China's PV market continued to maintain explosive growth in 2017, expanding the global PV market to more than 100 GW for the first time.

EnergyTrend, a division of TrendForce, estimates that global demand will increase further to 106 GW in 2018, but the distribution of regional demand will change.

According to the latest report from EnergyTrend, China's annual grid-connected photovoltaic power generation capacity reached 52.83GW in 2017, the highest in the world.

The United States ranked second with 12 GW.

Japan's figure is only 6.09GW, while India's 9.26GW has surpassed Japan, ranking third.

With China's strong growth momentum, the Asia Pacific region's market share in the global solar market is expected to reach a new high of 72% in 2017.

EnergyTrend analyst Rhea Tsao pointed out that 2016 was the fastest growing year for the global solar market, an increase of 42.5% over the previous year.

In 2017, China's growth rate was 26%, surpassing the market size of 100GW for the first time.

Rhea Tsao said: "The global growth of the past two years has been driven by China's explosive demand."

China will set off two installation booms in 2018, as the National Development and Reform Commission announced the adjustment of new FIT tariffs for different types of PV projects. At the same time, Europe will enter a recovery phase.

The Chinese market continues to grow excessively, driven mainly by policy incentives and capacity expansion.

In particular, the distributed generation (DG) system is currently not subject to FIT restrictions. It is expected that the grid connection will reach 19 GW in 2017, which is more than four times that of the 4.23 GW reached in 2016.

In China, large-scale ground-fired power plants will face more stringent regulations, while DG systems and photovoltaic poverty alleviation projects will have more room for development.

EnergyTrend predicts that there will be two wave of installations on June 30 and December 30, 2018 to enjoy higher subsidies.

It is estimated that the total number of grid connections will reach 46.7GW in 2018, including ground installation projects, DG systems, and photovoltaic poverty alleviation projects.

Tsao pointed out that the growth of the Chinese market will slow down between 2018 and 2020.

However, the European market will enter a recovery phase and become one of the main driving forces for the global solar market to exceed 100 GW.

In the third quarter of 2018, large assembly power plants in France, the Netherlands and Spain will be built and connected to the grid.

In addition, the EU's minimum import price (MIP) policy will end on September 30, 2018, making Europe a highly competitive market.

As for 2018, EnergyTrend estimates that global solar demand will reach 105.88 GW.

China will remain the largest market and the European market will grow.

At the same time, in the quarter of 2018, demand will come from different markets, generating at least 15 GW of installed capacity per quarter.

In addition, due to China's second installed boom, demand in the fourth quarter of 2018 will increase significantly.

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