Solar power had another record year in 2014 with 40 GW being connected worldwide beating the previous year's record of 38.4 GW, according to the Global Market Outlook for Solar Power 2015-2019, published by SolarPower Europe, the new European Photovoltaic Industry Association (EPIA) in June.

Commenting on the report, SolarPower Europe CEO James Watson said that it revealed that the global solar sector had reached a cumulative capacity of 178 gigawatts (GW) in 2014, multiplying the installed capacity by a factor of 100 in only 14 years of development.

China, Japan and the USA led the world's solar market in 2014, while Europe installed 7 GW, with the UK leading the way - contributing 2.4 GW in 2014. "The success of the UK, set to be the largest European market again in 2015, reinforces the evidence that solar power is a versatile and cost-efficient energy source in any climate," Watson said, adding that solar power could grow by 80% in Europe by 2020.

SolarPower Europe's Executive Advisor Michael Schmela concurred. She said that if the current momentum continued and the right frameworks were put in place, then over half a terawatt of solar power capacity might be installed globally by 2020. The high-support scenario in the Global Market Outlook foresees up to 540 GW of total solar capacity by 2020, but even the low-support scenario estimates a total solar volume of 396 GW, more than double the current level.

To read the Global Market Outlook:
http://files.ctctcdn.com/15d8d5a7001/3f338a6a-eece-4303-b8c4-c007181a59ad.pdf

For more information:
http://www.solarpowereurope.org/media/press-releases/