PV suppliers, are you listening? New report predicts explosive growth for Caribbean solar energy market
A new NPD Solar Buzz report released this week contained a strong message for PV suppliers worldwide: Demand for solar photovoltaic (PV) energy in the Caribbean will grow 45% annually through 2017.
For investors scoping out the solar market in Trinidad and Tobago, here’s what you need to know:
• Renewable energy policies and incentive programs in Trinidad and Tobago have made PV adoption a highly attractive investment option
• Trinidad and Tobago’s strong political and economic climate gives it a substantial advantage over other Latin American and Caribbean countries named in the report
• PV demand is softening across Europe and there is growing uncertainty about access to markets in the US, India and China. In Trinidad and Tobago, the opposite is true: investors are welcome, and the expected demand is set to grow rapidly through 2017.
• Industry experts recommend taking immediate action. Chris Sunsong, analyst at NPD Solarbuzz says, “Having a successful market entry strategy is now essential before key markets develop in the region and supply chains and purchasing channels are established.”
Get the full report here http://www.solarbuzz.com/news/recent-findings/latin-america-and-caribbean-pv-demand-growing-45-annually-out-2017