Global Solar Photovoltaic Market Analysis and Forecasts to 2020

Transcription

1 Global Solar Photovoltaic Market Analysis and Page(1)

2 1 Table of Contents 1 Table of Contents 1.1 List of Tables 1.2 List of Figures 2 Introduction 2.1 What is This Report About? 2.2 How to Use This Report? 2.3 Market Definition 3 Solar Photovoltaic (PV), Executive Summary 4 Global Solar Photovoltaic (PV) Power Market 4.1 Global Solar PV Power Market, Overview 4.2 Global Solar PV Power Market, Impact of Financial Crisis 4.3 Global Solar PV Power Market Size and Growth, Global Solar PV Power Market, Top Countries, Global Solar PV Power Market, Top Countries, 2008 vs Solar Photovoltaic (PV) Regional Market Trends 5.1 Solar Photovoltaic (PV) Market in Europe Solar PV in Europe, Market Size and Growth, Solar PV in Europe, Top Countries, 2008 vs Solar PV in Europe, Market Development in Key Countries 5.2 Solar Photovoltaic (PV) Market in Asia-Pacific Solar PV in Asia-Pacific, Market Size and Growth, Solar PV in Asia-Pacific, Top Countries, 2008 vs Solar PV in Asia-Pacific, Market Development in Key Countries 5.3 Solar Photovoltaic (PV) Market in North America Solar PV in North America, Market Size and Growth, Solar PV in North America, Top Countries, Solar PV in North America, Market Development in Key Countries Page(2)

3 5.4 Solar Photovoltaic (PV) Market in Central and South America Solar PV in Central and South America, Market Size and Growth, Solar PV in Central and South America, Top Countries, Solar PV in Central and South America, Market Development in Key Countries 5.5 Solar PV in Africa and Middle East 6 Solar Photovoltaic (PV), Technology and R&D Trends 6.1 Solar PV, Technology Analysis Conventional Methods Silicon Based Thin Film Based 6.2 Solar PV, Key R&D Analysis Solar PV, Key R&D Analysis, Overview Solar PV, Key R&D Analysis in Germany Solar PV, Key R&D Analysis in the US Solar PV, Key R&D Analysis in Japan 7 Solar Photovoltaic (PV), Cost Analysis 7.1 Solar PV, Cost Comparison with Other Renewable Technologies 8 Solar Photovoltaic (PV), Key Drivers For Development 8.1 Environmental and Climate Change Concerns 8.2 Increasing Need for Secure Supply of Power 8.3 Supportive Policy and Regulatory Framework Feed-in Tariff Policy Renewable Energy Law (REL) Renewable Portfolio Standards Net Metering Laws 9 Solar Photovoltaic (PV), Key Restraints For Growth 9.1 High Cost of Manufacturing Solar-electric Power Components 9.2 Inadequate Manufacturing Infrastructure to Increase Throughput and Yield 9.3 Need for Continuous Research and Development Efforts 9.4 Insufficient Development of Balance of Systems (BOS) 9.5 Institutional Barriers 10 Suntech Power Holdings Co., Ltd., Company Snapshot Page(3)

4 10.1 Key Information 10.2 Company Overview 10.3 Financial Performance 10.4 SWOT Snapshot 10.5 Business Description Business Overview Photovoltaic Products 10.6 Major Products and Services Overview 10.7 History 10.8 Business Strategy Mission Statement Strategy Corporate Social Responsibility 10.9 SWOT Analysis Overview Suntech Power Holdings Co., Ltd. Strengths Suntech Power Holdings Co., Ltd. Weaknesses Suntech Power Holdings Co., Ltd. Opportunities Suntech Power Holdings Co., Ltd. Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office Other Locations & Subsidiaries 11 Renewable Energy Corporation ASA, Company Snapshot Page(4)

5 11.1 Key Information 11.2 Company Overview 11.3 Financial Performance 11.4 SWOT Snapshot 11.5 Business Description Business Overview REC Silicon REC Solar REC Wafer 11.6 Major Products and Services Overview 11.7 History 11.8 Business Strategy Mission Statement Strategy Corporate Social Responsibility 11.9 SWOT Analysis Overview Renewable Energy Corporation ASA Strengths Renewable Energy Corporation ASA Weaknesses Renewable Energy Corporation ASA Opportunities Renewable Energy Corporation ASA Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office Other Locations & Subsidiaries Page(5)

6 12 SolarWorld AG, Company Snapshot 12.1 Key Information 12.2 Company Overview 12.3 Financial Performance 12.4 SWOT Snapshot 12.5 Business Description Business Overview Cells Modules Trade Wafers 12.6 Major Products and Services Overview 12.7 History 12.8 Business Strategy Mission Statement Strategy Corporate Social Responsibility 12.9 SWOT Analysis Overview SolarWorld AG Strengths SolarWorld AG Weaknesses SolarWorld AG Opportunities SolarWorld AG Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Page(6)

7 Head Office 13 Evergreen Solar, Inc. Company Snapshot 13.1 Key Information 13.2 Company Overview 13.3 Financial Performance 13.4 SWOT Snapshot 13.5 Business Description Business Overview Solar Power Products 13.6 Major Products and Services Overview 13.7 History 13.8 Business Strategy Mission Statement Strategy 13.9 SWOT Analysis Overview Evergreen Solar, Inc. Strengths Evergreen Solar, Inc. Weaknesses Evergreen Solar, Inc. Opportunities Evergreen Solar, Inc. Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office Other Locations & Subsidiaries Page(7)

8 14 Q-Cells AG, Company Snapshot 14.1 Key Information 14.2 Company Overview 14.3 Financial Performance 14.4 SWOT Snapshot 14.5 Business Description Business Overview Core Business New Technologies 14.6 Major Products and Services Overview 14.7 History 14.8 Business Strategy Mission Statement Strategy Corporate Social Responsibility 14.9 SWOT Analysis Overview Q-Cells AG Strengths Q-Cells AG Weaknesses Q-Cells AG Opportunities Q-Cells AG Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office Other Locations & Subsidiaries Page(8)

9 15 SunPower Corporation, Company Snapshot 15.1 Key Information 15.2 Company Overview 15.3 Financial Performance 15.4 SWOT Snapshot 15.5 Business Description Business Overview Components Systems 15.6 Major Products and Services Overview 15.7 History 15.8 Business Strategy Mission Statement Strategy 15.9 SWOT Analysis Overview SunPower Corporation Strengths SunPower Corporation Weaknesses SunPower Corporation Opportunities SunPower Corporation Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office Other Locations & Subsidiaries Page(9)

10 16 Sunways AG, Company Snapshot 16.1 Key Information 16.2 Company Overview 16.3 Financial Performance 16.4 SWOT Snapshot 16.5 Business Description Business Overview Solar Cells Solar Systems 16.6 Major Products and Services Overview 16.7 History 16.8 Business Strategy Mission Statement Strategy 16.9 SWOT Analysis Overview Sunways AG Strengths Sunways AG Weaknesses Sunways AG Opportunities Sunways AG Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office 17 Trina Solar Limited, Company Snapshot 17.1 Key Information Page(10)

11 17.2 Company Overview 17.3 Financial Performance 17.4 SWOT Snapshot 17.5 Business Description Business Overview Non-Allocated Solar Modules 17.6 Major Products and Services Overview 17.7 History 17.8 Business Strategy Mission Statement Strategy 17.9 SWOT Analysis Overview Trina Solar Limited Strengths Trina Solar Limited Weaknesses Trina Solar Limited Opportunities Trina Solar Limited Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Locations and Subsidiaries Head Office Other Locations & Subsidiaries 18 Solon AG fuer Solartechnik, Company Snapshot 18.1 Key Information 18.2 Company Overview Page(11)

12 18.3 Financial Performance 18.4 SWOT Snapshot 18.5 Business Description Business Overview Components System Technology 18.6 Major Products and Services Overview 18.7 History 18.8 Business Strategy Mission Statement Strategy 18.9 SWOT Analysis Overview Solon AG fuer Solartechnik Strengths Solon AG fuer Solartechnik Weaknesses Solon AG fuer Solartechnik Opportunities Solon AG fuer Solartechnik Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office Other Locations & Subsidiaries 19 Ersol Solar Energy AG, Company Snapshot 19.1 Key Information 19.2 Company Overview Page(12)

13 19.3 Financial Performance 19.4 SWOT Snapshot 19.5 Business Description Business Overview Modules Silicon Solar Cells Wafers 19.6 Major Products and Services Overview 19.7 History 19.8 Business Strategy Mission Statement Strategy Corporate Social Responsibility 19.9 SWOT Analysis Overview Ersol Solar Energy AG Strengths Ersol Solar Energy AG Weaknesses Ersol Solar Energy AG Opportunities Ersol Solar Energy AG Threats Competitors Revenue Analysis Revenue by Segment Revenue by Geography Share Holding Structure Key Employees Key Employee Biographies Company Statement Locations and Subsidiaries Head Office Other Locations & Subsidiaries 20 Solar PV Industry, Deals Summary 20.1 Solar PV Industry, Deal Value versus Volume Analysis, July - December, 2008 Page(13)

14 20.2 Solar PV Industry, Top Deals, December Shell Completes Senior Notes Offering Of $2,750 Million Conergy Raises $634.6 Million in A Public Offering 20.3 Solar PV Industry, Transactions by Deal Type, July - December, Contribution of Private Equity / Venture Capital towards Solar PV 20.5 Solar PV Industry, Top PE Deals, July - December Solar Power Partners Raises Around $100 Million Through Equity And Debt Financing Private Equity Firms Acquire Stake In Moser Baer Photo Voltaic Hudson Clean Energy Invests $75 Million In Recurrent Energy 20.6 Solar PV Industry, Top VC Deals, July - December Nanosolar Secures $300 Million In Equity Financing Solyndra Secures $219.2 Million In Series E Financing SoloPower Secures $200 Million In Venture Financing 20.7 Solar PV Industry, M&A Deals, July - December, Solar PV Industry, Top M&A Deals, July - December Xantrex Technology Shareholders Approve Acquisition By Schneider Electric GE and Grupo Corporativo To Invest $350 Million In Fotowatio Iberdrola Renovables Receives Approval from The Greek Capital Markets Regulator To Acquire Remaining Stake In C. ROKAS 20.9 Solar PV Industry, Equity Offering Summary, July - December, Solar PV Industry, Top Equity Offerings, April- September General Electric Announces Private Placement Of $3,000 Million GCL Silicon Technology Files For An Initial Public Offering EDF Energies Nouvelles Completes Offering Of $733.8 Million Solar PV Industry, Debt Offerings Summary, July - December, Solar PV Industry, Top Debt Offering, July - December BP Completes Senior Notes Offering Of $8,000 Million Shell Completes Senior Notes Offering Of $2,750 Million RWE Completes Public Offering Of $1, Million Solar PV Industry, Deal Summary by Geography Solar PV Industry, North America Region Deals, July - December, Solar PV Industry, European Region Deals, July - December, Solar PV Industry, Asia-Pacific Region Deals, July - December, Financial Deals Landscape Page(14)

15 21.1 Detailed Deal Summary Merger Acquisition Private Equity Venture Financing Equity Offerings Debt Offerings Partnerships Asset Transactions 22 Recent Developments 22.1 New Projects Feb 03, 2009: China To Turn Solar Energy As Major Energy Source By Jan 19, 2009: MLC to Install 359 kw Solar Array in Massachusetts Jan 15, 2009: MNRE To Set Up Renewable Energy Company In India Jan 10, 2009: IREO Announces Inauguration Of 250 kw Shiraz Solar Power Plant, Iran Jan 07, 2009: Clinton Foundation To Set Up 500 MW Solar Power Plant In Gujarat Dec 30, 2008: Jamaica To Construct Solar Power Plant Dec 27, 2008: Iran Establishes First Solar Power Station Dec 22, 2008: Salt Lake County Plans Solar Installation On 50 County Buildings Dec 20, 2008: Pakistan Launches Four Power Projects Totalling 382 MW Since July Dec 08, 2008: Kunming Shilin Starts Construction Of Grid-Connected Solar PV Power Station Nov 26, 2008: Australia Provides $3.3 Million In Funding For Alice Solar City Project Nov 25, 2008: Botswana DEA Plans 200 MW Solar Power Station Nov 05, 2008: MREDA Opens Wind-Solar Hybrid Power Project Nov 04, 2008: Indian State Of Haryana To Invest INR37.7 Billion On Renewable Energy Nov 04, 2008: WWF-Pakistan And PCRET Install Solar Power Panels In Sindh 22.2 New Contracts Jan 27, 2009: enxco Signs 25 Year PPA With Carrier Clinic Jan 26, 2009: Bullfrog Provides Power To Stores Of MEC Jan 21, 2009: Refex Sign MoU With Gujarat To Build 50 MW Solar PV Power Plant Jan 19, 2009: NextLight To Sign Contract With Boulder City To Build 100 MW PV Plant Jan 14, 2009: Phoenix Solar Extends Agreement With KGAL To Develop PV Plants Jan 07, 2009: SunEdison Receives Contract From Developers Diversified For Solar Energy System Installation Dec 22, 2008: Sopogy Signs Agreement With Inypsa And Omniwatt To Develop 50 MW Solar Power Plant In Spain Dec 18, 2008: Motech Wins Contract From Taipower To Set Up 1 MWp Solar Power System In Taiwan Dec 11, 2008: Conergy Receives Contract From NSS To Build 2 MW Solar Plant For KAUST Nov 29, 2008: RIL To Sell Solar Energy To Three Power Companies In Rajasthan Nov 24, 2008: SonnenEnergy Signs Agreement With ASG To Build And Maintain Solar Parks 22.3 Strategy and Business Planning Feb 02, 2009: KPCL Receives Approval For 270 MW Hydro Power Project Page(15)

16 Dec 02, 2008: Atlantic Energy Plans To Construct 50 MW Solar Power Plant Dec 02, 2008: FPL Starts Construction Of 75 MW Solar Energy Center In Florida Nov 27, 2008: Refex Partners With IBC Solar For PV Projects In India Nov 26, 2008: BHEL To Enter Solar Energy Sector With INR30 Billion Investment Nov 25, 2008: Jindal Steel To Enter Nuclear And Solar Energy Sector In India Nov 18, 2008: Suzlon Plans To Enter Solar Energy Sector 22.4 Government and Public Interest Feb 03, 2009: China To Turn Solar Energy As Major Energy Source By Jan 30, 2009: South Korea To Establish KRW100 Billion Alternative Energy Fund Jan 22, 2009: Spain, Portugal To Build Iberian Renewable Energy Centre In Badajoz, Spain Jan 18, 2009: US Allocates Fund For Renewable Energy And Smart Grid Jan 15, 2009: MNRE To Set Up Renewable Energy Company In India Jan 13, 2009: China Launches Solar Action Plan Dec 31, 2008: South Korean MKE To Invest KRW111.5 Trillion For Solar And Wind Power R&D Dec 26, 2008: California Senator Introduces Solar Power Bill Dec 17, 2008: Australia Introduces Solar Credits Draft Legislation Dec 16, 2008: India Plans To Allow Trading Energy Efficiency Credits Dec 14, 2008: Australia Allocates $500 Million For Clean Power Plants Nov 28, 2008: Pakistan To Produce 9700 MW From Renewable Energy Source By Other Significant Developments Jan 20, 2009: SFPUC Announces Series Of Solar PV Projects In San Francisco Jan 07, 2009: FPL Announces Name Change Of Its Subsidiary Nov 12, 2008: Conergy Sells Thin-film PV Plant To A German Issuing House Nov 01, 2008: Zlaten To Invest BGN1 Million In Solar Power Plant 23 Appendix 23.1 Methodology Coverage Secondary Research Primary Research Expert Panel Validation 23.2 Contact Us 23.3 Disclaimer Page(16)

17 1.1 List of Tables Table 1: Germany, Payment Structure for Different Types of PV Installations, 2004 Table 2: Germany, Feed-in-Tariff, / KWh, Table 3: Spain, Feed-in-Tariffs, / kwh, Table 4: Spain, New Feed-in-Tariff, / kwh, 2009 Table 5: Spain, Tax Rebate, By Year, Table 6: Spain, Solar PV Support Measures, 2008 Table 7: Italy, RPS, Minimum Obligation Quota per Fiscal year Table 8: Italy, Green Power Certificates, by Renewable Energy Source Co-efficient factor Table 9: Italy, Feed-in-Tariff, / KWh, Table 10: Italy, Solar PV Support Measures, 2008 Table 11: Global, Status of Renewable Technologies Characteristics and Cost Table 12: Global, Expected PV Generation Costs Across Major Cities in the World,, Table 13: Suntech Power Holdings Co., Ltd.,Key Facts, 2007 Table 14: Suntech Power Holdings Co., Ltd., SWOT Analysis, 2007 Table 15: Suntech Power Holdings Co., Ltd., Revenue by Segment, USD Absolute, Table 16: Suntech Power Holdings Co., Ltd., Revenue by Geography, USD Absolute, Table 17: Suntech Power Holdings Co., Ltd., Share Holding Structure Table 18: Suntech Power Holdings Co., Ltd., Key Employees, 2007 Table 19: Suntech Power Holdings Co., Ltd., Other Locations Table 20: Suntech Power Holdings Co., Ltd., Subsidiaries Table 21: Renewable Energy Corporation ASA,Key Facts, 2007 Table 22: Renewable Energy Corporation ASA, SWOT Analysis, 2007 Table 23: Renewable Energy Corporation ASA, Revenue by Segment, Norwegian Krone Thousand, Table 24: Renewable Energy Corporation ASA, Revenue by Geography, Norwegian Krone Thousand, Table 25: Renewable Energy Corporation ASA, Share Holding Structure Table 26: Renewable Energy Corporation ASA, Key Employees, 2007 Table 27: Renewable Energy Corporation ASA, Subsidiaries Table 28: SolarWorld AG,Key Facts, 2007 Table 29: SolarWorld AG, SWOT Analysis, 2007 Table 30: SolarWorld AG, Revenue by Segment, Euro Thousand, Table 31: SolarWorld AG, Revenue by Geography, Euro Thousand, Table 32: SolarWorld AG, Share Holding Structure Table 33: SolarWorld AG, Key Employees, 2007 Table 34: Evergreen Solar, Inc.,Key Facts, 2007 Table 35: Evergreen Solar, Inc., SWOT Analysis, 2007 Table 36: Evergreen Solar, Inc., Revenue by Segment, USD Thousand, Table 37: Evergreen Solar, Inc., Revenue by Geography, USD Thousand, Table 38: Evergreen Solar, Inc., Share Holding Structure Table 39: Evergreen Solar, Inc., Key Employees, 2007 Table 40: Evergreen Solar, Inc., Other Locations Table 41: Q-Cells AG,Key Facts, 2007 Page(17)

18 Table 42: Q-Cells AG, SWOT Analysis, 2007 Table 43: Q-Cells AG, Revenue by Segment, Euro Million, Table 44: Q-Cells AG, Revenue by Geography, Euro Million, Table 45: Q-Cells AG, Share Holding Structure Table 46: Q-Cells AG, Key Employees, 2007 Table 47: Q-Cells AG, Other Locations Table 48: SunPower Corporation,Key Facts, 2007 Table 49: SunPower Corporation, SWOT Analysis, 2007 Table 50: SunPower Corporation, Revenue by Segment, USD Thousand, Table 51: SunPower Corporation, Revenue by Geography, USD Thousand, Table 52: SunPower Corporation, Share Holding Structure Table 53: SunPower Corporation, Key Employees, 2007 Table 54: SunPower Corporation, Other Locations Table 55: Sunways AG,Key Facts, 2007 Table 56: Sunways AG, SWOT Analysis, 2007 Table 57: Sunways AG, Revenue by Segment, Euro Thousand, Table 58: Sunways AG, Revenue by Geography, Euro Thousand, Table 59: Sunways AG, Key Employees, 2007 Table 60: Trina Solar Limited,Key Facts, 2007 Table 61: Trina Solar Limited, SWOT Analysis, 2007 Table 62: Trina Solar Limited, Revenue by Segment, USD Absolute, Table 63: Trina Solar Limited, Revenue by Geography, USD Absolute, Table 64: Trina Solar Limited, Share Holding Structure Table 65: Trina Solar Limited, Key Employees, 2007 Table 66: Trina Solar Limited, Other Locations Table 67: Solon AG fuer Solartechnik,Key Facts, 2007 Table 68: Solon AG fuer Solartechnik, SWOT Analysis, 2007 Table 69: Solon AG fuer Solartechnik, Revenue by Segment, Euro Thousand, Table 70: Solon AG fuer Solartechnik, Revenue by Geography, Euro Thousand, Table 71: Solon AG fuer Solartechnik, Share Holding Structure Table 72: Solon AG fuer Solartechnik, Key Employees, 2007 Table 73: Solon AG fuer Solartechnik, Other Locations Table 74: Solon AG fuer Solartechnik, Subsidiaries Table 75: ersol Solar Energy AG,Key Facts, 2007 Table 76: ersol Solar Energy AG, SWOT Analysis, 2007 Table 77: ersol Solar Energy AG, Revenue by Segment, Euro Thousand, Table 78: ersol Solar Energy AG, Revenue by Geography, Euro Thousand, Table 79: ersol Solar Energy AG, Share Holding Structure Table 80: ersol Solar Energy AG, Key Employees, 2007 Table 81: ersol Solar Energy AG, Subsidiaries Table 82: Constellation Energy And MidAmerican Energy Terminate Merger Agreement Table 83: Tenaska Solar Completes Equity Investment In Soltage Table 84: Environmental Technologies To Acquire Atlantic Wind & Solar Page(18)

19 Table 85: Table 86: Table 87: Table 88: Table 89: Table 90: Table 91: Table 92: Table 93: Table 94: Table 95: Table 96: Table 97: Table 98: Table 99: Table 100: Table 101: Table 102: Table 103: Table 104: Table 105: Table 106: Table 107: Table 108: Table 109: Table 110: Table 111: Table 112: Water Capital Completes Acquisition Of Schneider Power Soham Renewable Energy Plans To Raise $26.17 Million Hudson Clean Energy Partners Acquires Helium Energy Demeter, SORIDEC And IRPAC Invest In JMB Energie Nanosolar Secures $300 Million In Equity Financing Enel Green Power Plans For IPO General Electric Announces Public Offering Of $12,000 Million General Electric Announces Private Placement Of $3,000 Million EDF Energies Nouvelles Completes Offering Of $733.8 Million GreenHunter Energy Completes $3.2 Million Private Placement The Tokyo Electric Power Company Announces Bond Offering Of $ Million FPL Group Completes Debt Offering Of $450 Million Shell Completes Senior Notes Offering Of $2,750 Million Tokyo Electric Power Completes $ Million Of Bond Offering The Tokyo Electric Power Company Completes Public Offering Of $ Million RWE Completes Public Offering Of $1, Million RWE Completes Public Offering Of $1, Million Fred. Olsen Completes Debt Offering Of $479 Million BP Completes Senior Notes Offering Of $8,000 Million The Tokyo Electric Power Company Completes Public Offering Of $ Million The Tokyo Electric Power Company Completes Public Offering Of $ Million Total Capital Prices Debt Offerig Of $150 Million Clear Skies Solar Enters Into Partnership With Prayag Green Solar Lakeland Electric And SunEdison Sign Agreement Portland General Electric Forms Joint Venture With U.S. Bank Progress Energy Enters Into Partnership With SunEdison Fotowatio Acquires 4 Solar photovoltaic Power Plants In Spain FCC Acquires Two Photovoltaic Systems In Cordoba Page(19)

20 1.2 List of Figures Figure 1: Global, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 2: Global, Cumulative and Annual Solar PV Installed Capacity Top Countries, MW, 2008 Figure 3: Global, Cumulative Solar PV Installed Capacity Top Countries, %, 2008 vs 2020 Figure 4: Europe, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 5: 2020 Europe, Top Countries, Share in the Total Cumulative Solar PV Installed Capacity of the Region, %, 2008 vs Figure 6: Germany, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 7: Spain, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 8: Italy, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 9: Asia-Pacific, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 10: Asia-Pacific, Top Countries, Share in the Total Solar PV Installed Capacity in the Region, %, 2008 vs 2020 Figure 11: Japan, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 12: China, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 13: Australia, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 14: North America, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 15: North America, Top Countries, Share in the Total Solar PV Installed Capacity in the Region, %, 2008 Figure 16: The US, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 17: Canada, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 18: Mexico, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 19: Central and South America, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 20: Central and South America, Top Countries, Share in the Total Solar PV Installed Capacity in the Region, %, 2008 Figure 21: Brazil, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 22: Argentina, Cumulative and Annual Solar PV Installed Capacity, MW, Figure 23: Africa, Regional Market Share for Solar PV, 2008 Figure 24: Global, World CO 2 Emissions, Million Metric Tons, Figure 25: Global, World Projected Energy Demand, Mtoe, Figure 26: Solar PV Industry, Deal Value and Volume, July - December, 2008 Figure 27: Solar PV Industry, Deal Volume, July - December, 2008 Figure 28: Solar PV Industry, Private Equity and Venture Capital, Deal Value and Volume, July - December, 2008 Figure 29: Solar PV Industry, M&A Transactions, Deal Value and Volume, July - December, 2008 Figure 30: Solar PV Industry, Equity Transactions,, Deal Value and Volume, July - December, 2008 Figure 31: Solar PV Industry, Debt Transactions,, Deal Value and Volume, July - December, 2008 Figure 32: Solar PV Industry, North America Region Deals, Deal Value and Volume, July - December, 2008 Figure 33: Solar PV Industry, European Region Deals, Deal Value and Volume, July - December, 2008 Figure 34: Solar PV Industry, Asia-Pacific Region Deals, Deal Value and Volume, July - December, 2008 Figure 35: GlobalData Methodology Page(20)

21 Introduction 2 Introduction 2.1 What is This Report About? Global Solar Photovoltaic Market Analysis and report provides an overview of the global solar photovoltaic industry. Sub-chapters in the report detail historical and forecast statistics till 2020 relating to the installed capacities. It also covers the regulatory policies that govern the solar photovoltaic industry. It also provides information relating to the important technological, market, and research and development (R&D) trends on a global basis. The report also analyzes the key countries and top ten market players in the global solar photovoltaic market. 2.2 How to Use This Report? This report comprises of an executive summary covering the global Solar Photovoltaic market as whole and specific sub chapters highlighting growth, regional market analysis, key drivers, technology analysis and key country and company analysis. The report also includes a chapter detailing GlobalData methodology. 2.3 Market Definition Historic data is taken from various government associations and websites, company websites and reports and Solar Photovoltaic related news journals, etc. The projections of solar PV installed capacity till 2020 are based on the current and future market conditions in the global solar photovoltaic market. All the capacities given in this report are cumulative capacities taken as on 31st December of every year and have been rounded off to one decimal point. Page(21)

22 Executive Summary 3 Solar Photovoltaic (PV), Executive Summary Solar is the most abundantly available permanent energy source on earth. The energy content of solar radiation can be optimally utilized by using solar technologies such as Solar Photovoltaic (PV). The global solar PV market has observed tremendous growth over the years with the total installed capacity augmenting from 1.3 GW in the year 2001 to 15.2 GW by Global Solar PV Power Market to be hit by financial crisis in 2009 Solar PV is the world s fastest growing energy source. From 1.3 GW in the year 2001, the global solar PV installed capacity reached to 15.2 GW by 2008, growing at a CAGR of 42.6%. The stupendous growth observed by the global Solar PV market has been affected by the perilous financial crisis. The impact of the financial crisis will be witnessed in the year 2009 with the dip in the annual solar PV installations of most of the countries engaged in the Solar PV electricity generation. Consolidation the Outcome of the Financial Crisis The global financial crisis has definitely left a void in the world of renewable energy financing and solar PV sector is no exception. The current situation of the financial market signals a near halt in debt financing for large-scale solar power parks and this is likely to last until the end of year With the credit crunch in the market, smaller companies with weak cash flows are expected to be the most affected. This scenario would give an opportunity to the big giants in the solar industry to takeover the smaller companies, thereby leading to consolidation of the solar industry. The consolidation would give the big solar companies total control over the solar market. The optimistic view of consolidation is that it would end the current fragmentation and facilitate the emergence of industry mammoths, with the ability to deliver massive economies of scale in the Solar PV industry. Germany Dominated Photovoltaic Installations Worldwide in 2008 The European photovoltaic market is consistently growing, outpacing other regions worldwide. The growth in the overall European market has been principally driven by the dynamism of the German market. The cumulative installed capacity in Germany has increased from 195 MW in 2001 to 5,337 MW in 2008, making Germany the largest market for photovoltaic installations worldwide with a global market share of 35% in the year Germany has positioned itself as an excellent location for solar energy investments due to strong governmental support, availability of a highlyqualified workforce, and a plentiful supply of scientific research centers and universities, such as Fraunhofer and Max-Planck-Institutes. All these factors put together guarantee rapid and smooth implementation and development of PV projects in the country. Spanish Solar PV market to be Hit by Trimming of Subsidies and Credit Crisis The Spainsh Solar PV market has grown tremendously over the years. With around 2,670 MW of annual installations in the year 2008 alone, the market has witnessed significant growth in the solar PV segment. The remarkable growth observed by the Spainsh Solar PV Market has of late Page(22)

23 Executive Summary been impacted by the shrinking subsidies and credit crisis. This would have an adverse impact on the annual installations in the year In the long run, once the global economic conditions stabilizes and solar PV industry is able to survive without the support of incentives, the Spainsh Solar PV market would gradually grow and reach total cpacity of 33,738 MW by Italy to Emerge as the Fastest Growing Solar PV Nation The global financial crisis would have a negligible impact on the Italian Solar PV market. This is because the market is strongly supported by the government in terms of Feed-in-tariffs for solar PV installations in the country. The Feed-in-tariffs for Solar PV in Italy has also been raised, thereby making Italy solar PV market a lucrative investment hub. The rise in tariffs accompanied with enormous growth potential of the country for solar PV development would lead to more number of solar PV installations in the country in the future years. Considering the positive outlook of the Italian Solar PV market, the cumulative installed capacity is expected to grow at a CAGR of around 48% during the period to reach 47 GW by The US to lead the Global Solar PV market by 2020 The US Solar PV market has grown from 168 MW in 2001 to 1,110 MW by 2008, growing at a CAGR of 31% during the period The significant growth witnessed by the US solar PV sector could be attributed to the strong support from the US Government in terms of tax credits. The recent extension of tax credits with effect from 1 st January, 2009 till the yearc 2016, will further drive the US Solar PV market towards the growth trajectory. Considering this, the US Solar PV market is expected to grow at a higher CAGR of around 48% during the period , to reach total installed capacity of 76 GW by the year end South America and Africa Will Need Large Capacity Building to catch up with Other Regions Central and South America is a small region for solar PV installations. The region s cumulative solar PV installed capacity has grown from 19 MW in 2001 to 32 MW in 2008, growing at a CAGR of 8%. Brazil and Argentina are the only countries prominently in use of solar technology in this region with a cumulative installed capacity of 20 MW and 12 MW respectively at the end of the year Solar PV installations in this region are expected to reach the cumulative capacity of 111 MW by In the African Region, despite huge solar energy resource, the growth has been below expectations. The African solar PV market had a total solar PV capacity of only eight MW at the end of 2008.This is because the region meets most of its energy requirements from conventional sources and there is no specific mandate by the Government to support the renewable sources. However, the growing environmental concerns and energy security would necessitate the development of renewable energy sources including Solar PV in the future. Thus, the region requires several large capacity solar PV projects to be in tune with the renewable base of other regions in the world. Page(23)

24 Executive Summary Non-Silicon Thin-Film Technology Will Govern the Future Growth Among the thin-film technologies, the non-silicon based technologies hold significant growth potential in the years to come. Share of this technology has increased reasonably well. Considering that non-silicon based thin-film technology is completely based on non-silicon material such as CdTe, CIGS, so the chances of it being hindered by the polysilicon market fluctuations are negligible. The significant growth prospects of this technology have triggered many companies to enter the non-silicon based thin-film market. Correspondingly, with new companies setting up their non-silicon production lines in the coming years, the market share for this technology is expected to increase at a faster pace in the near future. Page(24)