The global solar market expanded slightly in 2014 with about 40 GW of new capacity installed, up 8% from 37 GW in 2013, according to information presented at the 10th annual Market Workshop of the European Photovoltaic Industry Association (EPIA), which took place at the end of March.

China, Japan and the USA continued to lead the world's solar market for the second year in a row. While globally the solar market increased in 2014, new installations on the European market witnessed a decline - falling by 36% to about 7 GW from 11 GW in 2013. The UK market was the only bright spot, increasing installations over 50% to 2.3 GW from 1.5 GW a year earlier.

"It's great to see a thriving solar market in the UK, as it proves solar energy's versatility to be a success in a country famous for its 'mild' climate," EPIA CEO James Watson said in a statement.

However, Watson expressed a certain amount of bewilderment about the overall decline in Europe. "At a time when solar power has lower cost than retail and often even commercial electricity, it is hard to understand why governments are not pushing much harder to tap the technology's potential as the European Union is looking for sustainable and secure energy supply," he said.

EPIA's installation numbers presented at the market workshop are the initial results of the organisation's annual survey on global solar markets. The final results, as well as a forecast for 2015, will be published in June.

For more information:
http://www.epia.org/news/press-releases/