According to recently released figures by energy analysis firm GTM Research, solar deployment the world over hit 59 GW in 2015, significantly higher than the numbers released by PV Market Alliance whose estimates hovered at 51 GW. GTM also forecasts 64GW for 2016.
The figures refer to the complete basket of solar installations worldwide and are not based on just a single country. However, China has been a major contributor in pushing the figure upward with its 19 GW of installations last year, adding another 2-3 GW to the 2016 estimate.
There’s good news for India too, which is the fifth highest performer at 2 GW. Despite the huge boost received by the US solar sector through Investment Tax Credit, the country showed no substantial in its performance at 7 GW. Between 2015 and 2020, the US share of global solar PV demand will increase by an average of 10-15% owing to the extension.
Source: The Hindu Businessline
The best performers in 2015 were Japan at 11 GW and the UK at 4 GW. However, both countries were hit by the repercussions of the feed-in-tariff (FiT) cuts, which are expected to bring the UK market down by an aggregate of 4-5 GW over the next few years. Japan’s transition to large auction-based projects is also expected to decrease its market by over 3 GW in the future. On the other hand, China’s FiT cuts have been negligible at 13% with strong demand expectations in the future.
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