Could Global Factors Slow The Local Solar Boom?

Maryland has seen a rapid growth in both utility-scale and smaller-level solar generation capacity – witnessed by the land use pressures facing many parts of the state (and legislation in recent years to address those continuing pressures). See prior Conduit Street coverage of solar issues for a flavor of this ongoing challenge to local, especially agricultural, land use.

A report on the Bloomberg news site indicates that China’s recent announcement of reduced plans for new solar installations could trigger a contraction in this market, where growth has been strong in recent years:

The global solar market could do something this year that it’s never done before: shrink.

Solar installations in 2018 may total 95 gigawatts, down 3 percent from a year earlier, based on the most conservative of three scenarios modeled by Bloomberg NEF in a report Monday. For comparison’s sake, the typical nuclear reactor has about a gigawatt of capacity.

The forecast, even with its potential call for some retraction, still suggests an overall upward trend, possibly fueled by a decline in price for equipment and materials for installations, also resulting from reduced Chinese demand.