GTM Research publishes 2009 PV cell and panel production analysis

According to Greentech Media Research, 2009 was the most challenging year to date for the PV industry. Although, global PV cell production grew by 51% from 7.1GW in 2008 to 10.7GW in 2009 and PV panel production increased 41% to 8.9GW, many of the solar panels were produced in Germany during the third and fourth quarters of 2009.

“On one hand, you had severe oversupply and drastic price drops causing large losses, major layoffs, and consolidation all across the value chain. On the other hand, it was yet another record-breaking year in manufacturing thanks to Germany’s late surge: whereas in January, top manufacturers were reportedly running at factory utilizations of less than 20%, October through December saw the same companies’ supplies being completely sold out. To call it a volatile year would be an understatement,” noted GTM Research senior analyst Shyam Mehta.

China and Taiwan produced 50% of the cells last year, a drastic change from five years prior where European and Japanese firms combined to make up over three-fourths of the market. Crystalline silicon continues to have a dominating hand in the PV world, with a cell and panel production share of 81% and 78% respectively.