COVID-19 SOLAR & STORAGE BUSINESS CLIMATE INDEX Maps the Global Impact Using Ad-hoc Market Feedback(PresseBox) (Bonn, )
Tough times require joint action and reliable first-hand information. In view of the current unpredictable and volatile situation, Joint Forces for Solar in co-operation with EUPD Research launched the COVID-19 Solar & Storage Business Climate Index (SSBCI) Survey to support solar and energy storage businesses, regional markets as well as stakeholders across the entire value chain by providing reliable information on market developments during the global pandemic and beyond.
“The currently faced economic downturn from the pandemic is far-reaching, with a critical impact on many sectors including solar and energy storage. We at Joint Forces for Solar and EUPD Research see it as our duty to take the pioneering lead in helping solar and energy storage companies on global scale with reliable and first-hand information needed to navigate their businesses safely through the present situation. Having launched the COVID-19 Solar & Storage Business Climate Index, our company group gives solar stakeholders of more than 50 country markets a say and creates important transparency and guidance on how our industry can remain vibrant”, says Markus A.W. Hoehner, President and CEO of Joint Forces for Solar. The Index is a first of its kind global expert panel which compiles primary data over multiple geographies and supports the renewable energy industries with urgently needed first-hand data.
Main Findings of First Round
The first wave of the survey was conducted between April 1st and April 8th, 2020 amongst global solar energy stakeholders. The survey prompted participants to evaluate the status of the markets, impacts on their businesses in March 2020 due to COVID-19 and future expectations. Participants were asked to provide their insights and expectations for the market demand, disruptions due to supply chain issues and the overall effect of the virus on total PV and storage installations in their countries of expertise.
The survey results revealed that the booming global solar markets are likely to see a decline in face of COVID-19 related lockdowns. 77% of the respondents reported that the installations in their respective markets are expected to drop in 2020 compared to 2019.
However, contrary to the global trend, the respondents who evaluated the Chinese PV market are more optimistic and expected the installations to slightly increase compared to the previous year.
Almost one third of the participants who evaluated the German market expect a drop of up to 10% in total installations in 2020. Furthermore, they expect the month of April to have a more severe impact on installations compared to March due to continuing strict limitations of public life and movement.
The US market is expected to see a very strong decline in installations in April due to a worsening situation in the country.
Globally, countries are at different stages of the COVID-19 outbreak impacting solar installations in these markets in various ways.
Get Access and Get Involved
Hence, the aim of SSBCI is to conduct the survey on a regular basis to create long-term transparency. Values for participants of the surveys include complimentary benchmark results for their focus countries and webinar invitations for constant updates along with comments from key players of different regional solar and energy storage markets.
The detailed country-level results of the COVID-19 SSBCI Survey will be integrated in EUPD Research’s Global Energy Transition (GET) Matrix. The GET Matrix is an online tool which can be accessed 365 days a year to gain insights into the latest developments in 70+ global PV markets. The tool tracks several key parameters in these country markets including solar PV installations (achieved and projected), electricity market dynamics, electricity prices, solar PV tenders, political and regulatory mechanisms, major downstream stakeholders in the country markets, economic conditions and top solar related news.
Additionally, in-depth data packages comprised of all statistics, results and evaluations are made available through EUPD Research. In this respect, major focus will be put on the trends within specific regions and relevant stakeholder groups to constantly track latest developments and identify business opportunities.
About EUPD Research
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