Following the decision to cease with the MIP from midnight last night, IHS Markit are predicting some serious price reductions on Chinese PV modules being imported into Europe. They are also predicting that this will happen very rapidly with demand increasing significantly next year. I'm really looking forward to seeing how this pans out over the next few months as it looks to be a major boost for the European solar industry. Some of the Hyperion team will be at Solar and Storage Live at the NEC next month so it will be great to speak with others in the industry to see how this is affecting projects in the UK. Hopefully we will be able to catch up with many of you there.
According to IHS Markit, on the back of the decision to end the MIP in Europe, solar module prices will decline by up to 30%, while total project system costs will be “immediately” driven down. Overall, it forecasts PV demand to grow 40% in 2019.