Global market to approach 70 GW by 2020

New data from an alliance of solar analysts predicts that the global PV market will approach 50 GW in 2015, growing to 70 GW in 2020. The new PV Market alliance presented the findings for the first time at Intersolar Europe.

Growth in China, Japan, the U.S. and emerging markets is set to drive the solar market to almost 50 GW of new installations in 2015. The prediction was delivered by a coalition of analyst bodies including Asia Europe Clean Energy Advisory, Becquerel Institute, Creara, RTS Corporation and SPV market research.

The European market, the analysts find, will stabilize in the near future, after the steep 2011 declines.

The PV Market Alliance worked with regional solar associations to collect its data. 40 national PV markets were analyzed in the research.

The full findings are presented in the Global PV Market Report 2015 – 2020, which will be available at the end of June.