A new report from NPD Solarbuzz has revealed expectations that the European solar photovoltaic (PV) market is set to recover during the fourth quarter of 2013 and rebound into 2014 after an 18 month downturn.
According to the report, quarterly European PV demand is set to stabilise at 2.5 GW during the first half of 2014, to be followed by moderate growth in the second half of the year.
The European PV market has suffered some major swings over the past few years, after standing tall at the head of the solar PV market for several years. However, with the introduction of various tariffs across the continent and the rise of the US and Chinese industrial markets — combined with a growing solar market in the South American, African, and Middle East regions — Europe took a backseat.
However, that is all set to change, according to NPD Solarbuzz’s latest European PV Markets Quartery report, which says Germany, the UK, Italy, and France are set to drive European solar PV recovery in 2014, accounting for almost 8 GW — equivalent to more than 75% of the European solar PV demand.
“Following consecutive quarterly market declines going back to the start of 2012, solar PV demand from Europe is forecast to stabilize over the next three quarters,” according to Susanne von Aichberger, analyst at NPD Solarbuzz. ”The downturn in the European solar PV industry has now bottomed out, with the quarterly demand volatility of the past soon to be replaced by more stable end-market dynamics.”
The European market took another hit during the third quarter of 2013, falling 11% compared to the second quarter of 2013, and 43% compared to the same quarter a year previously. This year’s decline is expected to see the yearly totals plummeting to almost half of the peak demand achieved by Europe back in 2011, down 37% year over year.
The full report is available for purchase from NPD Solarbuzz.
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