- Category: PV
14 Mar 2013
- Published on Thursday, 14 March 2013 09:00
- Hits (1591)
China will overtake Germany to become the world’s leading photovoltaic consumer in 2013, projected NPD Solarbuzz in a recent market report.
According to Solarbuzz, photovoltaic demand in 2013 will see a 7 percent year-on-year growth to reach 31 gigawatts, up from 29 GW in 2012.
The top 10 P.V. countries are likely to still remain accountable for 83 percent of P.V. demand worldwide, but, for the first time Solarbuzz see’s China on top, taking the number 1 spot from Germany.
According to Michael Barker, senior analyst at NPD Solarbuzz, rising demand from China will contrast greatly with decreasing demand from the European region.
“The Chinese end-market will largely compensate for the downturn in demand from Germany, which previously led P.V. demand,” said Mr. Barker.
Further reductions in premium incentives are seen as causing significant drops in P.V. demand across the European Union. Demand is expected to drop by around 12 GW – equivalent to a 26 percent year-on-year decline.
Meanwhile, new policies in the Asia-Pacific region, led by China, Japan and India, will be key drivers of regional growth of more than 50 percent and see the installation of over 11 GW of P.V. in 2013.
Installed-system costs will also continue to drop and P.V. will become more and more cost competitive, particularly in regions with high electricity rates, shortages in domestic supply and increasing renewable obligations to perform.
The report also identified new P.V. opportunities in the Middle East, Africa, Latin America, Southeast Asia, the Caribbean and other emerging regions as having a stronger impact on global demand from 2014 onwards.
While emerging nations will only account for less than 8 percent of global demand during this year, this market share is expected to double in the next four years driven largely by South Africa, Saudi Arabia, Thailand, Israel, and Mexico. – EcoSeed Staff