Global demand for solar PV to reach 31 Gigawatts in 2013, as per Solarbuzz

Solarbuzz has estimated Solar photovoltaic (PV) demand will increase two gigawatts (GW), from 29 GW to 31 GW during 2013, up 7% Y/Y according to its latest report. Solarbuzz says for the first time, China will outpace Germany to become the leading PV consumer, while the top 10 PV territories will still account for 83% of global PV demand. “2013 will represent another transition year, as the PV industry adjusts to softness across legacy European markets,” according to Michael Barker, senior analyst at NPD Solarbuzz. “The Chinese end-market will largely compensate for the downturn in demand from Germany, which previously led PV demand.” “In 2013, we expect to see improvement in the market fundamentals that enable PV demand to return to double-digit growth,” Barker said. “Installed-system prices will continue to fall, and PV will become increasingly cost competitive across regions with high electricity rates, shortages in domestic supply, and growing renewable obligations to fulfill.” The other information shared by Solarbuzz includes: Due to further reductions in European premium incentives, demand in this region will fall to approximately 12 GW, which is a 26% Y/Y decline. In contrast, new policies across leading PV countries in the Asia-Pacific (APAC) region, led by China, Japan, and India, will stimulate regional growth of over 50% and account for more than 11 GW ...