Solar energy has a bright future, according to new analysisOctober 29, 2013
Deutsche Bank has high hopes for solar energy
Solar energy has made strong progress throughout the world over the past several years. In the past, this form of clean power had attracted a great deal of attention due to its novelty. Now, however, solar energy has become quite commonplace in many countries. While the novelty of solar energy may have worn away, the progress it is making has not slowed down. A new analysis from Deutsche Bank shows that the solar energy sector continues to see strong growth, especially when it comes to the manufacture of photovoltaic modules.
Analysis predicts global solar market to surpass 50GW by 2014
According to the analysis, the global market for photovoltaic modules is expected to reach 50 gigawatts by 2014. The demand for these modules has been growing rapidly over the past few years, especially as their cost continues to fall. Costs are falling as the production from module manufacturers increases. Chinese manufacturers have played a significant role in the falling costs associated with solar energy due to their high production capabilities.
US and Japan may power demand
The analysis suggests that China will continue to play a major role in the availability of photovoltaic modules, but countries like the U.S. and Japan may account for the majority of the demand for these energy systems. Both countries have a strong interest in solar energy, largely due to the economic promise it represents. Solar energy is also likely to help both the U.S. and Japan cut down on the emissions they are responsible for, complying with their own environmental policies.
Solar energy continues to prove it is more than a novelty
Deutsche Bank has a positive outlook on the solar energy market. The solar sector has proven itself to be resilient against problematic economic trends and a general lack of aggressive support from the majority of the world’s governments. While some companies specializing in solar energy have met with unfortunate ends, many companies have managed to thrive in a sector that once been considered nothing more than a novelty.