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Booming Photovoltaic Industry To Stumble Before Resuming High Growth
Oyster Bay NY (SPX) Feb 16, 2009 The photovoltaic industry has quietly boomed over the past decade, growing at a rate of more than 35% per year as demand for solar power has been driven by concerns about climate change and energy independence. As these concerns continue to grow, governments will implement incentive frameworks to promote the adoption of solar energy as a means of shifting electrical power generation away from fossil fuels. These subsidies are a necessary interim measure as the relatively nascent solar industry develops and achieves economies of scale, which in turn will lower the cost of PV installations. The intent is for solar power to achieve grid parity, or the point at which the cost of generating electricity from solar panels approaches that of power production by conventional means, using natural gas, oil or coal. A new report from NextGen Research, "The Global Photovoltaic Market: Sunny Prospects for Energy Independence Through Solar Power", analyzes recent trends and maps out the future direction of the photovoltaic market. Some highlights include: + Just as is the case in many industries, the PV market will suffer from the impact of 2008's financial meltdown (along with other restraining factors) for at least two years, before experiencing markedly higher growth starting in 2011. As a result, global demand for photovoltaic installations will slow from its previously robust compound annual growth rate (CAGR) of 35%, and will see growth averaging about 24% per year through 2013. + Japan, the United States and Italy are among the countries that will drive demand, as ebbing subsidies shift growth away from Spain and Germany. + Vertically integrated manufacturers will fare well, as will low-cost and high-volume producers of solar panels; these companies will achieve huge economies of scale, which will cause prices to fall further while spurring greater demand. Says Larry Fisher, Research Director for NextGen Research, "With the advent of the global economic recession, the collapse of the credit markets, and far too many PV companies producing an excess supply of panels, the market for photovoltaics has reached a turning point. As both financing and venture capital has dried up, we can expect significant consolidation in the market in the 2009-2010 time frame, and some companies actually will buy their way into major market positions." Share This Article With Planet Earth
Related Links ABI Research "The Global Photovoltaic Market: Sunny Prospects for Energy Independence Through Solar Power" All About Solar Energy at SolarDaily.com
Clear Skies Solar Announces Solar Farm Project In Badger
Beverly Hills CA (SPX) Feb 16, 2009Clear Skies Solar has signed a Memorandum of Agreement with Badger Creek Development for the design and construction of a 2.1 MW Solar Farm to be located in Badger, CA. |
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