Photovoltaic system installations are set to show a transformation in the second half of the year and more than double over first half-year figures, according to IMS Research’s latest ‘Global PV Demand’ report. The market research firm has even revised its forecast to cater for the strong demand expectation, fueled by a recovery in the German market and strong growth in the US and Asia. IMS Research expects PV installations to reach more than 22GW this year, 1GW higher than its previous forecast.
“Although installations grew just 13% in Q2 from Q1 the results of our latest report show that there will be a huge surge in installations in the second half of the year,” remarked Ash Sharma, senior research director for PV at IMS Research. “Several midsized markets like the USA are growing massively whilst markets like Germany and Italy are starting to pick up too.”
Although German PV installations are projected to fall in 2011, compared to last year, Europe overall is forecasted to be only 1% down in 2011. The UK and Slovakia were said to have helped fill the void, according to IMS Research.
The new report revealed that 11 countries in Europe will install at least 100MW this year, with 20 countries globally installing the same or more, which is up from just 13 in the previous year.
Recent news regarding China has also had an impact on expected PV installations.
“We earlier predicted the introduction of a PV FIT in China once prices had fallen to an acceptable level, and we’re forecasting installations of 1.3 GW this year and more than 2 GW in 2012,” added Sharma.
IMS Research projects that China will become a key installation market in the future, becoming one of the top three global markets in 2015.
“Despite many still predicting doom and gloom, our latest research, which analysed more than 60 downstream markets and surveys hundreds of participants through the industry and supply chain, presents a very different picture. The decision by the Chinese Government to introduce a national FIT to boost flagging demand, as well as a diversifying global market and the introduction of new incentive schemes globally present a much more optimistic, but still very challenging future for the industry,” concluded Sharma.