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2014 global solar photovoltaic industry record first quarter demand record

  • Author:John
  • Release on :2014-05-26
PV demand is expected to exceed 50GW for the first time in the next 12 months

NPD Solarbuzz Shanghai Office, April 2, 2014 -- According to NPD Solarbuzz's latest quarterly report, Solarbuzz Quarterly, the global demand for new solar PV in the first quarter of 2014 exceeded 9GW, an increase of 35% over the same period last year. In fact, the demand for the solar PV industry will reach a new high in each of the following quarters in 2014, and the total demand in the first quarter of 2015 is expected to exceed 50 GW for the first time in 12 months.

Demand in the first quarter of 2014 was mainly driven by strong growth in the Japanese and UK markets. Demand in these two countries exceeded one-third of the total global PV demand, creating a new record for PV installed capacity in the first quarter.

Michael Barker, senior analyst at NPD Solarbuzz, said: “This is the fifth consecutive year to create a new record for demand in the first quarter. Although demand in the first quarter is usually the lowest in the year, this level of installation is forecast for the next few quarters. The demand provides a good benchmark."

In general, solar PV demand in the first quarter accounts for up to 20% of annual demand. For example, the demand for the first quarter of 2013 was nearly 7 GW, while the demand for the whole year exceeded 37 GW. Barker added: "If it is purely proportional, strong demand in the first quarter of 2014 gives us reason to believe that the demand for solar PV in 2014 is expected to reach or exceed the 49GW level previously forecast by NPD Solarbuzz."

Global demand for the 12 months to the first quarter of 2014 has reached nearly 40GW. From the second quarter of 2014 to the first quarter of 2015, the demand for photovoltaics is expected to exceed the 50GW mark, which will make the industry supply and demand relationship more reasonable.

Figure 1. Total demand (in GW) of TTM (last 12 months) from the first quarter of 2011 to the first quarter of 2015

Source: NPD Solarbuzz Quarterly Report Solarbuzz Quarterly, March 2014

Finlay Colville, vice president of NPD Solarbuzz, added: “In the past few years, the solar PV industry has been waiting for an increase in demand in the end market to absorb the excess capacity that was added between 2010 and 2012. Now this wait has finally come to fruition. With an annual demand for PV of 50 GW, suppliers will be able to shift their strategic focus from short-term survival to long-term planning."




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