Abstract
Introduction
2008 was a record year for solar PV sales, with 5.7 GW of new capacity added.
Spain shot into top place, with 2.7 GW added, the largest volume of annual
sales achieved by any country ever, followed by Germany with 1.5 GW. Between
them they accounted for three quarters of world sales. However, Spain' s
preeminence was short-lived and in the wake of the financial crisis the
Spanish government announced a cap on the feed-in subsidy for solar PV
installations at 500 MW in 2009. This will not only put a brake on Spanish
sales but will reduce the global solar PV total in 2009, we believe by at
least 50%. The Spanish renewable associations are looking ahead at least two
years before recovery starts in Spain.
The slow down in solar PV sales has had some good outcomes however. The
shortage of silicon, which has been restraining development, is no longer a
major issue and by the time recovery starts new supply should be in place.
Secondly, prices of solar modules are coming down. Thirdly, small companies in
the supply chain are merging and being taken ove, consolidating the industry.
The report, monitors the progress of two new players in the international
market, China and Korea. Chinese solar PV companies have developed very fast
and a number conducted IPOs in China and other countries in 2007 and 2008. A
mushrooming production capacity for solar cells and modules has been
accompanied by growing production and re-cycling of silicon. This is affected
by the global slow-down but the Chinese industry is already well placed for
the future. Domestic demand in China has not kept pace and it is an export
oriented industry to date.
With the cut-back in Spain, Germany, followed by Japan and the USA still
remains the global leader, but new countries are entering the market and the
industry is spreading beyond its historical areas.
Outline of Report
- The report provides data up to the end of 2008 with commentary and
available information for 2009
- Spain was a bright shooting star in 2008 but with the financial crisis has
fallen to earth in 2009
- Germany is consolidating its position in 2009 as the largest solar PV
market, followed by Japan and the USA
- The dramatic emergence of China as a world player, with ambitious
expansion plans for Solar PV
- The surge of IPOs in the solar PV industry in 2006-2007/08 has come to a
halt, and consolidations are taking place in the industry
- The silicon shortage is evaluated, the future outlook discussed
- New feedstock technologies and sources are emerging to combat the global
silicon shortage
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