Global PV installations to grow by 21% in 2012

Global solar PV installations will grow by at least 3.5% and up to 21% in 2012, according to a new report from IMS Research.

04/04/2012


Global solar PV installations will grow by at least 3.5% and up to 21% in 2012, according to a new report from IMS Research, recently acquired by IHS Inc. The market analyst firm forecasts that despite incentive cuts in most of the world’s largest markets, global installations will grow from 26.9 GW in 2011 to between 27.8 GW and 32.6 GW in 2012, with Europe’s share of installations falling from 69% last year to 50% this year.

IMS Research’s Q1’12 PV Demand Database, which tracks installations in more than 60 countries, revealed that new PV installations reached 26.9 GW in 2011 and its most-likely forecast shows this growing to 27.8 GW this year. (Note that figures are for installations and not grid connections; the figure for grid connections in 2011 would be much higher.) Ash Sharma, Senior Research Director for Photovoltaics, commented, “Despite many in the industry still expecting further doom and gloom, we in fact see a pick-up in demand driven by falling system prices, a rush to  beat incentive cuts, and the growing number of mid-sized emerging PV markets.”

Global PV Installations - Conservative, Most-Likely, and Optimistic Scenarios. Source: IMS Research's Q1'12 PV Demand Database

The new report’s ‘optimistic forecast’ shows installations growing by 21% to 32.6 GW this year. “It is no longer a case of whether the PV market will grow in 2012, the real question now is by how much will it grow,” Sharma explained. “When you only consider a handful of countries like Germany, Italy and France, it’s easy be pessimistic about demand; however, when you look further afield and analyse demand from 60 countries, the picture becomes much more positive.”,.

According to the Q1’12 report, at least 23 counties will install 100 MW or more this year, up from just 17 last year. “It is this geographic diversification that will help drive growth in global PV installations this year as the market becomes less dependent on just one or two markets. Ultimately it will also lead to stability for the industry in the longer term as the impact of a single country’s policy will weaken,” added Sharma.

PV Installation Forcase by Major Region. Source: IMS Research's Q1'12 PV Demand Database

Germany, however, is still predicted to remain the largest and most important PV market this year and despite the overhaul to its FiT policy, new installations are predicted to reach at least six GW this year and up to 8.5 GW is even possible. Such a result would have been almost unthinkable a few months back, but IMS Research found that demand in Q1 was extremely high in a rush to beat the incoming changes.

Although Germany will remain the largest market, IMS Research predicts that China will become the second largest, followed closely by Italy. “China remains one of the most unpredictable factors in the global supply and demand balance. With European demand faltering, the Chinese government is under increased pressure to accelerate domestic deployment to support its huge manufacturing base. Installations of up to eight GW would be unlikely in China this year, but still a possibility,” concluded Sharma.

Detailed analysis of PV installations in more than 60 countries is available from IMS Research’s quarterly PV Demand Database.



No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Integrated mobility; Artificial intelligence; Predictive motion control; Sensors and control system inputs; Asset Management; Cybersecurity
Big Data and IIoT value; Monitoring Big Data; Robotics safety standards and programming; Learning about PID
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me