NREL recently released its solar PV market update report for nine-months ended September 2020. Select highlights of the reports are as follows:  

  • The median estimate of 2020 global PV system deployment projects an 8% y/y increase to approximately 132 GWDC.
  • Despite the impact of the pandemic on the overall economy, the United States installed 9.0 GWAC (11.1 GWDC) of PV in the first 9 months of 2020—its largest first 9-month total ever
  • The median residential quote from EnergySage in H1 2020 fell 2.4%, y/y to $2.85/W—a slower rate of decline than observed in any previous 12- month period.
  • Despite tariffs, PV modules and cells are being imported into the United States at historically high levels—20.6 GWDC of PV modules and 1.7 GWDC of PV cells in the first 9 months of 2020.

To read the executive summary and other key highlights of the report, download the presentation below