Solarbuzz: PV installations reached 18.2GW in 2010

Facebook
Twitter
LinkedIn
Reddit
Email

PV demand exceeded many analysts' expectations last year but could also cause slower-than-expected growth over the next few years, should figures released from market research firm Solarbuzz prove accurate. Solarbuzz said that global PV market installations reached a new record of 18.2GW in 2010, a massive 139% increase over 2009. The PV industry generated US$82 billion in global revenues in 2010, up 105% year-on-year, from US$40 billion in 2009.

“The industry has now entered a phase of tightening incentive terms across important European markets. Cuts in unit tariffs will be far more rapid than the industry’s pace of cost reduction,” commented Craig Stevens, president of Solarbuzz. “While some key markets will decline in size as a result over the next two years, the US, Canada, China, and Japan are some of the major countries that still offer growth potential. In addition, the rush to beat mid-year tariff reductions will ensure strong first half 2011 demand performance in Italy and Germany.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

There were five major markets in 2010, according to Solarbuzz, which included Germany, Italy, Czech Republic, Japan, and the United States, which combined accounted for 80% of global demand.

European countries represented 14.7GW, or 81% of world demand in 2010. The top three countries in Europe were Germany, Italy, and the Czech Republic, which collectively totalled 12.9 GW.

Emerging markets included Japan and U.S, which grew by 101% and 96%, respectively. According to Solarbuzz, over 100 countries installed PV to a greater or less extent last year.

However, by 2015, Solarbuzz projects the European market share to fall to between 45% and 54%, as North America and several Asian markets grow rapidly. The U.S. is projected to become the fastest growing market.

Siolarbuzz is also projecting that factory gate module prices will drop between 37% and 50% from 2010 levels by 2015.

“Planned manufacturing capacity expansions will ensure the industry has adequate cell supplies over 2011 and 2012. However, the potential for excess supply taken together with already planned subsidy cuts will make both years challenging for the industry,” added Stevens.

Solarbuzz noted that an excess of production over market demand caused crystalline silicon factory gate module prices to drop 14% in 2010, significantly less than the 38% reduction of the previous year.

Read Next

November 14, 2024
China’s CHN Energy has grid connected the Mengxi Blue Ocean PV Power Plant Project, at 3GW the country’s largest single-site PV power plant.
November 14, 2024
The sixth PPE2 tender for ground-mounted solar ended up slightly oversubscribed as the French government tendered for 925MW of PV capacity.
November 14, 2024
In its Q1-3 2024 financial results, SMA Solar said it will cut up to 1,100 jobs and reduce costs by between €150 and €200 million by the end of 2025.
November 14, 2024
The Northern Territory government in Australia has proposed developing an AU$400 million (US$259 million) renewable energy hub featuring six solar PV power plants in the region.
November 14, 2024
Australia’s Pacific Blue, a renewable energy generator and retailer, has been granted council approval for a 300MW solar-plus-storage expansion in North Queensland.
November 14, 2024
State-owned China Energy Investment Corporation (CHN Energy) has completed a 1GW floating solar PV facility in the Shandong Province of China.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 19, 2024
Philadelphia, USA
Solar Media Events
November 20, 2024
Zhuhai, China
Solar Media Events
November 21, 2024
London, UK
Solar Media Events
November 26, 2024
Málaga, Spain
Solar Media Events
November 26, 2024
Warsaw, Poland