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MEA PV demand to grow 50% in 2014

MEA PV demand to grow 50% in 2014

May 14, 2014

According to findings in the latest NPD Solarbuzz Emerging PV Markets Report: Middle East and Africa released in late April, Solar photovoltaic (PV) demand from the Middle East and Africa (MEA) region is set to grow 50% year-over-year in 2014. Between 2014 and 2018, annual PV demand is set to almost triple as the MEA region becomes a key market for the global industry.

Says Susanne von Aichberger, analyst at NPD Solarbuzz: “Solar PV represents an ideal renewable energy type across much of the Middle East and Africa.” This is borne out by the report indicating that by 2018, annual PV demand in the MEA region is expected to reach 4.4 GW, with an upside potential of 10 GW.

PV demand from the MEA region in 2013 grew by 670% compared to 2012 when the region added approximately 140 MW. The region had previously had a substantial share of small off-grid PV systems but the on-grid segment became the main factor driving growth to more than 1 GW in 2013, with 1.6 GW forecast for 2014. In 2018, ground-mount systems will account for over 70% of the market.

Until now, PV growth in the MEA region has mainly been driven by a small number of economically prosperous countries, essentially South Africa and Israel. Along with Saudi Arabia, these three countries are expected to offer stable demand levels within the MEA region over the next few years.

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