China Will Take Gold In The 2014 'Solar Power Olympics'

China is projected to install 12,000 megawatts of solar power in 2014, giving it the "gold medal" in the figurative 2014 Solar Olympics, according to GTM Research.

That amount will be greater than what the United States has installed in all of its solar history.

Japan will take "silver" in 2014 with 7,500 megawatts forecast. The U.S. will take bronze at 5,300.

"China's rise to the top in global PV installations has been impressive, to say the least," GTM Research solar analyst Adam James said in the release. "Although transparency continues to be a problem in accurately sizing the market, GTM sees the shift to production-based incentives and increased downstream financing support driving deployment to new heights over the next few years."

For the first time in the past four year period, no European country will feature on the podium.

"While European feed-in tariff markets have been great at the short-distance events, the global solar market is clearly aiming toward the long-distance contenders in Asia and North America," said Shayle Kann, senior vice president at GTM Research. "But don't count out emerging markets. By the time the Summer Olympics roll around in Rio, Latin America will be a PV force to contend with."

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