Solar panel demand soars

Solar farm in Arizona - Wikimedia CommonsThe five main markets for photovoltaic (PV) products are set to demand even more supplies.

Trendforce, a Taiwanese market research company, said the five biggest regions consuming PV technology are China, Japan, the USA, the UK and Germany, but demand from India is also increasing.

Overall, it seems that growth will flatten for both the UK and for Germany but China and the USA will all see strong growth.

Patrick Lin, an analyst for Trendforce Energytrend’s division, said demand will rise in 2016 to total 58GW (gigawatts). “Asia, America, Europe and the Middle East and Africa will each take 57 percent, 26 percent, 11 percent and seven percent of global market share next year.”

Lin said, however, there will be oversupply because Chinese manufacturers are set to complete production capacity expansion.

Other countries that have invested in solar this year are Saudi Arabia, Israel, South Africa and Algeria. UK government policy is moving toward zero subsidy for solar panels.

PV demand 2015-2016