Cumulative global PV deployment will come close to hitting 200GW in the final three months of 2014 as installations in the quarter surpass 19.5GW, according to figures from NPD Solarbuzz.
The market research firm said the record quarter would be driven largely by installations in China and would ensure the world surpasses the 50GW forecast many analysts predicted at the start of the year.
Although China had a slow start to the year in reaching its 13GW target for 2014, Solarbuzz said its Q4 installations are expected to hit 7GW, double the previous quarter.
Japan and the US are also expected to have a strong quarter, combining with China to account for around 70% of the total capacity installed in the quarter.
Solarbuzz added that with strong demand helping to balance the previous equipment oversupply in the market, investments in new manufacturing facilities were likely to be announced soon.
“Global PV end-market demand continues to set new records, restoring investor confidence in the PV industry after several years of overcapacity and declining profits,” said Michael Barker, senior analyst at NPD Solarbuzz. “Having been put on hold over the past six months, due mainly to trade-related uncertainties, record quarterly and annual shipment levels will prove crucial to investors that have been hesitant to commit to new capacity funds.”