Driven mainly by growth in the US and China, REC is expecting total global module installations to reach 59 GW in 2015, representing an increase of 35 percent compared to 2014, and 65 GW in 2016. Furthermore, REC management expects a strong agreement at the UN Climate Change conference (COP21) in Paris in late November or early December. This should give solar an even stronger push.
REC has further strengthened its position in the US, judging by various long-term supply agreements in the residential, commercial and utility segments. If a reduction in tax incentives is confirmed, depending on the final conclusion, the company expects a slowdown of the utility and large commercial segments but stable progress in the residential and small/mid-scale commercial markets. The company is forecasting more conservative market developments for 2015 and 2016 in Europe at around 7 GW per year, mainly due to slower markets in Germany and the UK but is anticipating stronger residential and commercial markets in Europe as of 2017.
A briefing of REC’s Q3 2015 Solar Market Insight is available here.
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