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Renewable Power Generation Capacity to Grow by 13.3% in 2018, Led by Solar PV and Wind Power
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Frost & Sullivan’s renewable energy outlook finds that the global market will close out 2018 with 154.6 GW of new renewable power generation capacity and $228.3 billion in investments. The investments in power generation is forecast to decline slightly by (-0.7%) over 2017 due to reductions in solar capacity additions in China, but this restraint will be offset by the growth in most technologies and regions.Wind and solar PV will continue to grow strongly, while biomass, geothermal, and small hydro will expand steadily but at a slower pace, and the ocean power sector will strive to get the right support to take off.Renewable technologies are being adopted rapidly across all regions, with very few countries being left out of the market. Latin America, and Africa and the Middle East will experience the greatest growth in installed capacity during 2018, at 20.1% and 52.3%, respectively, due to their small installed base. Asia will be responsible for 58% of the total capacity growth in 2018.Globally, feed-in-tariffs (FiTs) have been the preferred method to obtain investments in renewables. However, an increasing number of countries are progressively cutting subsidies, compelling the renewables industry to rely on competitive auctions and private sector power purchase agreement (PPAs).Why Partner with Frost & Sullivan?• Frost & Sullivan has a robust and proven research methodology that delivers high-quality findings. It has established relationships with leading participants in the renewable energy market value chain, which has helped it conduct primary research for the purpose of its research services.• Frost & Sullivan is a subject matter expert with 35 years of energy and environment experience researching and tracking energy markets, and generating reliable information.• The team of industry experts with multidisciplinary backgrounds in engineering, business studies, and market strategy integrate expertise areas to offer strategies.• The fact-driven, client-specific approach bridges the gap between market research and mainstream consulting, resulting in an exceptional ability to help companies realize their vision.
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