Global solar market to grow 20% in 2014

Bloomberg New Energy Finance (BNEF) surveyed some of the world’s most respected and respected solar industry analysts to get an expert opinion on the likely development of the solar energy sector in 2014.

The results showed that most experts expect the photovoltaic market to grow by about 44.5 GW this year – a 20.9% increase in the solar industry compared to 2013.

Bloomberg’s New Energy Agency surveyed executives at IHS Inc., Deustche Bank AG, HSBC Holdings Plc, Citigroup Inc., Yingli, NPD Solarbuzz. Wacker Chemie AG, and PricewaterhouseCoopers LLP, asked representatives of each company to announce their forecasts.

Solar capacity in Asia-Pacific and the U.S. is set to grow in 2014, and many new emerging solar markets have joined.

The global PV market grew by 20.3 percent between 2012 and 2013, with most experts agreeing that a similar level of growth should be expected in 2014. China will play a leading role this year, cementing its position as the world’s largest market for solar PV installations, ahead of Japan and the US – government support for solar technology in China plays a huge role, leading to an additional 10-14 GW of solar capacity growth. Many experts believe that the big three countries will be able to push the solar energy market to great heights.

“After two years of severe decline, the global solar market is once again poised for significant growth,” said Ash Sharma, senior director of solar research at IHS. “In 2014, photovoltaic installations around the world will grow by double digits, with capital spending on solar component manufacturing declining, solar module costs stabilizing and emerging markets on the rise.”



While solar installations have declined in Europe, growth in China, Japan and the US is supported – albeit on a smaller scale – in emerging markets such as Brazil, Chile, Thailand and Australia.

In Asia, solar heavyweights like SunPower and Yingli are once again turning profitable, weighing on the value of solar stocks that have risen over the past 12 months. According to Bloomberg, the NYSE Bloomberg Global Solar Energy Index rose 70 percent last year. At the same time, solar manufacturers have begun to emerge from the forced hibernation caused by the crisis of global overproduction of affordable solar components in 2012 and 2013.

SunPower, Panasonic and Yingli reported positive financial performance, and the second quarter of this year promises to be a watershed moment, with many of the leading companies in the solar market likely to report their first profits in three years.



“The 2013 results showed the astounding scale of the Chinese market,” said Jenny Chase, head of new energy at Bloomberg’s solar energy division. “Photovoltaic systems are becoming cheaper and easier to install. The Chinese government has also surprised European governments how quickly the solar industry could be deployed in response to government subsidies. "

In total, according to Bloomberg, $102 billion worldwide was invested in solar installations in 2013. This year, Ash Sharma, senior director of solar research at IHS, expects polysilicon manufacturers to reap the maximum benefit as they address the oversupply that permeated the market early last year. “We don’t expect a deficit,” says the analyst, “but the gap between supply and demand has been closed.”

Source: aenergy.ru