PV on track for quarterly record
Global PV installations are predicted to hit a record 15GW in the fourth quarter of the year.
Analyst IHS says this would beat the previous high of 12.7GW in the same quarter of 2013.
According to an IHS report, PV Demand Tracker, the top five solar markets this year in terms of new capacity will be China, Japan, the US, the UK and Germany.
“The second half of 2014 will see a surge in global PV demand driven by incentive policy changes in several key markets, as well as the ramping of installations triggered by record low system prices,” says IHS.
Shipments and revenue of leading manufacturers will increase sharply, according to their analysis, particularly in the third quarter, to serve the boom of installations in the final three months of the year.
While China will remain the world’s largest PV market in 2014, a more surprising change will see the UK surpass Germany, due to policy changes in both countries.
The UK’s recent announcement that it will review subsidies to large-scale solar two years earlier than expected will create a rush to complete several gigawatts of ground-mounted projects before April 2015.
IHS adds that “although much of this will be completed in the first quarter of next year, developers will likely push ahead and aim to complete projects earlier in 2014”.
The cuts to Germany’s feed-in tariff, coupled with the minimum import price of Chinese modules, has weakened demand considerably, and less than 2.5GW will be installed there this year, the IHS forecasts.