The US and China together hold close to half of the world’s planned solar projects, according to new analysis.
The global pipeline of PV projects currently stand at 132GW, out of which 10GW are under construction, analysts at IHS found.
In total, the US has 35GW of PV projects in various stages of development while China has a pipeline of 26GW of planned projects, out of which 3.7GW are under construction.
Beyond the major PV markets, Chile stands out with a 9GW pipeline while the UK has seen an increase to 7.2GW.
Referring to the UK, Josefin Berg, Senior Analyst Solar Research at HIS said: “A great share of these projects aim to beat the deadline for utility-scale projects to be completed before the planned end to the ROC [Renewable Obligation Certificate] scheme in April 2015.”
IHS predicts close to 4GW of solar capacity could be installed from the third quarter of this year through to the end of the first quarter of 2015.
“This would nearly double the installed capacity of the UK in just nine months”, Mr Berg added.