A new report from IHS Inc. forecasts that global photovoltaic installations will rise at the fastest pace in 3 years in 2014, exceeding 40 GW for this first time and generating installation revenue of more than $86 billion.
Annual solar installations are predicted to reach 41 GW in 2014, firmly marking the end of the solar sector’s two-year slowdown. IHS stands by its earlier prediction that installations this year will amount to 35 GW.
Solar PV installations in 2014 will rise by 17% – an increase from 15% in 2012 and 13% in 2013, the new report says. The year 2014 will bring the highest rate of growth since the 35% increase in 2011. Market revenue in 2014 will amount to slightly less than the all-time high of $89 billion set in 2011.
Read more in Solar Industry Mag