Worldwide solar photovoltaic (PV) installations reached a record
high of 6.43 gigawatt (GW) in 2009-a 6% Y/Y growth, according to
the latest Marketbuzz 2010 Report from
Solarbuzz, an
international solar energy market research and consulting company,
and a division of The NPD Group. In addition, the company reported
that the PV industry generated $38 billion in global revenues in
2009, while successfully raising more than $13.5 billion in equity
and debt, up 8% on the prior year.
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| Major PV Markets by Country in 2009, Source:
Solarbuzz Marketbuzz 2010 Report |
According to the company's Marketbuzz 2010 Report, European
countries accounted for 4.75 GW, or 74% of world demand in 2009.
The top three countries in Europe were Germany, Italy and Czech
Republic, which collectively accounted for 4.07 GW. All three
countries experienced soaring demand with Italy becoming the second
largest market in the world. In contrast, Spanish demand in 2009
collapsed to just 4% of its prior year level. The third largest
market in the world was the US, which grew 36% to 485 MW. Following
closely behind was a rejuvenated Japan, ranked fourth and growing
109% Y/Y.
Worldwide solar cell production reached a consolidated figure of
9.34 GW in 2009, up from 6.85 GW a year earlier, with thin film
production accounting for 18% of that total. China and Taiwan
production continued to build share and now accounts for 49% of
global cell production. Of total European demand, net cell imports
accounted for 74% of the total.
The top seven polysilicon manufacturers had 114,500 tons per
annum of capacity in 2009, up 92% Y/Y, while the top eight wafer
manufacturers accounted for 32.9% of global wafer capacity in
2009.
Solar cell production exceeding the market demand caused the
weighted crystalline silicon module price average for 2009 to crash
38% from the prior year level. This reduction in crystalline
silicon prices also had the effect of eroding their percentage
premium to thin film factory gate pricing.
Looking forward, the industry will return to high growth in 2010
and over the next five years. Even in the slowest growth scenario,
the global market will be 2.5 times its current size by 2014. Using
the fastest growth forecast, annual industry revenues would
approach $100 billion by 2014.
"Industry performance in 2009 was remarkable in that it managed
to more than fully replace the 2.3 GW demand gap caused by the
change in policy in Spain," remarked Craig Stevens, President of
Solarbuzz. "Looking forward, the industry will see a return to high
growth, but in a low margin environment. Our analysis demonstrates
that a wide range of start-up markets will help offset a slowdown
in German demand in the second half of 2010."
After providing a comprehensive look back at 2009 industry
results, the report devotes one-third of its content to the
2010-2014 forecast, including a thorough preview of market
developments, policies, prices and production requirements that are
essential to shape corporate strategies over this period.
Manufacturing costs, gross margins and capital expenditure profiles
are also addressed. In total, the analysis in the new Marketbuzz
2010 Report references 112 countries across the world in 2009.
Further details about the report's Content Outline and
Figures/Tables are also available. For more information on the
report, contact Charles Camaroto at 1.888.436.7673 or
1.516.625.2452, email contact(at)displaysearch(dot)com, or contact
your contact your regional DisplaySearch office in China, Japan,
Korea or Taiwan.
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