IHS pointed out that although European government support for the photovoltaic industry continues to decline, conditions in other regions continue to improve, so the global market will continue to grow. In particular, China's active development of green energy will boost global demand. In addition, IHS's long-term outlook for global PV installations remains largely unchanged, with an expected annual growth rate of at least 10% over the next five years and a total installed capacity of over 400 GW by the end of 2018. According to the European Photovoltaic Industry Association (EPIA), the installed capacity of solar power in 2012 was 102 GW.
Industry insiders pointed out that the research report further illustrates that the focus of global solar product demand is shifting from Europe to Asia. European governments are reducing subsidies for renewable energy, while Asia’s spending on solar energy has increased dramatically.
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