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Bloomberg
Anyone following clean energy knew this could be a tough year for solar. Goldman Sachs Group Inc. just put a grim number on how bad. The pace of global installations will contract by 24 percent in 2018, Goldman analysts said in research note. That’s far more dire than 3 percent decline forecast by Bloomberg NEF in the bleakest of three scenarios outlined in a report earlier this month. Credit Suisse is forecasting a 17 percent contraction.
The anticipated slowdown would mark the first time the solar market has shrunk. It comes after China announced in late May it was curbing utility-scale development in the wor-ld’s biggest market, pulling the plug on about 20GW of projects.