Top ten solar energy markets

These are not good times for the solar energy market, but there are signs that pressure is easing and the market may turn a corner later this year.

Despite a very weak start to the year, IMS Research has upped its full year photovoltaic (PV) capacity forecast by more than 1GW.

The market watcher now predicts more than 22GW of new PV capacity will be added globally this year.

It expects new PV solar installations in the second half of the year will be nearly double that seen in the first 6 months.
 
“Although installations grew just 13% in Q2 from Q1 the results of our latest report show that there will be a huge surge in installations in the second half of the year,” said senior research director for PV, Ash Sharma.

There has also been a pick-up in the key European solar market, Germany.

“Several mid-sized markets like the USA are growing massively whilst markets like Germany and Italy are starting to pick up too,” said Sharma.

However, the analyst’s Global PV Demand report points out that a number of European markets, including Germany are predicted for a major slowdown or even a fall in 2011.

“However, Europe overall will be only 1% down this year due to geographic diversification, with high demand coming from a number of new countries such as Slovakia and the UK,” said the IMS report.

The report concludes that 11 countries in Europe will install at least 100 MW this year, with 20 countries globally installing this amount or more – up from just 13 the previous year.

The 10 most important PV markets in 2011, according to IMS Research, will be:

1.    Germany
2.    Italy
3.    USA
4.    China
5.    Japan
6.    France
7.    Australia
8.    India
9.    Spain
10.  Canada
 

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