Global solar PV demand to reach 49 GW in 2014, say NPD Solarbuzz24. December 2013 | Global PV markets, Industry & Suppliers, Markets & Trends | By: Ian Clover
The solar analysts forecast a record 12 months for solar installations, estimating 5 MW of PV to be installed every hour for the first three months.
Global solar analysts NPD Solarbuzz have forecast in their latest Quarterly Report that global PV demand is likely to reach 49 GW in 2014.
In the six months between the beginning of Q4 2013 and March next year, some 22 GW of capacity will be installed say the analysts – the equivalent of a new 5 MW solar farm every hour. By the end of 2013, an estimated 36 GW of solar capacity will have been installed around the globe, with NPD Solarbuzz’s 2014 predictions set to eclipse that figure by more than 30%.
"The solar PV industry has reached a critical tipping point, with end-market demand hitting record levels almost every quarter," said NPD Solarbuzz vice president Finlay Colville. "This growth is being driven by leading module suppliers and project developers that returned to profitability during 2013, and which have now established highly effective global sales and marketing networks."
The report also anticipates that Q4 for 2013 will break further records for solar capacity, with the 12 GW barrier set to be broken for the first time ever, followed by further record-breaking installation figures for the first quarter of 2014.
In total, say NPD Solarbuzz, 22 GW of solar power will be installed globally over this combined six-month period – a figure that is greater than all solar PV installed anywhere between 2005 to 2009.
As echoed by a fellow solar forecast from IHS, NPD Solarbuzz see the three markets of China, Japan and the U.S. leading the way, anticipating that two-thirds of all solar panels installed in Q4 2013 will be located in these three regions.
Fuelled by these record levels of demand, production utilization rates for tier-1 manufacturers are likely to exceed 90%, with many of China’s leading crystalline silicon module suppliers achieving costs of below $0.50 per watt for both silicon and non-silicon. Such market conditions may spur capacity additions in manufacturing, bringing to an end an 18-month period of manufacturing dormancy.
"Manufacturing overcapacity and pricing erosion within the PV industry was previously a key factor in limiting annual growth to between 10-20% between 2011 and 2013," said Colville. "With a more stable pricing environment and the prospect of increased end-market globalization, NPD Solarbuzz forecasts a return to annual growth above 30% for the PV industry in 2014."
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 2647 views
- 2443 views
- 2336 views
- 2266 views
- 1968 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!