Quantcast

Substantial Solar Energy Expansion Predicted Worldwide for 2014

Business

With less than two weeks remaining in 2013, it's not too early to think about the potential growth for renewable energy in 2014.

Mercom Capital Group, an Austin, TX-based clean energy communications and consulting firm, got the ball rolling this week by releasing its solar industry outlook for next year. While the company compares the leading nations and their prospective solar installations, the report begins with a look at the global picture.

In all, Mercom expects 43 gigawatts (GW) of new installations around the world in 2014. Back in February of this year, the European Photovoltaic Industry Association said the world surpassed the 100-GW mark of solar capacity.

Mercom CEO and co-founder Raj Prabhu is encouraged by the industry's stability and believes countries across the globe will collectively add 5.5 GW more than they did in 2013.

“Helped by strong demand, the module oversupply situation has improved," Mercom CEO and co-founder Raj Prabhu said. "Prices are stable, and manufacturers are reporting shipment growth and ramping up capacity.”

Graphic credit: Mercom Capital Group

Mercom predicts that new U.S. installations will total 6 GW in 2014, which would be impressive given resistance from some states and the ongoing, congressional debate regarding the future of federal renewable energy policies. Those 6 GW would be adding on to the country's current total of 10.25 GW.

The report says utility-scale projects and leased residential projects have been the main drivers of U.S. growth. through third party-financed residential installations have been the catalysts of growth. Third-party owned installations earned $3 billion in solar lease funds to finance installations so far this year.

Mercom predicts that the U.S. will trail only China and Japan in new installations next year.

Graphic credit: Mercom Capital Group

“At the moment, Japan is a ‘wild card,” Prabhu said. "Though forecast to be the second largest market in 2014 with 7 GW installed, there are some mixed signals coming out of Japan.”

Mercom says the Japanese government is still examining solar energy and its role in the mix of available power, making for an unclear picture when it comes to future policies.

Similar to other organizations, Mercom envisions the U.S. rising above Germany in solar installations. India, Italy and the United Kingdom are each expected to add at least 1.5 GW.

Visit EcoWatch’s RENEWABLES page for more related news on this topic.

EcoWatch Daily Newsletter

Artist's conception of solar islands in the open ocean. PNAS

Millions of solar panels clustered together to form an island could convert carbon dioxide in seawater into methanol, which can fuel airplanes and trucks, according to new research from Norway and Switzerland and published in the Proceedings of the National Academy of Sciences journal, PNAS, as NBC News reported. The floating islands could drastically reduce greenhouse gas emissions and dependence on fossil fuels.

Read More Show Less
Marcos Alves / Moment Open / Getty Images

More than 40 percent of insects could go extinct globally in the next few decades. So why did the U.S. Environmental Protection Agency (EPA) last week OK the 'emergency' use of the bee-killing pesticide sulfoxaflor on 13.9 million acres?

EcoWatch teamed up with Center for Biological Diversity via EcoWatch Live on Facebook to find out why. Environmental Health Director and Senior Attorney Lori Ann Burd explained how there is a loophole in the The Federal Insecticide, Fungicide, and Rodenticide Act under section 18, "that allows for entities and states to request emergency exemptions to spraying pesticides where they otherwise wouldn't be allowed to spray."

Read More Show Less
Sponsored

Zero Waste Kitchen Essentials

Simple swaps that cut down on kitchen trash.

Sponsored

By Kayla Robbins

Along with the bathroom, the kitchen is one of the most daunting areas to try and make zero waste.

Read More Show Less
View of downtown Miami, Florida from Hobie Island on Feb. 2, 2019. Michael Muraz / Flickr

The Democratic candidates for president descended upon Miami for a two-night debate on Wednesday and Thursday. Any candidate hoping to carry the state will have to make the climate crisis central to their campaign, as The New York Times reported.

Read More Show Less
A pumpjack in the Permian Basin. blake.thornberry / Flickr

By Sharon Kelly

On Monday, the Wall Street Journal featured a profile of Scott Sheffield, CEO of Pioneer Natural Resources, whose company is known among investors for its emphasis on drawing oil and gas from the Permian basin in Texas using horizontal drilling and hydraulic fracturing, or fracking.

Read More Show Less
Sponsored
Pexels

By Craig K. Chandler

The federal government has available to it, should it choose to use them, a wide range of potential climate change management tools, going well beyond the traditional pollution control regulatory options. And, in some cases (not all), without new legislative authorization.

Read More Show Less
Denis Poroy / Getty Images

By Dan Gray

Processed foods, in their many delicious forms, are an American favorite.

But new research shows that despite increasing evidence on just how unhealthy processed foods are, Americans have continued to eat the products at the same rate.

Read More Show Less

By Sarah Steffen

With a profound understanding of their environmental surroundings, indigenous communities around the world are often cited as being pivotal to tackling climate change.

Read More Show Less