A surge in PV demand across the Americas is likely but it will require policy changes to support it, according to a report by NPD SolarBuzz.
The US is currently ahead of the pack in the Americas when it comes to the PV market, however new policies and developments will trigger greater demand across the region.
New policies in Canada, Chile and Brazil show great potential with continental interest and a possibility for increased demand in solar, diversifying market options in the Americas.
SolarBuzz’s Michael Barker said the rate of possible solar growth to GW levels in emerging countries “remains unclear”, and “accurate tracking of project announcements, incentive policies, regulatory rulings, and financing options” are required to help stimulate growth.
In Canada a stable PV market is hoped for with changes to lower Ontario’s Feed-in tariff scheme set to bring it in line with the World Trade Organisation’s regulations. Pipeline projects in the country's primary PV province exceed 1GW.
In Brazil the first energy auction to include solar, with 2.7GW being auctioned, is scheduled for 18 November as part of the Empresa de Pesquisa Energetica (EPE). A total of 109 registered bidders will pitch for projects to be completed by January 2016.
Meanwhile Chile has approved a new 20% renewable energy target by 2025.