Solar PV financial analysts at the US arm of Deutsche Bank have lowered expected global demand due to a number of challenges facing the sector.
In a detailed 2015 outlook of the PV sector, Deutsche Bank said it was “tempering demand expectations” due to several country-specific issues impacting previously expected installation levels in 2014 that would also impact its previous 2015 market growth expectations.
Deutsche Bank guided global PV demand in 2014 would reach around 45GW, down from previous guidance of 49GW and inline with former guidance by NPD Solarbuzz.
The bank also lowered its forecast for demand in 2015 to 54GW, down from 59GW previously guided.
Deutsche Bank said that trade cases in China, US and Europe as well as regulatory uncertainty in Japan and India were behind the downward forecasts. However, Deutsche Bank also noted that slowing implementation of policies supporting PV in South America and the Middle East would also play a part in less demand than previously expected.
On a more upbeat point, Deutsche Bank reiterated that despite the forecast adjustments the bank still expects “double digit growth in 2014 and accelerating growth in 2015".