News Headline:South America, Africa and the Middle East are now leading the world in solar capacity additions--they also are leading the capital expenditure segment of PV business out of its slump--reports a Solar Analyst at IHS.
Solar capital spending in emerging economies increased 23% in 2013, and is expected to rise 40% yearly till 2017. The largest occuring in countries found in South America, Africa and the Middle East. Solar installs in developing countries account for 7.9 gigawatts (GW) of the world's total announced capacity for PV materials and products from ingots through modules, with the potential to increase 11GW by 2017. "The overcapacity in PV production has mainly concentrated in the developed solar regions of the United States, European Union and China. But as demand expands in new areas, PV manufacturers are gaining interest in producing their wares in these regions, resulting in new factory openings and boosting local capital spending." said Jon Campos, solar analyst at IHS (reference).
An explanation for this sudden boom of the PV industry in emerging economies may be the current and potential trade conflicts concerning Chinese PV products that drive production to other locations, such as South America, Southeast Asia, and Africa.
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