Global Solar PV Demand Forecast To Reach 20.4 GW in 2011; Growth Rate Drops to 25%

Global photovoltaic demand was 4.0 GW in Q3’10 up 107% on one year earlier, according to Solarbuzz®, an international solar energy market research and consulting company. Total industry revenues for the quarter were $17.9 billion, up 74% on the same quarter last year. According to the Solarbuzz Quarterly report, 10.6 GW of photovoltaics were installed in the first nine months of 2010, charting a course for a record year. As a result, Solarbuzz has increased its 2010 forecast to 16.3 GW for 2010, an outcome that would represent 117% growth on 2009. In its latest Solarbuzz Quarterly report, Solarbuzz also reported Chinese manufacturers accounted for 51% of global shipments in Q3’10, up from 47% in the same quarter one year earlier. Chinese and Taiwanese manufacturers took 8 out of the top 12 cell manufacturer positions. China-based JA Solar captured the lead in solar cell shipments with an 8% market share in Q3’10, with Suntech Power and First Solar taking second and third positions, respectively. Looking ahead, Solarbuzz forecasts a global PV market of 20.4 GW in 2011, as policy changes in Germany and Czech Republic take effect at the beginning of 2011. These will dramatically slow the industry’s growth rate next year. “The large price reductions of 2009 created the platform for spectacular growth in 2010,” noted Craig Stevens, President of Solarbuzz. “However, manufacturers plan strong capacity and shipment growth in 2011. This will encourage prices to drop, but they will need to fall further than incentive tariffs in key world markets to maintain strong growth next year.” As a result of excess production, factory gate module prices are projected to drop by more than 15% over the year to fourth quarter 2011, led down by low cost Asian producers. Weak first quarter 2011 demand in Germany will be the primary cause of global module inventory build of over 3 GW in the PV chain. Further details about: Solarbuzz Quarterly

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Global Solar PV Demand Forecast To Reach 20.4 GW in 2011; Growth Rate Drops to 25%

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