China’s PV capacity is sufficient to maintain its market leadership position in China, which accounts for 27% of global total installations. However, it is interesting to note that China’s market share in 2017 was 51%. China’s decline in market dominance coincides with record numbers of countries adding significant PV capacity.
Solar farms selling the energy to utilities install large amounts of photovoltaic panels and products in remote locations. Satellite imagery shows the amazing growth of these massive solar farms, which continue to appear all over China.
China’s dramatic increase in solar power is due to its urgent need and severe air pollution problem. Although some countries have reduced incentives to install solar panels, China’s government encourages financial institutions to offer incentives to solar installations.
United States
The United States continues to be a leader in solar energy, expanding its utility sector and residential market installation. The increase in solar power is due to significant government incentives to the residential market, a segment growing rapidly.
The U.S. utility industry saw a 37% increase in installed capacity in 2019 compared to 2018. In 2019, the U.S. utility sector saw an increase of 37% in installed capacity compared to 2018. The residential market saw an increase of 15% in installed capacity. In 2019, the U.S. had a total of 13.3 GW more installed capacity than in 2018. The cost of solar energy is becoming more affordable compared to the nonrenewable resource. This will mean that U.S. production will continue to increase in the years ahead.
India
India’s rise to be a world leader in PV capacity has been remarkable. After years of focused effort, India saw significant growth in 2019, achieving a 9% share of the global PV market. Japan held 6.3% of the market, while India held 11.9%.
India’s total capacity for the current year was mainly installed at utility plants. These utilities accounted for most of the country’s 10.1 GW of new installed capacity. The country’s total installed capacity stood at approximately 42.9 GW at the end of 2019.
According to the International Energy Agency, solar energy production can save 700 million tons of carbon dioxide each year.
Japan
Japan is one of the most densely populated nations in the world. This means that it cannot cover large land areas with solar panel arrays. Japan ranks among the top countries in solar energy production, with 7 GW installed capacity in 2019.
Japan committed to solar energy after the Fukushima nuclear power plant disaster in 2011. Japan made a serious commitment to solar energy after the 2011 Fukushima nuclear plant disaster. 6
This island nation even created floating “solar islands” equipped with thousands of water-resistant panels. These next-generation solar farms offer many advantages, including the ability to cool more effectively with water.
Vietnam
Vietnam, which has installed an estimated 4.8GW of solar energy in 2019, rounds out the top five. Vietnam’s success in 2019 was due to a government policy encouraging investment in solar energy. It guaranteed producers an above-the market price. This policy led to five times more solar installations than originally projected by the government. In 2019, Vietnam claimed a 4.3% share of the global PV market.