WORLD PV SOLAR UP 40%

World Solar Photovoltaic Market Grew to 27.4 Gigawatts in 2011, Up 40% Y/Y; Incentive Cutbacks in Europe, Falling Prices, Create Major Corporate Challenges in 2012
March 19, 2012 (Solarbuzz)

"Worldwide solar photovoltaic (PV) market installations reached a record high of 27.4 gigawatts (GW) in 2011, up 40% Y/Y, according to the annual [NPD Solarbuzz] PV market report…

"Overall market growth in 2011 was boosted by strong second half demand ahead of further deep cuts in solar incentives. This followed a period of over-production in the first half that triggered the sustained price decline through the PV chain that came to characterize 2011. The dominance of Chinese manufacturers in crystalline silicon wafers, cells and modules grew, the share of thin film declined, and demand in Asian markets grew rapidly."

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"The PV industry generated $93 billion in global revenues in 2011, up 12% Y/Y…[T]he top five PV markets were Germany, Italy, China, the United States, and France—74% of global demand in 2011. China soared 470% Y/Y, rising from to third place from seventh in 2010…European countries accounted for 18.7 GW, or 68% of world demand in 2011, down from 82% in 2010…Germany, Italy and France collectively accounted for 82% of the European market.

"Worldwide solar cell production reached 29.5 GW in 2011, up from 23.0 GW a year earlier, with thin film production accounting for 11% of total production. Production from China and Taiwan accounted for 74% of global cell production, up from 63% in the prior year…Over the next five years, factory-gate module prices are projected to drop between 43% and 53% from 2011 levels…"