Leading investment house Deutsche Bank has dramatically lifted its demand forecasts for the global solar industry — predicting that 46 gigawatts of solar PV will be installed across the world in 2014, before jumping by another 25 percent to 56 gigawatts in 2015.
It notes that the world’s three biggest solar markets — coincidentally located in the world’s three biggest economies, the U.S., China and Japan — are currently booming and are likely to deliver what market analysts describe as more “upside demand surprises.”
But it also points to other countries such as India, Australia, South Africa, and Mexico, as well as regions in the Middle East, South America and Southeast Asia, as being likely to act as strong growth contributors.
“The majority of these markets are at grid parity and as such [are] sustainable,” the analysts state. “Moreover, we believe some of the grid and financing constraints that have inhibited growth so far are set to improve in 2014.”