Global solar installations will rise by to 2020 to 92 GW yearly, according to a new report from Apricum, compared to 42 GW annually in 2014.
The Berlin-based cleantech consulting firm said most of the 50 GW in annual increases from 2014 until 2020 will come from China, the US, and India, with 36 GW combined.
The Middle East/North Africa/Africa (MENA) region will represent 6 GW, the rest of Asia 5.6 GW, the non-US Americas 4.1 GW, and Europe 3.5 GW.
However, Japan expects to see declines yearly (-5.2 GW) as it looks to slow its hot growth.
Apricum also notes cumulative installations will reach 604 GW, from 178 GW six years earlier.
In regards to cumulative installations, China will lead with 180 GW, followed by the US (83 GW), Japan (57 GW), Germany (46 GW), and India (41 GW). Concerns over air pollution and climate change will help China with its steady growth.
Meanwhile, the US will see continued growth as more regions hit socket parity and grid parity. Apricum predicts a good 2015, followed by a drop in utility-scale installations as the federal tax credit drops from 30% to 10%, due in 2017. However, strong rooftop demand, thanks to declining solar prices will continue to bolster US markets, Apricum suggests. Recent clean power legislation and Hillary Clinton’s plan of reaching 140 GW by 2020 may also have positive effects.