Global solar power installations are projected to touch 48,000 MW in 2014, much higher than the generation capacity added last year amid policy adjustments in some countries.
Mercom Capital Group, a global clean energy communications and consulting firm, today said that the first half of 2014 was not spectacular in terms of solar energy capacity additions.
“… but with recent policy adjustments being implemented, especially in China, another strong year is forecast with installations of approximately 48 GW (48,000 MW) in total,” it said in a statement.
In 2013, solar installations touched 38,000 MW. Raj Prabhu, CEO and Co-Founder of Mercom Capital Group, said that after a slow first half, it would be a rush to the finish for global solar installations this year with a lot depending on execution in China, Japan and UK.
For India, the projection is about 1,000 MW this year almost same as seen in 2013.
“The Indian solar market has been stuck around the 1 GW mark for the last few years. With a new administration in power, policy makers have gone back to the drawing board and are in the process of implementing new programmes which will have much bigger installation targets. All signs point to the Indian solar market taking off after 2015 and it could become one of the larger markets along with China, Japan, and US,” the statement said.