Major PV energy provider, SunEdison expects to complete up to 1.15GW PV power plant projects in 2014, a 90% (CAGR) increase over 2013.
SunEdison guided increased 2014 project completions from a previous range of 800-1,050MW to a range of between 900-1,150MW, during its Capital Markets Day event.
The company also provided guidance on plans to increase project installations to greater than 1,500MW in 2015 and above 2,000MW in 2016.
With increased focus on retained value of PV projects, SunEdison guided that it expected projects totalling between 50-60MW to remain on its balance sheet in the first quarter of 2014 and between 400 and 500MW for 2014.
Management highlighted that countries with large electricity markets and growing demand would drive PV adoption as well as countries with high solar irradiation levels in the coming two to five years. Many of which would find PV at grid parity in that timeframe.
The company also noted that it expected the transition towards ‘distributed generation’ (DG) including residential and small commercial to continue at a steady pace through 2020.
The global DG market was expected to account for around 17GW in 2014, up from 12GW in 2013. By 2020, DG installations are expected to reach 46GW out of a total market of 118GW.