Global Installed Solar PV Module
Capacity will Grow until 2020 but with Small Annual Additions
Solar module installations witnessed
immense growth during the 2006–2013 period, with an average year-on-year growth
rate of more than 50% from 2008 to 2013. Annual installations increased from
1.43 Gigawatts (GW) in 2006 to 37.70 GW in 2013 with increasing economies of
scale, emerging technologies, and policy-based governmental and institutional
support for the industry. However, the growth in 2012 was much lower than the
growth in the preceding years; for the industry started to adjust away from the
initial spur and support from the governments of some key geographies for the
industry was reduced or eliminated. In 2012, annual installation totaled 28.53
GW, compared with the 30.83 GW installed in 2011.
Global annual installations increased
considerably to 37.70 GW in 2013, due to a rise in installations in China,
Japan, the US and India. From 2014 to 2020, average annual additions of around
40 GW is expected.
China
Continues to be Largest Producer of Solar PV Modules
In 2013, 70.9% of the crystalline
modules produced globally were from China. Being a manufacturing hub with
favorable conditions for the manufacturing industry, China has continued for
the seventh consecutive year being the world’s largest solar module
manufacturer. In 2013, 26.46 GW’s worth of modules was produced in China. With
domestically available polysilicon, a favorable regulatory environment, and
easily available inexpensive labor force, the China-based companies GCL Solar
Energy Technology, Yingli Green Energy, LDK Solar, Trina Solar and Jinko Solar
have been leading crystalline solar module production, with annual production
capacities of over 1,000 Megawatts (MW) each.
Japan is a distant second to China in
the solar Photovoltaic (PV) market with a 9% share of global production,
manufacturing 3.72 GW of modules in 2013. Japan has continued leading thin-film
module production for the third consecutive year. It accounted for 28.9% of
global thin-film module production in 2013. South Korea and Taiwan, which are
focusing on streamlining their semiconductor manufacturing industry, were the
third and fourth largest solar module manufacturers in 2013. The US and Germany
followed, with a 2.4% and 2.3% share, respectively.
Supply-Demand Imbalance may Cause Either
Oversupply, Harming Module Manufacturers, or Undersupply, Affecting Project
Proponents
In the initial years of the solar power
boom of 2000 to 2005, the demand for modules increased sharply, leading to a
hike in silicon prices and a subsequent hike in crystalline module prices. This
affected the financial viability of solar power generation in several countries
to the extent that the adoption of less efficient thin-film modules proved to
be more profitable with the then-existing tariffs and incentives. However, to
cater to this increased demand, the polysilicon industry and the crystalline
module industry moved toward a mass production regime and increased production
capacity far beyond the demand that arose in the subsequent years. This led to
an oversupply and a sharp fall in prices, which in turn led to several manufacturers
of crystalline silicon and thin-film modules incurring losses.
In 2013, the global annual module
manufacturing capacity was over 55 GW, while the demand in 2012 was 36 GW,
rendering close to half of the installed production capacity dormant. This caused
losses and insolvency for several companies. It is clear that the module market
is highly competitive, and, to survive, a manufacturer has to consistently
deliver products with the optimal balance of efficiency and price.
Spanning
over 201 pages, “Solar PV Module Value
Chain - Market Size, Average Price, Market Share and Key Country Analysis to
2020” report covering the Introduction, Solar PV Modules Market, Global,
Solar PV Module Market, Germany, Solar PV Module Market, US, Solar PV Module
Market, Italy, Solar PV Module Market, China, Solar PV Module Market, Japan,
Solar PV Module Market, South Korea, Solar PV Module Market, Taiwan, Solar PV
Module Market, India, Appendix.
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