Europe leads PV uptake charts as global growth continues

March 30, 2015 // By Paul Buckley
Preliminary market numbers show that the PV market grew again in the 2014 according to a report published by the International Energy Agency Photovoltaic Power System Programme (IEA PVPS).

The IEA PVPS 'Snapshot of Global PV Market 2014' report, published on 30 March showed that in total, about 38.7 GW of PV capacity was installed in the IEA PVPS countries and the major other markets during 2014 (2013: 37.6 GW). As a result the total installed capacity in IEA PVPS countries and key markets rose to at least 177 GW, with 155 GW in IEA-PVPS countries and another estimated 22 GW of capacity installed in other major countries.

In 19 countries the annual PV contribution to electricity demand has passed the 1% mark, with Italy at the top with at least 7.9 % followed by Greece at 7.6% and Germany at 7%. The overall European PV contribution amounting to around 3.5% of Europe's electricity demand. Australia, Denmark, Israel and Japan have also passed the 2% mark but larger consumers of electricity such as China or the USA will require more PV capacity to reach this threshold.

After several years of rapid growth and a stabilization in 2012, the PV market grew in 2013 to at least 37.6 GW. The PV market grew slightly in 2014 to 38.7 GW. The Asia Pacific region represented in 2014 around 59% of the global PV market and the first region for the second year in a row. While Europe still represented 59% of this global market in 2012, its market share felt to 18%, a consequence of a reduced market in Europe and a growing global PV market.  The PV market in the America's continued to grow with the USA, Canada and Chile leading the pace. The Middle East remains a region in development for the PV market, despite PV plants announcements but Africa installed close to 1 GW thanks to the South African PV market.