Global solar installations exceeded 12 GW in the first quarter of 2015, according to figures provided by EnergyTrend, putting us well on track to achieve the forecasted 52 GW.
EnergyTrend, a division of the TrendForce corporation, released the figures in its Golden Member Report late last week. The top global solar PV markets were China, the US, Japan, and India, with the first three expected to account for more than 60% of global solar PV capacity.
EnergyTrend is joining the chorus of analysts forecasting China to lead the way in 2015, expecting the country’s solar installation figures to continue growing this year and lead the world’s solar increase. China has already installed 5.04 GW in the first quarter, breaking its record and putting it well within reach of its annual goal of 17.8 GW.
Japan installed 1,950 MW during the first quarter, despite the government’s reduction of certain solar PV subsidies. The US added 1,306 MW in the first quarter, which itself represents 51% of the nation’s newly installed power generating capacity, which means that “solar installations exceeded conventional electricity resources in the US for the first time.”
The report also highlights Chile, Honduras, and Uruguay as Latin American leaders for solar installation in 2015, projecting each of the countries to see strong growth this year.
Across the other side of the planet, EnergyTrend highlights India as being “the most attractive market among the emerging ones,” with 1,100 MW worth of new solar capacity installed in the first quarter. The country’s hoped-for new capacity installation of 3 GW therefore looks well and truly to be within its reach.
Overall, the top 10 markets in terms of global solar installation accounted for 11.5 GW, which accounts for 22% of the annual forecast.