Global Market Outlook for Solar Power 2015-2019

Released by SolarPower Europe, the new European Photovoltaic Industry Association (EPIA), the ”Global Market Outlook for Solar Power 2015-2019” market report reveals that "the global solar sector has reached a cumulative capacity of 178 Gigawatt (GW) in 2014, multiplying the installed capacity by a factor of 100 in only 14 years of development. China, Japan and the USA lead the world's solar market in 2014, while Europe installed 7 GW, with the UK leading the way, contributing 2.3 GW in 2014. The success of the UK, set to be the largest European market again in 2015, reinforces the evidence that solar power is a versatile and cost-efficient energy source in any climate, said James Watson, CEO of SolarPower Europe. He added: "Solar power could grow by 80% in Europe by 2020".

Key Findings

• At least 40 Gw of PV systems were installed globally in 2014, up from 37 GW in 2013 setting a new record for the solar PV sector.
• China, Japan and USA were the three top markets in 2014.
• The 540 GW mark at a global level could be reached in five years’ time.
• 7 GW of PV capacity were connected to the grid in Europe in 2014, compared to 10.5 GW in 2013 and 17.7 GW in 2012.
• For the first time, the United Kingdom lead the development of solar power in Europe with 2.4 GW, followed by Germany (1.9 GW) and France (927 MW).
• Solar PV is covering more than 7 % of the electricity demand in 3 countries in Europe: Italy, Germany and Greece.
• Solar Power could grow in Europe by 80 % by 2019.