The Solar Panel Explosion Coming in 2014 and Opportunities to Watch For
With governments and major institutions around the world making new commitments to renewable energy, many experts are predicting a huge boom in solar energy in 2014 and beyond. The solar panel market has continued to rise and expand throughout 2013, and this year, Deutsche Bank forecasted that the solar market would transition from subsidized to sustainable in 2014 (1). For more on this expected “solar panel explosion,” let’s take a look at some of the emerging markets and some big opportunities to watch for.
Big Demand in Asian Markets
A recent report by market analysis firm NPD Solarbuzz forecast that demand for solar panels in the Asia Pacific market would double in the second half of 2013. “Having entered 2013 with a highly cautious outlook, tier-one suppliers are poised to exit the year with restored confidence, ahead of optimistic shipment and margin guidance for 2014,” said Finlay Colville, vice president of NPD Solarbuzz (2). In addition, a 2013 report by GTM research found that major Chinese solar panel manufacturers were on track to reducing production costs by 30% in the next three years (3). On top of that, Singapore’s solar usage looks to be on track to reach grid parity by 2014 (4), and India is even preparing to launch its first floating solar power station (5). All of this means that the Asia Pacific market will be a major focus for the solar power industry in years to come, both in terms of installations and production.
Growing Demand for Solar Power in Emerging Middle Eastern Markets
This September, the Israeli Parliament officially announced their plans to make their building solar secure by 2014 by installing a large rooftop solar array. This announcement marks a shift in the Israeli market towards a larger dependence on solar power.
“Solar power has become economical in Israel, and we’re at the start of a process which will change the urban landscape over the coming years,” said Renewable Energy Association of Israel CEO Eitan Parnas (6). No longer a slow market for renewable energy, the Middle East will be an interesting emerging market to watch in 2014.
A Solar Powered World Cup?
When a major international sporting body like FIFA adapts a new policy, it means that the policy has really hit the mainstream. Recently, the football governing body announced plans to make the next World Cup in Brazil “the greenest World Cup ever.”
Their planned $20 million investment in green energy for Brazil is slated to include funding to install solar panels on at least seven of the 12 stadiums that will be used in next year’s World Cup (7). This could lead to an increased demand in solar energy in Brazil and throughout South America.
In addition to these major developments around the world, there will be several major solar energy conferences to watch for in 2014, including events in Australia, India, and Brazil. These conferences will be great opportunities to showcase Gold Coast Solar Power, and to see how the rest of the world is reacting to this solar explosion.