The World PV Market

The photovoltaic world market grew again by more than 40% in 2006 to 2,520 MW.

Germany was the largest single market with 1,153 MW followed by Japan with 286.6 MW and the US with 140 MW. The Photovoltaic Energy Barometer reported that with a cumulative installed PV system capacity of 3.4 GW Europe has exceeded the 2010 White Paper Target of 3,000 MW in 2006.

The rising number of market implementation programmes world-wide, as well as the rising energy prices and the pressure to stabilise the climate will continue to keep the demand for solar systems high. In the long-term, growth rates for photovoltaics will continue to be high, even if the economic frame conditions can lead to a short-term slow-down. PV system costs are still decreasing according to the learning curve and energy prices are rising at the same time. Therefore, the future for PV looks bright.

Evolution of the cumulative solar electrical capacities until 2030

(Sources: Japanese, US EPIA Roadmaps and EREC 2040 scenarios)

According to investment analysts and industry prognoses, solar energy will continue to grow at high rates in the coming years. The projections above show that there will be huge opportunities for photovoltaics in the future.

China remains more of a PV producer than a consumer.  China is considered to have a significant amount of potential in the PV market; however, it is likely waiting for PV prices to decline.  If prices fall dramatically, China will grow very fast.

In 2007, there were 20MW of installations, and no growth is expected in 2008.

National targets set for PV capacity are for 65MW in 2004, 70MW in 2005, 75MW in 2006, 100MW in 2007, 120MW in 2008, 300MW in 2010, and 1800MW in 2020.

There are huge PV production capacities in China, which up to now have been limited by the shortage of silicon.  

Production capacities were 388MW for cells and 1,250MW for modules in 2005, 1,221MW and 2,850MW in 2006, and 2.5GW and 4.5GW in 2007, respectively.

(Source: Lazard Capital Markets LLC)