In 2014, Asia was the fastest growing region, with more than 60% of global solar PV installations.China and Japan alone accounted for 20 GW or half of worldwide deployment. Europe continued to decline and installed 7 GW or 18% of the world PV market, three times less than in the record-year of 2011, when 22 GW had been installed. For the first time, North and South America combined accounted for at least as much as Europe, about 7.1 GW or about 18% of global total. This is due to the strong growth in the United States, supported by Canada, Chile and Mexico
In terms of cumulative capacity, Europe is still the most developed region with 88 GW or half of the global total of 178 GW. Solar PV now covers 3.5% and 7% of European electricity demand and peak electricity demand, respectively.[3]:6 The Asia-Pacific region (APAC) which includes countries such as Japan, India and Australia, follows second and accounts for about 20% percent of worldwide capacity. In third position ranks China with 16%, followed by the Americas with about 12%. Cumulative capacity in the MEA (Middle East and Africa) region and ROW (rest of the world) accounted for only about 3.3% of the global total. A great untapped potential remains for many of these countries, especially in the Sunbelt.
In 2014, Asia was the fastest growing region, with more than 60% of global solar PV installations.China and Japan alone accounted for 20 GW or half of worldwide deployment. Europe continued to decline and installed 7 GW or 18% of the world PV market, three times less than in the record-year of 2011, when 22 GW had been installed. For the first time, North and South America combined accounted for at least as much as Europe, about 7.1 GW or about 18% of global total. This is due to the strong growth in the United States, supported by Canada, Chile and MexicoIn terms of cumulative capacity, Europe is still the most developed region with 88 GW or half of the global total of 178 GW. Solar PV now covers 3.5% and 7% of European electricity demand and peak electricity demand, respectively.[3]:6 The Asia-Pacific region (APAC) which includes countries such as Japan, India and Australia, follows second and accounts for about 20% percent of worldwide capacity. In third position ranks China with 16%, followed by the Americas with about 12%. Cumulative capacity in the MEA (Middle East and Africa) region and ROW (rest of the world) accounted for only about 3.3% of the global total. A great untapped potential remains for many of these countries, especially in the Sunbelt.
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