Ihs Increases 2015 Pv Forecast to 59 Gw, 2016 to 65 Gw

IHS increases 2015 PV forecast to 59 GW, 2016 to 65 GW

13. OCTOBER 2015 | APPLICATIONS & INSTALLATIONS, GLOBAL PV MARKETS,INDUSTRY & SUPPLIERS, INVESTOR NEWS, MARKET & TRENDS | BY:  BECKY BEETZ

IHS Inc. has raised its global solar PV forecasts for the next two years, to 59 GW and 65 GW, respectively. The U.S. and China are leading the charge. In 2019, meanwhile, over 70 GW is expected to be installed.

Solar PV installation activity in China has contributed to IHS' increased forecasts

Zhenfa New Energy

Representing the most bullish figures for 2015, IHS has raised its global solar PV target from 57.3 GW to 59 GW, thus representing a 33% increase on 2014’s installation figures, which reached 44.2 GW, according to the analysts.

In 2016, it expects to see over 65 GW installed, more than 2 GW more than initially anticipated. This will result in a cumulative capacity of 300 GW.

The forecasts have been raised due to installers looking to complete projects in the U.S.before the ITC deadline; and increased installation targets in China, from 17.8 GW to 23.1 GW, which were reported in various media last week.

Activity in India and other Asian countries is also contributing to the raised targets.

IHS has come out with the most positive installation figures for 2015. The table below outlines other analysts’ expectations for this year:

Analyst | 2015 solar PV installation prediction |

IHS | 59 GW |

Mercom Capital | 57.4 GW |

Bloomberg New Energy Finance | 58.3 GW |

GTM Research | 55 GW |