A huge year is tipped for the solar power in 2014. A massive growth surge is expected to result from the fact that the equivalent of a 5-megawatt solar farm is now being installed every hour of every day worldwide, Earth Techling has reported.
NPD Solarbuzz has forecast that the demand for solar panels “is poised for explosive growth in 2014, and is set to reach 49 gigawatts (GW), up from 36 GW in 2013”.
After a period of consolidation in solar manufacturing, and flat growth in Europe, industry capacity is again starting to meet demand. The United States, China, and Japan are showing increasingly strong demand. Two-thirds of all solar panels installed in the forth quarter of 2014 are expected to be in China, Japan, and the United States.
To put the current rate of growth into perspective, Solarbuzz has pointed out that over the six-month period from October 2013 to March 2014, the solar PV industry is expected to install nearly 22 GW of capacity, which is as much as the whole of the period between 2005 and 2009 worldwide – which was considered to be a high-growth phase in the solar industry.
It’s already looking like it will be another bumper year for solar power worldwide.