Solar panel installations reached a record 9 gigawatts globally during the third quarter of this year.
According to the latest NPD Solarbuzz Quarterly report, PV demand was up 6% quarter over quarter and close to 20% higher year over year.
More than 17 GW of new solar PV has been installed during the second and third quarter of this year – close to 3GW more than at any time in the past.
“Restored confidence in end-market growth is allowing leading solar PV manufacturers to pursue aggressive shipment strategies within both established and emerging territories, despite previous concerns that trade wars could dampen growth,” says Michael Barker, senior analyst at NPD Solarbuzz.
While the plummeting cost of solar panels has been a blessing for end-consumers, for panel manufacturers it’s been somewhat of a curse. Wafer thin margins have forced many to close their doors; leaving stronger and more nimble companies to gobble up increasing market share.
However, there were continued signs of prices stabilising during Q3, with module ASPs decreasing by less than 1% Q/Q – far less than 2012’s massive 12% price decline between Q2 and Q3. Solarbuzz says end-market revenues have increased for three consecutive quarters and exceeded USD $13 billion during Q3’13; with an expectation the figure will reach $21 billion in the final quarter.
Solarbuzz forecasts 2013 revenues to be in the range of $65-75 billion. While this pales in comparison to 2011’s $92 billion; solar panel and system prices were far higher then than today – 20% – 50% more.
NPD Solarbuzz estimates that global PV demand for 2014 will be in the range of 45-55 GW; with the Asia Pacific (APAC) segment to account for more than half that figure and just two countries representing 40 – 45% of that demand – China and Japan.
