Global Solar PV Market will Show Significant Growth up to 2020

Thursday 10 January 2013, Amsterdam

Solar PV power is one of the fastest growing energy sources in the world. The reason for this rapid growth is the boom in the proliferation of renewable sources. The need for energy security, stability and energy independence is driving governments in many countries to promote and develop renewable power sources, including solar PV. The global solar PV market witnessed tremendous growth

in 2011, as annual installations surged from 16 Gigawatts (GW) in 2010 to 29 GW. The global cumulative solar PV installed capacity increased significantly from 7.3 GW in 2006 to 71.3 GW in 2011, at a CAGR of 57.3%. During the 2012-2020 forecast period, installations of solar Photovoltaic (PV) will experience steady growth globally, and the cumulative installed capacity is expected to reach 329.8 GW in 2020, growing at a CAGR of 18.5% from 2011 to 2020.

Italy and Germany were the Top Solar PV Markets in 2011
Italy and Germany dominated the solar PV market in 2011 in terms of annual capacity additions. The two countries installed over 16 GW of solar PV capacity, contributing to more than half of the world’s annual capacity additions. The US also added significant solar PV capacity, forming 6.3% of global capacity additions. China, France, Japan and Australia followed closely with 5.7%, 5.5%, 4.4% and 2.5%, respectively. Australia was one of the top players in the solar PV market in 2011, although there has not been a single utility-scale solar PV installation yet in the country, as the main focus has been on commercial and residential grid-connected installations.

The new report "Solar Photovoltaic (PV), 2012 - Global Market Size, Average Installation Price, Market Share, Regulations and Key Country Analysis to 2020" provides a clear understanding and deep insights into the global solar PV market. It explains the key drivers and challenges impacting the market, and also provides data regarding historic (2006-2011) and forecast (2012-2020) growth of the solar PV market, globally and in key countries. The country analysis sections include historic and forecast capacity and power generation; segmentation based on end user application; average installation price and market size; major module manufacturers and their market shares in the country; export and import of solar modules; and Levelized cost of energy (LCOE).