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U.S. Solar Market; Robust and Resilient

August 24, 2012, 06:31 AM
Filed Under: Energy

Solar Industry reported that the Americas solar photovoltaics market more than doubled in the first half of 2012 according to IMS Research's third-quarter PV Demand Report. Installations in the Americas grew by more than 120% in the first half of this year according to the research firm.

Aside from China, the report found that the U.S. would be the largest single contributor to global PV growth this year, accounting for 40% of new capacity growth. In contrast, the European market is predicted to shrink by almost 3 GW this year, despite the strong start to the year in Germany.

The report quotes Ash Sharma, IMS Research’s PV research director saying, “IMS Research remains optimistic about the potential for the U.S. PV market, and we predict it will grow to at least 3.5 GW in 2012 and become the world’s third-largest PV market.”
Global demand is predicted to accelerate in the second half of the year, despite the slowing in the key European markets of Germany and Italy.

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