Global solar photovoltaic installations added during the fourth quarter of 2014 (Q4'14) are forecast to exceed 19.5 GW, says a new report from NPD Solarbuzz. The gains will push global cumulative PV deployment toward the 200 GW mark.
The amount of solar PV deployed in Q4'14 will surpass the total annual solar PV deployed in 2010, NPD Solarbuzz says. According to its analysis, this record quarterly figure will be driven in large part by China and will ensure that the PV industry approaches the previously forecast 50 GW annual installation level in 2014.
China's Q4'14 PV demand is forecast to exceed 7 GW, up more than 10% compared to the fourth quarter of 2013 (Q4'13). Japan and the U.S. are also expected to add several gigawatts of capacity during Q4'14. These three major solar markets will account for approximately 70% of PV deployed in this period, the report says.
‘Global PV end-market demand continues to set new records, restoring investor confidence in the PV industry after several years of overcapacity and declining profits,’ says Michael Barker, senior analyst at NPD Solarbuzz. ‘Having been put on hold over the past six months, due mainly to trade-related uncertainties, record quarterly and annual shipment levels will prove crucial to investors that have been hesitant to commit to new capacity funds.’
With the PV industry approaching a more balanced supply-and-demand environment, investments in new manufacturing facilities are likely to be announced soon, NPD Solarbuzz says.