The $77 billion solar-energy industry is forecast to expand the most since 2011, as China becomes the biggest market for the first time and drives annual global installations to a record.
New generation capacity will rise about 14 percent this year to 34.1 gigawatts, equal to about eight atomic reactors, according to the average estimate of seven analysts surveyed by Bloomberg. That would beat the 4.4 percent growth in 2012, when demand shrank in Italy and France after subsidies were cut.
China, after building scores of factories that helped cut panel prices 20 percent in the past year, is poised to become the biggest consumer of the devices after doubling its 2013 target for new projects in January. Tumbling prices are benefiting installers including Solarcity Corp. and SunPower Corp of California while hurting manufacturers such as LDK Solar Co. of China and Norway’s Renewable Energy Corp.
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