Solar capacity is growing quickly throughout the world
The global solar energy industry is experiencing healthy growth, according to a report from BSW-Solar, a German solar power association. Over the past few years, the solar market has been maturing quickly, with new technologies emerging and easing the adoption of clean power. New projects have received strong support throughout the world and several countries have begun supporting solar energy for both economic and environmental purposes. In the coming years, global solar capacity is expected to reach new heights, largely due to the support prominent countries have been showing this form of renewable energy.
Global capacity expected to reach 400 GW within the next four years
BSW-Solar predicts that global solar capacity will reach 400 gigawatts within the next four years. At the end of 2014, global capacity reached 178 gigawatts, and will soon breach the 200 gigawatt threshold. Approximately 22 gigawatts of solar capacity was added worldwide during the first half of 2015 and an estimated 50 gigawatts of capacity will be installed this year in total. Notably, four markets are driving growth in the solar sector: China, Japan, India, and the United States.
Four countries see great promise in solar energy
These countries have seen significant promise in the economic prospects of solar energy. In China, the manufacture of photovoltaic products has contributed heavily to the falling cost of solar power and India is beginning to turn to this form of energy in order to become more environmentally friendly. Japan has plans to become more energy sustainable in the future and abandon its use of fossil-fuels, while the United States intends to use solar energy as a way to reduce emissions. In both of these countries, solar has seen significant growth within the residential sector.
Large-scale projects are becoming more popular
Solar energy is likely to continue growing, especially among homeowners that are interested in reducing their energy expenditures. Large-scale projects are gaining more support in many parts of the world, as these projects have the ability to produce large quantities of electrical power than can be fed into an existing energy infrastructure.