Solar Tribune

Bloomberg: China set to lead global PV growth for 2013


According to Bloomberg New Energy Finance (BNEF), the global solar industry is set to bounce back in 2013, after a difficult 2012.

BNEF surveyed seven industry analysts, who forecast that new solar capacity will increase by 14 percent in 2013, up to 34.1 GW – that’s much more positive that the only 4.4 percent growth in 2012.

“Solar demand is proving very resilient and will keep growing this year even as European markets slump,” said Jenny Chase, head of solar analysis at Bloomberg New Energy Finance in Zurich.

“A further increase in installations driven by record- low prices, however, won’t do much to help manufacturers’ margins.”

Major Chinese PV manufacturer Yingli Solar's 2MW installation in Salerno, Italy. Credit: Yingli Solar

BNEF predicts that China will jump ahead of Germany as the world’s largest solar market this year, thanks to massive support from the Chinese government.

Earlier this year, China more than doubled its annual solar capacity target for 2013 up to 10 GW, and plans to reach 35 GW of installed capacity by 2015.

The analysts also noted that Japan and the U.S. saw greater growth in PV in 2012 than most European markets, and predict that these countries will spur the industry’s expansion for 2013.

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