+ 23.08.2010 + Total Solar Installations to Exceed 100 GW In Next 5 Years.

Cumulative PV installations will top 120 GW by the end of 2014 according to IMS Research’s recently launched “Global PV Demand Database”. This new report also revealed the following key findings:

• Annual PV installations will grow steadily at a CAGR of more than 20% between 2011 and 2014. In these four years, some 80 GW of new PV capacity will be added globally. Growth rates are predicted to slow over the next four years (compared to the huge 95% growth rate forecast for 2010)

• EMEA’s share of global PV installations will fall from 79% in 2009 to 48% in 2014 as major European markets stagnate and Asian and North American market growth accelerates. Despite the introduction of several new FiTs and emerging European PV markets, EMEA’s PV market is predicted to remain dominated by just three countries which will account for more than 60% of new installations in 2014.

• Asia’s PV market will grow at a CAGR of 45% over the next five years, installing around 10 GW of new capacity in 2014. Strong growth is predicted for both Japan and China through current and future FiT schemes and public tenders of large-scale PV plants.

• By 2014, China will be the world’s largest PV market, installing more than both USA and Germany (the second and third largest markets). China will become a dominant force in both the supply of PV components and demand for PV systems, with utility-scale plants leading the country’s PV market development.

• By 2015, there will be at least 25 countries installing more than 100 MW annually. The UK will be one of the fastest growing markets globally (in % terms) with more than 1 GW of new PV capacity added over the next five years.

According to the report author and PV Research Director Ash Sharma, “The PV market remains highly volatile and cyclical in nature. Market maturity is still some years away and although investment in the industry presents large risks, there are also major potential rewards to be reaped as the long-term outlook is very positive with over 100 GW of new PV capacity being added in the next five years”.

IMS Research’s PV Demand Database is compiled based on its coverage of the entire PV supply chain, from polysilicon down to system integrators using its team of 7 PV analysts and provides installation data for more than 50 countries with historical and forecast data. Analysis of key countries by system type and installation size/type is also included and reveals some interesting results. If you would like an interview with an expert in this area, please contact Ash Sharma, Research Director of Power and Energy Group, at Ash.Sharma@IMSResearch.com or +44 1933 402255.

IMS Research 2010