The USA is emerging out as one of the leading countries in the field of a solar energy market. The solar PV capacity of USA has reached to 21.3 gigawatts in the first quarter of 2015, which is primarily driven by the utility-based solar market (Please read "Top 10 solar powered countries"). The USA has installed around 6.2 gigawatts of solar PV systems in 2014, a growth of around 30% with respect to the previous year 2013. The year 2014 has witnessed the highest number of solar PV installations in a year.
China is the 4th largest by area and the 1st in terms of population, in the world. The China's growth is attributed to the strong reforms in its economic policies that have made it to emerge out as a strong contender within a span of 30 to 35 years. China is the largest exporter and one of the largest economies in the world. You can find the Chinese products in most of the the countries of the world.
Germany has remained the top solar PV installer in the world for last so many years. It has reached to 38.7 GW of the installed capacity by the end of May 2015 running ahead of China, Japan and United States of America. Germany has installed around 1.5 million solar PV systems across the country including small solar roofs, commercial solar systems and large scale solar parks. These systems together have contributed more than 6% of the total electricity consumed by the Germans in 2014. This shows the pace and aggression in shifting the energy portfolio of the country from fossils fuels to the renewable energy.
The solar PV technology is experiencing a fast technological development for last few years. Also, few years back no solar company was able to reach 1GW mark, but in 2014 all the top 10 companies are above 1 GW of panel shipments. These top 10 suppliers are able to ship more than 24 GW of the solar panels in 2014, catering around 47% of the total demand in the world. It is quite interesting to note that 7 out of 10 manufacturers are from China, 2 are from Japan and one is from USA. China is the largest global market in the world with largest domestic solar modules demand.
India is a vast country with huge population, where most of the population lives in rural areas with many un-electrified villages and others facing frequent and prolonged power failures on regular basis. The high average solar irradiance of \(5 KWhr/m^2/day\) to \(5.5 KWhr/m^2/day\) is offering a huge opportunity for solar energy sector to flourish and eradicate the acute problem of power shortage of India.
The global solar photovoltaic capacity has grown from around 5GW in 2005 to nearly 140 GW by the end of 2013. The main reasons for the rapid growth in the solar power installed capacity worldwide are the government’s policies promoting solar power, steep decline in the prices of the solar panels and an urgent need to shift focus from fossils fuels to the renewable energy.
India is country with around 300 sunny days in a year with average solar insolation levels ranges from 4 kWh/m2/day to 7 Kwh/m2/day (Please read The solar insolation levels of top 5 states (solar PV installed capacity wise) of India). Solar power is considered the best option for fulfilling our energy requirements.