Demand for solar panels in Germany, the world’s largest market for the equipment, may hold up until the third quarter, according to the biggest builder of sun-powered plants.
The German government’s plans to cut solar subsidies by as much as 29 percent hasn’t impacted demand as quickly as expected, Bernhard Beck, chief executive officer of Belectric Solarkraftwerke GmbH, said in an interview.
“No one would’ve imagined this but so far the volumes are there,” Beck said. “It’s hard to assess.”
German solar installations may have more than tripled to almost 1,800 megawatts in the first quarter from a year ago, German Deputy Environment Minister Katherina Reiche said last week.
Belectric installed 391 megawatts of photovoltaic capacity globally in 2011, the most of any company, according to California-based market researcher IHS Isuppli.