Solar PV heavyweight SunEdison is expecting a huge surge in the number of large PV power plant projects completed this year, according to recent reports.
The company is predicting a 90% (CAGR) increase in project completions in 2014, as compared to 2013 — with an estimate that they will complete the installation of up to 1.15 GW worth of project capacity this year.
Image Credit: SunEdison
The new figures — which were presented at SunEdison’s Capital Markets Day event — are an increase over the previous predictions for 2014, which were for 800-1,050 MW worth of capacity to be completed.
SunEdison also announced its aim to hit over 1,500 MW of installations in 2015 and over 2,000 MW in 2016.
PV Tech provides more:
With increased focus on retained value of PV projects, SunEdison guided that it expected projects totalling between 50-60 MW to remain on its balance sheet in the first quarter of 2014 and between 400 and 500 MW for 2014.
Management highlighted that countries with large electricity markets and growing demand would drive PV adoption as well as countries with high solar irradiation levels in the coming two to five years. Many of which would find PV at grid parity in that timeframe.
The company also noted that it expected the transition towards ‘distributed generation’ including residential and small commercial to continue at a steady pace through 2020.
By the year 2020, worldwide distributed generation capacity is expected to reach 46 GW, out of a total (predicted) market of 118 GW.
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