Clean Power row of solar houses shutterstock_125677742

Published on February 10th, 2016 | by Joshua S Hill

11

Global Solar PV Pipeline Now Exceeds 200 GW, According To IHS

The global solar PV pipeline now exceeds 200 GW, according to new figures released by IHS.

As one of the leading sources of solar analysis, IHS published the latest edition of its Solar Deal Tracker this week, in which it finds that the global solar PV pipeline has now exceeded 200 GW, thanks in large part to the extension of the US Investment Tax Credit. The US leads with the most amount of projects in its PV pipeline, and together with China and Brazil, make up 110 GW, or half of the current global PV pipeline.

“A large share of the planned projects is still immature, with developers scouting for tenders and other opportunities to sign power-purchase agreements,” said Josefin Berg senior analyst for IHS Technology. “The previous panic to complete project phases ahead of schedule has reverted to a development pipeline responding to demand and contract fulfilment.”

The US had a bumper 2015, unsurprisingly, given most investors and developers assumed that the US Congress would not extend the valuable Investment Tax Credit. According to IHS, 16 GW of new projects entered the US solar PV pipeline in 2015, while at the same time, 10 GW of tracked projects exited the pipeline, i.e., were installed or entered construction.

Those projects in early-stage development which had previously been racing to complete development and break ground so as to apply for the Investment Tax Credit have now relaxed their schedules, and now need only enter into construction by 2019 to benefit from the 30% credit.

“We expected to see some hectic activity from late-coming developers in 2016; however after the ITC extension, developers have calmed down,” said Christine Beadle, senior analyst at IHS Technology.

IHS-21

On the flipside is the United Kingdom, which has seen its pipeline of pre-construction projects decrease by more than 4 GW in 2015 as many developers await the expiration of the Renewables Obligation Certificates scheme in April.

IHS also expects economies of scale and “an inclination for oversized projects” to increase the average system size of PV projects in the future. According to the Solar Deal Tracker, two thirds of the current global PV pipeline capacity are projects over 50 MW in size, with developers in both the US and China targeting economies of scale by implementing large projects in areas with abundant land.

“Among the markets with the largest pipelines, only Brazil prefers the more modest system size of 30 megawatts, as a result of regulation; however, Brazilian developers are bundling projects to reduce costs,” Berg added.



Tags: , , , ,


About the Author

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.



  • Hans

    A little nuance: the capacity factor of solar is a factor of three to five lower than that of conventional or nuclear baseload power. However it still means about 50 conventional or nuclear powerplants of 1 GW will not have to be built.

  • Matt

    Total world install PV 2014(178GW) 2015(~233GW) so a 200 GW pipeline is almost equal to all that is already installed.

    • jeffhre

      It doesn’t take very many periods with 200 GW development pipelines to equal a TW base. Wow, can hardly believe it!

  • Harry Johnson

    So today would be a good day to buy newly devalued solar stocks?

    • Ronald Brakels

      Hopefully not.

  • Martin

    I can not wait for the day first there the worlds total installed capacity exceeds FF on an annual basis and then after the day there total world installed capacity exceeds FF, including nukes!
    That will be a day to really celebrate!

    • Hans

      And more importantly, the day when renewable power production exceeds conventional power production

    • Frank

      The first thing to celebrate is when coal plants no longer get built. Then gas installations dropping off. After that, it’s going to be death by a thousand cuts. Nukes cost too much. China might put up a few, but as they get old, and need work, they are going to fall off the end.

    • Alharbi

      That day will come.. sooner than what most people think.

    • Ian

      Not sure what you’re saying there, but in 2015 about half of the new electric generating capacity brought on line was from renewables (more wind than solar). So if you count all renewables the day has already arrived when they exceed FF.

      • Martin

        I did not realize that, so that is one huge step into the right direction!

Back to Top ↑