Leading solar PV countries offer suppliers and developers a choice of 4,300 PV projects
Santa Clara, California. – Solar photovoltaic (PV) projects between 250 kilowatts (kW) and five megawatts (MW) now account for almost half of the yet-to-be-completed 4,300 commercial and utility projects within the leading PV countries, according to the new NPD Solarbuzz Global Deal Tracker report.
The leading countries for solar PV demand now include five major countries in the Asia-Pacific region (i.e., China, Japan, India, Thailand, and Australia), four European countries (i.e., Germany, U.K., Italy, and France) and North America (i.e., United States and Canada). Collectively, these end-markets are expected to provide more than 80% of global solar PV demand during the next five years.
The total project pipeline for the leading solar PV countries has reached almost 95 gigawatts (GW), with the largest projects, in excess of 50 MW, making up 68% of the total capacity on offer, although there are currently less than 500 such projects in the pipeline. “While projects in excess of 50 megawatts account for most of the solar PV pipeline capacity, smaller projects up to five megawatts can typically be approved and completed within a matter of months, making this segment particularly interesting to suppliers and developers,” according to Chris Beadle, analyst at NPD Solarbuzz.
China, Japan, and the United States are expected to drive new solar PV capacity deployment over the next five years. Currently, these three leading countries offer a pipeline of more than 3,600 PV projects of greater than 250 kW, which is equivalent to a total capacity of 65 GW. NPD Solarbuzz forecasts that 24 GW of new commercial and utility projects will be completed in these three countries during 2014.
Figure 1: Breakdown of 4,300 Projects Within the Pipeline of the Leading Solar PV Countries
“Understanding the status of the project pipeline within the leading global markets is critical to component suppliers and project developers seeking to participate in the high-growth solar PV industry,” added Finlay Colville, vice president at NPD Solarbuzz. “With global PV demand still concentrated among just a few countries, sales and marketing efforts will achieve the greatest rewards when they are aligned with projects that have the best chance for near-term deployment.”
For more information about the NPD Solarbuzz Global Deal Tracker, contact us at one of our seven global locations, email us at [email protected], or call Charles Camaroto at 1.516.625.2452.
About NPD Solarbuzz
NPD Solarbuzz is a globally recognized market research business focused on solar energy and photovoltaic industries. Since 2001, NPD Solarbuzz has grown its client base to include many of the largest global PV manufacturers, major investment banks, equipment manufacturers, materials suppliers, hedge fund companies, and a vast range of other multi-nationals. NPD Solarbuzz offers a wide array of reports, including Marketbuzz, an annual global PV industry report, and Solarbuzz Quarterly, which details both historical and forecast data on the global PV supply chain. The company’s research also provides annual downstream PV market reports by region for Europe, Asia Pacific and US markets. In addition, Solarbuzz.com is a recognized and respected online resource within the solar industry. For more information, visit www.solarbuzz.com or follow us on Twitter at @Solarbuzz.
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Source: NPD Solarbuzz Global Deal Tracker