Dive Brief:
- Solar manufacturers are recovering from two-year depressed period. The benchmark BI Global Large Solar Energy Index, which fell 87% from Feb. 2011 to Nov. 2012, has gained 55% in the last year.
- The solar industry went through a slump when 10 biggest solar panel makers increased production capacity by 19% from 2010 to 2012 just as demand for solar panels weakened.
- Grid-scale and distributed solar installations are expected to increase by 40% this year, compared to a 6.1% last year.
Dive Insight:
“The worst is probably behind us. We’ve just gone through a big trough in solar supply,” said Jenny Chase, lead solar analyst at Bloomberg New Energy Finance. Chase expects the industry to keep the upturn going in 2014.