Solar power to overtake wind for the first time

Solar power capacity is set to overtake wind for the first time this year, as a slowdown in the world’s two largest wind markets, China and the U.S., clear the way for a growing solar market, according to a report released Thursday.

Clean energy news and data provider Bloomberg  New Energy Finance forecast new onshore and offshore wind farms to add 33.8 gigawatts and 1.7 gigawatts, respectively, to global power markets.

That compares with an estimated 36.7 gigawatts of new photovoltaic, or PV, capacity, the first year in which solar power will add more megawatts than wind.

“The dramatic cost reductions in PV, combined with new incentive regimes in Japan and China, are making possible further, strong growth in volumes,” said Jenny Chase, head of solar analysis at Bloomberg New Energy Finance. “Europe is a declining market, because many countries there are rapidly moving away from incentives, but it will continue to see new PV capacity added.”

Wind may be down but not out. Wind installations will shrink by nearly 25% in 2013 to their lowest level since 2008, due to the slowdowns in the U.S. and China caused by policy uncertainty, BNEF said.

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

RBI Solar - Dahlia Has You Covered

RBI Solar - Dahlia Has You Covered

What if you could maximize the Ground Coverage Ratio (GCR) on your next project and not have to worry about the complicated variables that come with a tracker system? With a low tilt and clearance design, Dahlia® has the highest GCR of any fixed-tilt system in the marketplace. The system is available in three tilt options (7.5, 10 and 12.5 degrees) and designed to accommodate any sized PV module. The lightweight system is engineered with fewer components, several of which are shipped to job sites pre-assembled. This design feature reduces freight costs and rapidly trims the amount of on-site installation time required to complete construction. Maximizing PV coverage on a site can lead to an increase of production, which creates greater financial return for project owners. Over 100 MW of Dahlia® projects have been deployed across the United States, in regions of variable snow and wind loads. How much can Dahlia® cover and save you on your next project?