Dec 22 2010
Solarbuzz, a known market research company that concentrates on solar energy and solar photovoltaic industries, observed in its current report that globally the demand for photovoltaic products has reached 4.0 GW in the third quarter of 2010, an increase of 107% when compared to the same period last year.
It indicates that the industry has received $17.9 billion as revenue in the period thus witnessing 74% growth when compared to last year.
The report mentions that in the first nine months of 2010, 10.6 GW worth of PV installations were carried out and it anticipates that the year 2010 will witness a total of 16.3 GW solar installations and a growth of 117% when compared to 2009. According to the report, Chinese producers were responsible for nearly 51% of worldwide shipments in the third quarter while it was only 47% during last year. It mentions that all over the world Taiwanese and Chinese solar manufacturers occupy the first 8 positions out of the total 12 positions. JA Solar, a Chinese company with a total market share of 8% in the third quarter, occupies the top slot succeeded by Suntech Power and First Solar for the second and third positions respectively. The report estimates that all over the world the PV market will achieve a growth of 4 GW in 2011 and it cautions that the anticipated policy changes in the Czech Republic and Germany will significantly dilute the pace of growth in the next year.
Craig Stevens, Solarbuzz’s President, said that the major price reductions that have taken place in 2009 fueled the growth of the market in 2010. He added that the producers are anticipated to improve their production capability and major shipments in 2011, which will influence the reduction in prices, and he clarified that only when it goes below the incentive stimulated tariffs in important world markets it will sustain the robust growth in the ensuing year.