By Jason Deign
Present forecasts of PV-and-battery adoption could end up significantly underestimating true adoption levels by not taking into account a massive glut in solar capacity.
Josefin Berg, senior analyst for solar demand at IHS Technology, told Energy Storage Report there are currently “several gigawatts’” worth of new solar panels worldwide that nobody wants to buy because of excess supply.
IHS alerted to the potential for manufacturing overcapacity in the PV market back in June, and has forecast there will be a shakeout among what few manufacturers are still left from previous oversupply and consolidation periods.
For now, however, as EnergyTrend noted: “Prices across the PV supply chain have collapsed to new lows in the second half of 2016 due to plunging demand.”