Global PV Industry Gaining Significant Momentum

August 16, 2010 8:39 am

The political framework of a particular country largely affects the PV industry development and structure. Support schemes by authorities and their revision or removal define the overall industry growth.
 
The dependence on fossil fuels and the associated volatility of their international prices, coupled with increasing concerns over the greenhouse gas emissions worldwide, has led to the evolution of the concept of renewable energy over the past few years. The industry has qualified as the most feasible solutions and has been increasingly gaining considerable attention among industry players all around the world. With growing demand for clean energy sources, the manufacturing and deployment of solar PV cells and photovoltaic arrays have expanded dramatically in the recent years, resulting in augmented market competition and abolishment of monopoly.
 
According to a latest research report published by RNCOS, “Global Photovoltaic Market Forecast to 2013”, the global PV industry has been witnessing robust growth for the past few years on the back of favorable government policies and rising public investment. Depleting conventional sources, highly volatile oil prices and environmental concern are some of the major factors which highlighted the need for renewable sources like Photovoltaic. Countries around the world are adopting various measures to increase PV installed capacity so that the dependence on conventional energy sources can be minimized. In 2009, the annual global PV installed capacity registered growth of 14.3% year-on-year.
 
The political framework of a particular country largely affects the PV industry development and structure. Support schemes by authorities and their revision or removal define the overall industry growth. The report analyzes governments’ perspective while forecasting the future growth and our industry experts have studied major factors like R&D spending, laws and regulations that support the industry.
 
“Global Photovoltaic Market Forecast to 2013” provides a detailed analysis of the global PV industry, taking into account various factors like cost analysis and challenges. The report includes photovoltaic industry performance in the past. The report also discusses global PV power plants, their production capacity and output levels.
 
Moreover, the report has analyzed the key industry trends which are expected to boost industry performance in the future. The report contains information about the country wise PV industry, with focus on factors like installed capacity, break-up of installed capacity, shipment levels, etc. In addition, the report includes information on supporting feed-in tariff structures at the country level along with global research & developments.
 
The report also provides industry forecast on a country basis, taking into account growth drivers and various factors for expansion. Overall, the report broadly identifies and analyzes the global PV market, industry challenges and future growth opportunities. It effectively covers all the areas related to the PV industry and clients will find it an impressive route to take investment decision.
 
The research revealed that the growth in global PV industry has been triggered by favorable government policies and billions of dollars worth of investment made in European countries, followed by Japan and the US. As a result, Europe captured close to 80% of total annual installed PV capacity in 2009, with Germany and Spain leading from the front.
 
The solar cell manufacturing is gaining significant momentum on the back of surging demand of PV systems installations around the World. Apart from the developments in the developed countries, some fast growing Asian economies have also shown notable improvements in overall PV industry progress. For example, China produced around 2 GW of solar cells during 2008 and a further growth, at a CAGR of above 50%, is expected to be seen in the next few years. (Courtesy: RNCOS)