PV suppliers, are you listening? New report predicts explosive growth for Caribbean solar energy market

Posted by Investt

PV Solar Panels Adoption Rate Increasing in Latin AmericaA 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

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