Impact of Coronavirus (COVID-19) on Solar Energy Outlook in the Year 2020

Coronavirus unfortunately has steadily spread itself and is now hitting Europe and the US. These big end markets are being affected by the virus as well and we see the effects in all financial markets and also solar energy.

“So far, there is no marked change in the volume of foreign orders placed for modules. However, Europe and other regions where the virus is highly prevalent are expected to see projects being postponed,” states PV InfoLink Chief Analyst Corrine Lin. “This will make it even more uncertain how foreign module demand is faring. The pandemic will extend its tentacles from the supply side to the demand side from March–April.”

Deadlines of some projects are being delayed in countries like Germany, France, and Deutschland. So far, PV InfoLink has not altered its expectations for global PV demand in 2020, forecasting 134.3 GW of new installations worldwide for the year. “Knock-on effects on overseas demand will begin to emerge,” says Lin. “But to what extent the demand level is affected depends on when the outbreak could be contained.”

Regarding the situation with COVID-19, or Coronavirus, please stay safe by following World Health Organizations and local authorities. 

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Source:@ pv-magazine & @Solar_Edition

Photo:@WHO / CDC @Solar_Edition 

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