Wood Mackenzie: New 114.5 GW photovoltaics are expected this year internationally

Posted on October 09, 2019

The global photovoltaic market is set to recover this year with 114.5 gigawatts, according to Wood Mackenzie.

At the same time, the company expects 120-125 GW installations in 2020 and 2021. Another highlight in its latest report is that unplanned maintenance worldwide costs around $ 3,000 per megawatt installed.

Wood also notes that by the end of 2019, power inverters on 21-GW projects around the globe will reach the end of their ten-year lifespan and will need replacement. In fact, inverters at more than 14% of today's installed capacity will need replacement within the next five years.

According to calculations, inverters account for 12-13% of the average operating cost of a 50 megawatt project. Replacement costs are estimated to reach 1.2 billion. dollars by 2024.

 

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