Global solar PV to reach 24 GW in 2011

Global solar photovoltaic (PV) installations could reach 24 GW in 2011, according to IMS Research.

Solar PV installations are set to rise by 24% in 2011 to reach 24 GW, up from 19 GW in 2010.  Italy is predicted to displace Germany as the world’s largest market.

IMS Research’s shows that solar PV installations exceeded 8 GW in the first half of 2011 and are set to reach 15 GW in the second half confirming the prediction that solar PV installations would soar.

Europe’s share falls

Despite a freeze and then cuts to its incentives earlier this year, Italy is forecast to become the world’s largest solar PV market in 2011 for the first time; and install 6.8 GW of new capacity.

“ Europe’s share of global installations will sharply fall from 82% in 2010 to 68% in 2011,”

Growth from Americas & Asia

Although Europe is stagnating, the American and Asian markets are performing well; these two regions could generate 85% of the global growth in solar PV installations in 2011. Furthermore, the research found that this trend is forecast to continue into 2012.

Diversification is clearly continuing to happen and we have identified 20 markets that will install more than 100 MW in 2011, up from just 14 last year,”

UK among top 10 in 2011

“Despite installing just 45 MW last year, the UK is set to install more than 500 MW in 2011 and become the 8th largest PV market. The attractive incentive levels helped kick-start the market, but the changes to the tariff during the year to prevent large-scale projects and the sudden cuts proposed for December have created a surge in demand,” Sharma says.

“Installation rates in China have rocketed since the introduction of provincial and the national FiTs;

Installations in China could reach as much as 2.5 GW this year, with IMS Research predicting a level of around 1.9 GW to be most likely,”