2015 Solar OutlookDeutsche Bank’s 2015 solar outlook: accelerating investment and cost competitiveness For 2015, Deutsche Bank Markets Research expects an increase in investments and improvement of cost competitiveness in the solar sector We believe the recent volatility in solar stocks, driven largely by oil price weakness, presents an attractive entry point for investors as we expect 2015 to be a year of stable industry pricing and accelerating volume growth. We expect a balanced supply demand outlook as strong demand from the US and improving demand from China/other emerging solar markets offsets any potential demand weakness in the UK/Japan. While weak oil prices could remain an overhang, our work suggests very little impact on solar demand fundamentals and expects several company specific positive catalysts in terms of execution of new/existing yieldcos.