Abstract On the 2nd, research firm IHS released a report forecasting that China will overtake Europe this year to become the largest market in the global solar industry. According to the report, China’s solar panel installations are expected to reach 13GW this year, making up 28% of the global total—surpassing the 10GW recorded in 2013. In contrast, Europe's installed capacity is projected to drop to 9.7GW in 2014, marking three consecutive years of decline after reaching a peak of 19GW in 2011. Meanwhile, Japan is expected to install 9GW this year, up from 6.3GW in 2013. Overall, global solar installations are anticipated to grow by more than 20%, reaching 46GW in 2014.
IHS noted that while government support for solar energy in Europe continues to weaken, other regions are experiencing improved conditions, which will help sustain global market growth. The firm emphasized that China’s strong push for green energy will play a key role in driving international demand. Furthermore, IHS maintains its long-term outlook for the solar industry, expecting an annual growth rate of at least 10% over the next five years, with total global capacity exceeding 400GW by 2018.
According to the European Photovoltaic Industry Association (EPIA), global solar installations reached 102GW in 2012.
Industry experts say that the report highlights a clear shift in global solar demand from Europe to Asia. As European governments scale back subsidies for renewable energy, Asian countries are significantly increasing their investments in solar power. This trend reflects a broader transformation in the global energy landscape, with emerging markets taking the lead in the solar sector.
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