Solar Set To Soar Worldwide This Year, 36% Growth!

While solar boomed in the US last year, there was one sector that lagged – the commercial sector. This year it will catch up.

Corporate installations are expected to grow 40% this year, says GTM Research, and a survey commissioned by Wiser Capital, the "2015 Solar Investment Index," helps explains why.  

20% of corporations surveyed say they have already invested in solar this year and 63% say it’s a priority for the next five years. 

The most common reason? They want to "support a cleaner energy future." They believe solar will soon be mainstream and can expect a strong return on investment. And they are inspired by leading companies like Google and Apple.  

Solar PV growth

What’s been holding them back? A lack of confidence in their ability to accurately assess a project’s risk and the right financing partners, and policy uncertainty, such as the availability of net metering and whether the ITC will be allowed to expire.

Wiser Capital connects financiers with property owners on an online platform to solve these problems. They connect investors with host facilities and solar installers, matching them based on specific qualifications and requirements.

Solar Will Soar This Year Worldwide

The global solar PV market will soar this year with about 55 gigawatts (GW) installed. That’s a stunning growth rate of 36% compared to an anemic 2% increase in 2014, says GTM Research in Global PV Demand Outlook, 2015-2020.

2014 was a transitional year, they say, and 2015 will be a transcendent year.

Led by China, the Asia-Pacific region will install more than half of it, the US will continue to grow and Europe will begin a new upswing, says the report. China will likely install 14 GW alone, and the US, 8 GW.

"Our core thesis is that solar is poised for exponential growth that will help it account for roughly half of new capacity out to 2020," says GTM. "While solar demand will grow almost everywhere, there are some key drivers, including unprecedented demand in emerging markets, the evolution of grid parity in Europe, and massive headroom in developing countries such as China and India."

By 2020, GTM Research forecasts the solar PV market to hit 135 GW of annual demand, with cumulative installations hitting 700 GW.

Solar demand will likely be almost entirely market-based in 2020; a dramatic shift from 2012 when almost all demand was premised on direct incentives.

Read the report: 

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