Utility-scale solar power capacity is expected to grow by double digits globally...
SINGAPORE - Utility-scale solar power capacity is expected to grow by double digits globally in 2019 and 2020, driven by expansions in the United States, Europe, Middle East and China, U.S. bank Goldman Sachs said on Thursday.
Solar power is the fastest growing source of electricity generation, taking market share from fossil fuels like thermal coal and natural gas as governments and companies increasingly introduce clean energy targets. Goldman said it expected utility-scale solar installations globally to reach to 108 gigawatts in 2019, up 12 percent on the previous year, and then grow by another 10 percent in 2020 to 119 GW.Utility-scale solar is defined as an installation that is designed solely to feed electricity into a grid, unlike smaller scale residential solar units.
“We anticipate some of the strongest growth to materialize in key regions such as the U.S., Europe, and the Middle East while we see some potential upside emerging in China where demand appears to have stabilized in recent months following a collapse through the latter part of 2018,” it added.
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