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Global solar installations will reach the 43GW mark in 2014, according to clean energy consultancy Mercom.
The group expects next year to provide some much-awaited stability.
“Helped by strong demand, the module oversupply situation has improved. Prices are stable, and manufacturers are reporting shipment growth and ramping up capacity,” said Raj Prabhu, CEO and co-founder of Mercom Capital Group.
The report expects China to install 10.5GW of the 12GW target it has set for itself. The US is forecast to reach 6GW but Mercom is less sure about the prospects for solar in Japan.
“At the moment, Japan is a wild card,” said Prabhu. “Though forecast to be the second largest market in 2014 with 7GW installed, there are some mixed signals coming out of Japan.”
Prabhu was referring to grid connection issues and the possible threat of project cancellations.
As PV Tech reported in October, there are concerns that plants approved for the feed-in tariff are being delayed to allow technology costs to continue to fall, boosting the projects’ profitability. The government is now considering the posiibility of withdrawing that approval from selected projects.
Mercom expects the UK, Italy and India to install gigawatt-scale new solar capacity in 2014.