Global solar installation to reach 43 gw in 2014

International » Solar

Global solar installations are forecasted to be in the range of 43 gw in 2014, according to a report by Mercom Capital Group, llc, a global clean energy communications and consulting firm.

Raj Prabhu, CEO and Co-Founder of Mercom Capital Group, commented that market conditions are as stable as they can be in the historically volatile solar industry. “Helped by strong demand, the module oversupply situation has improved. Prices are stable, and manufacturers are reporting shipment growth and ramping up capacity.”

With China revising its solar installation goals to 12 gw in 2014 and 35 gw by 2015, Mercom expects installations to be roughly 10.5 gw in 2014.

Along with China, the United States is the other top solar market forecast to grow steadily over the long term. Mercom forecasts U.S. installations to reach approximately 6 gw in 2014, as its solar market continues on a course of strong, steady growth even without a national feed-in-tariff (FiT). Utility-scale projects and distributed generation through third party-financed residential installations have been the catalysts of growth.

“At the moment, Japan is a ‘wild card,’” continued Prabhu. “Though forecasted to be the second largest market in 2014 with 7 gw installed, there are some mixed signals coming out of Japan.”

Germany will reach its intended target of installing about 3.5 gw in 2013. Installations stand at 2.9 gw in the first 10 months of the year. Other markets highlighted in the update include India forecast at 1.8 gw, and UK and Italy at 1.5 gw respectively.

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