According to this report in CNET, Green Tech today, while Germany, Italy, and Spain may be the solar powerhouses of today, but in five years, a new set of countries led by India will emerge as leading consumers of solar technology, according to an analyst.
Lux Research solar analyst Ted Sullivan yesterday predicted that India, South Africa, Russia, Brazil, Mexico, and the U.K. are among the countries best-suited to create the market demand for gigawatts worth of solar panels as established countries cool off.
For solar manufacturers, which are cranking out higher and higher volumes of solar panels, the question of which country can become the “next Germany” and consume hundreds of megawatts of solar is an important question for the industry, said Sullivan during a presentation at the Lux Executive Summit that took place in Boston.
In India, solar will likely need to be coupled with storage for off-grid applications to take hold, he added.
But even with the potential of some developing markets, Sullivan said it will take years for many of them to materialize. In five years, he predicted one-third of the 32 gigawatts of installed capacity will be in countries which have little solar power today.