Europe Set to Lose its Dominance of the Global Solar PV Market
13th May 2013
A new report by the European Photovoltaic Industry Association (EPIA) has discovered that Europe’s dominant position at the forefront of the solar photovoltaic industry over the past few decades, is finally set to come to an end.
Solar PV panels currently provide 2.6 percent of Europe’s off peak demand, and 5.2 percent of on peak demand, according to EcoSeed.
In 2011 the EU installed 70 percent of new solar capacity in the world, but in 2012 this fell to 55 percent, and this year the EPIA expects that figure to fall further still, meaning that most new solar installations will occur outside of Europe.
A separate report written by NPD Solarbuzz, also states that Europe will lose its dominance in the PV market, and that this year China will finally overtake Germany as the global PV leader. It also predicts that in 2014 markets in Asia, the Middle East, North Africa, and the Caribbean, will begin to grow.
Despite the dire economic situation that is affecting most of the world, the global solar PV market grew last year, with more capacity installed in 2012, 31.1GW, than in 2011, 30.4GW. The EPIA estimates that this will continue to increase to 48GW in 2017, and then a massive 84GW in 2017.
By. Ben Thompson