Worldwide Solar Photovoltaic Market Reaches Record High

May 12, 2010

PV Industry Generates $38B in Revenue in 2009 and Forecast to Return to Growth in 2010 and Beyond

Worldwide solar photovoltaic (PV) installations reached a record high of 6.43 gigawatt (GW) in 2009—a 6% Y/Y growth, according to the latest Marketbuzz^® 2010 Report from Solarbuzz^®, an international solar energy market research and consulting company, and a division of The NPD Group. In addition, the company reported that the PV industry generated $38 billion in global revenues in 2009, while successfully raising more than $13.5 billion in equity and debt, up 8% on the prior year.

According to the Marketbuzz 2010 Report, European countries accounted for 4.75 GW, or 74% of world demand in 2009. The top three countries in Europe were Germany, Italy and the Czech Republic, which collectively accounted for 4.07 GW. All three countries experienced soaring demand with Italy becoming the second-largest market in the world. In contrast, Spanish demand in 2009 collapsed to just 4% of its prior-year level. The third-largest market in the world was the US, which grew 36% to 485 MW. Following closely behind was a rejuvenated Japan, ranked fourth and growing 109% Y/Y.

Worldwide solar cell production reached a consolidated figure of 9.34 GW in 2009, up from 6.85 GW a year earlier, with thin film production accounting for 18% of that total. China and Taiwan production continued to build share and now accounts for 49% of global cell production. Of total European demand, net cell imports accounted for 74%.

Source: TAITRA