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    Solarbuzz - Solar Energy Market Growth - 2011-02-21

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    Solar electric energy demand has grown by an average 30% per annum over the past 20 years. In 2009, the photovoltaic solar industry generated $38. Billion in revenues globally. Forecast scenarios see growth in the world PV market from $46. Billion to $96. Billion in 2014.

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    Solarbuzz - Solar Energy Market Growth - 2011-02-21

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    Solar electric energy demand has grown by an average 30% per annum over the past 20 years. In 2009, the photovoltaic solar industry generated $38. Billion in revenues globally. Forecast scenarios see growth in the world PV market from $46. Billion to $96. Billion in 2014.

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    Solar electric energy demand has grown by an average 30% per annum over the past 20 years. In 2009, the photovoltaic solar industry generated $38. Billion in revenues globally. Forecast scenarios see growth in the world PV market from $46. Billion to $96. Billion in 2014.

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    77 views3 pages

    Solarbuzz - Solar Energy Market Growth - 2011-02-21

    Uploaded by

    davids79
    Solar electric energy demand has grown by an average 30% per annum over the past 20 years. In 2009, the photovoltaic solar industry generated $38. Billion in revenues globally. Forecast scenarios see growth in the world PV market from $46. Billion to $96. Billion in 2014.

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    Solar Energy Market Growth

    Global Market Size

    Solar electric energy demand has grown by an average 30% per annum over the past 20 years against a
    backdrop of rapidly declining costs and prices. This decline in cost has been driven by economies of
    manufacturing scale, manufacturing technology improvements, and the increasing efficiency of solar cells.

    In 2009, the photovoltaic solar industry generated $38.5 billion in revenues globally, which includes the sale of
    solar modules and associated equipment, and the installation of solar systems. Solarbuzz produces various
    forecast scenarios which, depending on the factors, see growth in the world PV market from $46.3 billion to
    $96.8 billion in 2014.

    PV installations grew to 7.3 GW in 2009, up 20% from the prior year. Expected to reach 8.4?13.1 GW in 2010,
    the various forecast scenarios predict demand rising to 15.4?37 GW in 2014, more than five times the size of
    the 2009 market. The worldwide on-grid segment grew by 20% in 2009, and the off-grid market grew 23% in
    2009, faster than on-grid for the first time in 15 years but on a much smaller base.

    Source: Solarbuzz 2010 Marketbuzz [1]

    Regional Market Growth

    The largest on-grid market by far has been Germany, where demand has been stimulated by very attractive
    feed-in tariffs. This is followed by Japan, where grid-connected applications are also stimulated by market
    incentive programs.
    Source: Solarbuzz 2010 Marketbuzz [1]

    Driving Forces of Growth in Country Markets

    Among industrialized countries, the German and Japanese governments have led the way in legislating high
    incentives to stimulate development of their domestic solar markets. The German feed-in tariff model has
    been increasingly used in countries around Europe, including Italy and France. As a result, the industry
    structure has evolved, leading to strong distributor and dealer networks with well-trained installers and good
    customer support capabilities. Government policy is designed to reduce CO2 emissions via solar deployment
    and to create high-tech jobs through the development of a strong national solar industry. In the United States,
    utilities have played a stronger role in market development.

    Overall, regional solar energy demand where the solar energy is connected to the electricity grid is driven by
    the following:

    Incentive programs led by national or state governments: Subsidies allow customers/investors to


    gain a financial return on the PV system by selling solar electricity at preferential rates.
    Enthusiasm of customers for green energy, especially solar
    Local electricity tariffs: High electricity rates encourage alternative sources of energy.
    Sunlight conditions: Solar electricity prices fall as sunlight levels increase.
    Marketing strategies by solar companies
    Delivery infrastructure, which is the number of local suppliers and qualified installers

    In developing countries, markets have benefited from the steady decline in solar PV prices, but they have also
    been stimulated by continued multi-lateral and bi-lateral development aid. This has meant that solar has been
    an enabling technology for developmental programs for education, clean water, and healthcare.

    There is an increasing focus on micro-finance to improve the affordability of solar PV systems, which may be
    economical over their lifetime but have high initial costs. Such credit schemes have been effective at a small
    scale, but a culture of credit does not exist yet in many developing countries. Kenya is notable for its strong
    commercial (un-subsidized) market, where customers opt for low power (10-20W) entry-level modules.

    © 2011 Solarbuzz, a part ofThe NPD Group. All rights reserved.

    Source URL: http://www.solarbuzz.com/node/42


    Links:
    [1] http://www.solarbuzz.com/our-research/reports/marketbuzz

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