Global Market Outlook confirms new record year of growth for the global solar sector
Our latest SolarPower Europe Global Market Outlook was launched at the official opening of Intersolar Europe in Munich on 9 June, showing both the latest solar market trends and our projections for the coming five years globally and in Europe.
This years report confirms that solar has become a cost-effective and versatile power source that is growing around the world. Far beyond being a European whim, the leading solar markets in 2014 were China, Japan and the USA, while a record of 40GW of solar capacity was installed around the world. This is largely thanks to the increasing competitiveness of the technologies, with costs having come down by 75% in less than 10 years.
The market in Europe was at 7GW of new installations in 2014, down from 10.5GW in 2013. For the first time, the UK lead the development of solar power in Europe with 2.4 GW, followed by Germany with 1.9GW and France with 900MW. Today, solar power is covering more than 7% of the electricity demand in 3 countries in Europe: Italy, Germany and Greece, and we estimate that the installed capacity in Europe could grow by 80% by 2019. Of course, SolarPower Europe will continue working on creating the conditions for this positive scenario to be realised.
As every year, we trust that our annual publication will be an important and valuable reference for you, for media and for policymakers.
As a new feature, this year we have published two versions:
- the public Global Market Outlook as every year, which is accessible here.
- an exclusive longer version of the report for SolarPower Europe Members. As a Member, you will also have access to all the graphs and background data (in excel) of the analysis. After having logged in to the members area, you can find all the material here.
We hope you enjoy the reading.