Thursday, January 2, 2014

Global Solar Industry Outlook for 2014

The outlook for solar in 2014 continues to be bright. According to a new report we will see 43 gigawatts (GW) of new installations around the world this year. China, Japan and the US are expected to lead solar installations. The report was conducted by Mercom Capital Group, an Austin, TX-based clean energy communications and consulting firm, it is titled solar industry outlook for 2014.

The solar industry has been performing well in the last few years. In February of 2013, the European Photovoltaic Industry Association said the world surpassed the 100-GW mark of solar capacity.

In terms of global solar installations, 2014 is expected to be an even better year for global solar energy than last year. Mercom CEO and co-founder Raj Prabhu said he expects to see a total of 5.5 GW more solar power installed this year than in 2013.

“Helped by strong demand, the module oversupply situation has improved,” Prabhu said. “Prices are stable, and manufacturers are reporting shipment growth and ramping up capacity.”

Mercom predicts that in 2014, the U.S. will install more solar energy than Germany, India, Italy and the UK. Only China and Japan are expected to harness more power from the sun than the US in 2014.

© 2014, Richard Matthews. All rights reserved.

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