The global solar market will rise 22 percent to 33.4 gigawatts in 2013, with gains in China, the U.S. and India more than offsetting declines in Germany and Italy, Deutsche Bank predicted today in a note to investors.
The Chinese market, the second biggest in 2012, will more than double to 10 gigawatts this year from 4 gigawatts last year, Deutsche said. The Indian market will more than triple to 4 gigawatts and the U.S. will rise 29 percent to 4.5 gigawatts, the bank's analysts, led by Vishal Shah, predicted in the note.
Those gains will help offset declines in European markets, led by Germany and Italy, where demand will be cut in half, according to the bank. Those two countries were the biggest and third-largest markets in 2012, it said.