Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

GTM Predicts 55 GW Solar PV To Be Installed In 2015

A new report from GTM Research forecasts 55 GW of solar PV to be installed globally in 2015, up 36% on 2014’s installation figures.

GTM’s figures are published in its latest report, Global PV Demand Outlook, 2015-2015: Exploring Risk in Downstream Solar Markets. The analyst firm believes that, led by China, the Asia Pacific region will drive global solar PV installation in 2015, installing more than half of all global PV in 2015. If GTM’s forecasts are accurate, 2014 will go down as a “transitional year” with only 2% market growth, while GTM believes 2015 will end up being a “transcendent year.”

Annual PV Demand (GW) by Region

GTM-21

“China has emerged as the largest global market for PV, underpinned by a new feed-in tariff program and ambitious solar goals under the Five Year Plan,” writes report author and GTM Research Solar Analyst Adam James.

GTM Research is predicting China will install 14 GW of the Asia Pacific region’s 30 GW of solar PV in 2015, while “Europe will begin an upswing, and North America, primarily the United States, will continue its year-over-year growth.” Specifically, GTM Research predicts Europe’s share of the global PV market will crash at 21%, before growing again in 2016, installing 42 GW and accounting for 31% of the global solar PV market.

PV Demand by Region, 2001-2020E

GTM-22

The United States will be the third-ranked solar PV market in 2015 behind China and Japan, according to GTM, installing approximately 8 GW, equating to 14% of the global PV market.

As can be seen by the immediate chart above, GTM is expecting a number of new players to begin affecting the global solar PV market, with the traditional markets seeing costs continuing to fall, allowing a greater era of solar PV competitiveness.

“One profound change in the global landscape is that emerging regional markets – such as Latin America, Africa and the Middle East – are expected to grow from their historical levels of 1 percent of annual demand to 17 percent over the next five years,” said James.

“Our core thesis is that solar is poised for exponential growth that will help it account for roughly half of new capacity out to 2020,” added James. “While solar demand will grow almost everywhere, there are some key drivers, including unprecedented demand in emerging markets, the evolution of grid parity in Europe, and massive headroom in developing countries such as China and India.”

GTM’s report comes at the same time as Mercom Capital released its own forecasts for 2015 global solar installations, predicting a slightly higher 57.4 GW, with China, Japan, and the United States expected to lead the pack.

 

Advertisement
 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

#1 most loved electric vehicle, solar energy, and battery news & analysis site in the world.

 

Support our work today!

Power CleanTechnica: $3/Month

Tesla News Solar News EV News Data Reports

Advertisement

Advertisement

Advertisement

Tesla News

EV Reviews

Home Efficiency

You May Also Like

Clean Power

Killer combo of offshore wind and green hydrogen indicates that rapid decarbonization is achievable, if policy makers do the right thing.

Clean Power

Green hydrogen is going down in cost, and concentrating solar power could pick up the pace by ditching electrolysis in favor of a thermochemical...

Clean Transport

While the US Postal Service fiddles with gasmobiles, Ford Motor Company launches new E-Transit electric vehicles at the delivery van market.

Cars

This piece continues my annual rundown of the top 10 EV countries in the world! See part 1 if you missed it. By Assaf Oron...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.