Year 2012 to See Less Consumption of Electricity

IMS, the market research analyst firm forecasts an increase in PV (Photovoltaic) installations which will eventually help lessen the dependency and the usage of electricity and other fuels.

According to the latest reports of IMS, Global solar PV installations (not grids) will go up at least by 3.5 percent and up to 21 percent in 2012 despite of incentive cuts. But, Europe’s share of installations seems falling from 69 percent to 50 percent, the firm reveals.

IMS Research tracks Global solar PV installations in more than 60 countries. Based on the database, the research firm says that the number of countries installing PV have increased from just 17 in 2011 to about 23 this year.

Officials of IMS Research say that the geographic diversification is the pivotal key-factor in the increase in the installations of global PV this year as the market has become less dependent on just one or two markets, Germany still being the largest and most important. The officials also add that weakening of one single country’s policies will be beneficial for the market. The industry will become more stable and stronger in the long term as a result.

An increasing number of countries installing more and more PVs will eventually consume lesser amounts of electricity and other fuels, the prestigious research firm IMS reveals.

Image Credit:Creative Commons/Alexander P Kapp

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