Global Information Inc. would like to present a new market research report, "Solar Photovoltaic (PV) Market, Update 2017 - Global Market Size, Average Price, Module Market Share, and Key Country Analysis to 2025" by GlobalData.
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 Compound Annual Growth Rate (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 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 worlds 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 following chart shows the solar PV capacity addition in different countries as percentages of global solar PV capacity addition.
Thin-film technology gained prominence in 2006 when the cost of silicon increased due to increased demand and the use of thin-film modules made more economic sense as long as space wasnt a constraint, in spite of the inherently lower efficiency of thin-film modules. However, with silicon prices having fallen again and the prices of higher efficiency crystalline silicon modules now declining substantially, global demand has shifted back to crystalline technology. This has resulted in a number of thin-film solar module manufacturers incurring losses and some of them have filed for bankruptcy in 2010 and 2011.
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