A record number of solar panels will be shipped by solar manufacturers this year, with an expected 52% increase in sales from 2013.
Quarterly profit reports from major solar distributors like Trina Solar Ltd, First Solar Inc and JinkoSolar Holding CO from across the globe have confirmed the industry’s expected growth and triumph for this year.
Due to a surge in demand in markets like the US, China and Japan, the industry is expected to develop a total of 50.3 gigawatts of electricity, up from 40.3 last year, according to Bloomberg data.
The top seven makers currently account for 20 gigawatts of the market’s output, with the US market to push expected growth by half this year alone. Germany’s largest solar distributer, Solarworld AG, shipped record modules in July and is seeing reflective growth this month too – regardless of its previous shortfall.
“Demand from both the China and overseas markets has picked up dramatically,” including the US, said Gao Jifan, CEO and chairman of Trina Solar.
An expected shortage in photovoltaic panels, due to a hike in global demand, is also expected to grow the market’s worth, as prices follow the availability of the product. Larger companies are expected to benefit the most, but the smaller, more vulnerable domestic market is predicting to go into a rapid decline as it is still reliant on subsidies.
The US, China and Japan solar markets have predicted a 14 gigawatt, 11.9 gigawatt and 5.6 gigawatt increase, respectively.
Photo source: Michael Mees via Flickr
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years