26 Sep '13, 3pm

#Solar to add more MW to global capacity than wind this year

Bloomberg New Energy Finance (BNEF) predicts that 33.8 GW of new onshore wind farms, plus 1.7 GW of offshore wind, will be added globally in 2013. This compares with its median forecast of 36.7 GW of new photovoltaic capacity. This year is set to be the first in which PV has added more MW of capacity than wind, BNEF says. In 2012, wind - onshore and offshore - added 46.6 GW, while PV added 30.5 GW - record figures in both cases. But this year, the market analysis firm says, a slowdown in the world’s two largest wind markets, China and the U.S., is opening the way for the rapidly growing PV market to move ahead. "The dramatic cost reductions in PV, combined with new incentive regimes in Japan and China, are making possible further, strong growth in volumes," says Jenny Chase, head of solar analysis at BNEF. "Europe is a declining market because many countries there are rapi...

Full article: http://www.solarindustrymag.com/e107_plugins/content/cont...

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