PV installs to triple by 2017 in emerging countries
September 30, 2013 | By
Barbara Vergetis Lundin
Small emerging markets are the next big opportunity for global solar growth, according to IHS, where photovoltaic (PV) installations are expected to rise at about triple the global average from 2012 through 2017.
Annual installations in emerging countries are expected to increase to 10.9 GW in 2017, expanding at a compound annual growth rate (CAGR) of 38 percent from 2.2 GW in 2012, according to IHS. In contrast, the overall global market will expand at a CAGR of only 13 percent during the same period. The emerging markets will account for 19 percent of global installations in 2017, up from just 7 percent in 2012. "Across the world, new markets for solar PV are emerging, propelled by government incentives, including tenders for large-scale contracts, feed-in-tariff (FIT) schemes and self-consumption support," said Josefin Berg, senior PV analyst at IHS. "Although these markets sometimes have huge hurdles -- like limited financing, regulatory uncertainty and opaque local regulatory conditions -- companies throughout the solar supply chain can benefit from targeting these fast-growing emerging countries." Thailand and Turkey are expected to become the largest markets with both having the potential to install a cumulative total of nearly 3 GW from 2013 to 2017. The Thai market has already taken off because of its adder scheme, under which the government pays feed-in premiums to solar power producers. IHS forecasts the biggest area of demand through 2017 -- at more than one-third -- to come from new markets in Europe due to its relatively stable financial conditions and proximity to experienced PV companies. For more: Sign up for our FREE newsletter for more news like this sent to your inbox! © 2013 FierceMarkets. All rights reserved. http://www.fierceenergy.com http://www.fierceenergy.com/story/pv-installs-triple-2017-emerging-countries/2013-09-30 |