With huge demands from markets across Europe, Asia, Australia, Korea, and Egypt, there is a positive trend in the solar industry in 2018.
From 2007 to 2016, the solar installations in the US saw a massive growth. It grew at almost 100 fold, from 169 megawatts of capacity to 15 gigawatts. This growth was well complemented by supporting services like Solar Design Service. However, last year U.S Solar market first time witnessed a slump in the installations. As per the Solar Energy Industries Association, the market dropped about 22 percent to 11.8GW. The year 2018 also doesn’t seem to be turning it around. Even Residential Solar is not growing at the rates as it has seen in the past. The decline is majorly due to weakness in major state markets such as California and several states in the northeast. Like any other industry that behaves after a certain maturity point, big players in the solar sector are also now focusing more on profitability than growth. The low-hanging fruits have been picked, and now installers and manufacturers are finding alternative ways.
But Industry maturity alone is not the lone reason for this decline. There is a bigger threat looming over the solar sector. Tax reform, electricity regulation, and potential new duties on imported panels may go against the favorable conditions, which made the Solar sector a success in the US market. Imports were the major reason behind the exponential growth in the solar market. The high costs of the panel had already made the life difficult for the installers and now with the prospect of new duties on import, the margins are going to be too thin for companies to sustain.
Where US solar market is facing all sort of challenges, European PV market is expected to see 35% year-on-year growth in 2018. According to GTM research, France, Germany, the Netherlands and Spain are set to be GW-scale markets. The same report states that Latin American solar demand could double in 2018. Brazil and Mexico are going to lead this growth with both entering the GW-scale ranking. Egypt, Korea, Australia are also not far behind in the gigawatt ranking race. All three of them are expected to touch the mark in 2018. Globally, around 606 GW of new PV capacity is forecast to be installed in next 5 years.
With huge demands from Europe, Asia, Latin America and Egypt, and US Market looking for partners who can provide them affordable services to avoid passing the burden to the consumers, solar design services players need to up their game. DIN Engineering Services has already geared up for 2018 with its services like proposal drawings and solar permit package. To back our experienced and skilled workforce of more than 300 resources, we have established a robust Quality management system that provides us the flexibility to complete projects within 24 hours with high-quality deliverables. Moreover, our strategically located global delivery centers and working on best of technologies helps in optimizing solar soft costs. We are focused to bring in efficiencies in the Solar Designs and Engineering Drawings.