Mercom Capital Group LLC forecasts global photovoltaic installation of approximately 38 GW for 2013 – a 23% increase over last year – in a recent analysis. Much of the demand has been driven by China and Japan, which are installing PV at a rapid pace and making policy decisions that boost market confidence that they are ready to take over as the top solar markets for the foreseeable future, Mercom says.
China and Japan are on pace to be the top installers this year, with a forecast of 8.5 GW and 7 GW, respectively. The report says PV installations in the U.S. are expected to reach approximately 4.5 GW for the year. Other major PV markets Mercom cites for the year include Germany at 4 GW, Italy at 2 GW, the U.K. at 1.5 GW and India at 1 GW.
‘After years of overcapacity, bankruptcies and record low prices, we are now seeing price stabilization, higher utilization rates and a move toward supply-demand equilibrium,’ says Raj Prabhu, co-founder and CEO of Mercom. ‘Market conditions for solar look much better than they did just three months ago.’
For Mercom's global solar forecast analysis, click here.