Global Solar Photovoltaic Market Analysis and Page(1)
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, 2001-20 4.4 Global Solar PV Power Market, Top Countries, 2008 4.5 Global Solar PV Power Market, Top Countries, 2008 vs 2020 5 Solar Photovoltaic (PV) Regional Market Trends 5.1 Solar Photovoltaic (PV) Market in Europe 5.1.1 Solar PV in Europe, Market Size and Growth, 2001-20 5.1.2 Solar PV in Europe, Top Countries, 2008 vs 2020 5.1.3 Solar PV in Europe, Market Development in Key Countries 5.2 Solar Photovoltaic (PV) Market in Asia-Pacific 5.2.1 Solar PV in Asia-Pacific, Market Size and Growth, 2001-20 5.2.2 Solar PV in Asia-Pacific, Top Countries, 2008 vs 2020 5.2.3 Solar PV in Asia-Pacific, Market Development in Key Countries 5.3 Solar Photovoltaic (PV) Market in North America 5.3.1 Solar PV in North America, Market Size and Growth, 2001-20 5.3.2 Solar PV in North America, Top Countries, 2008 5.3.3 Solar PV in North America, Market Development in Key Countries Page(2)
5.4 Solar Photovoltaic (PV) Market in Central and South America 5.4.1 Solar PV in Central and South America, Market Size and Growth, 2001-20 5.4.2 Solar PV in Central and South America, Top Countries, 2008 5.4.3 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 6.1.1 Conventional Methods Silicon Based 6.1.2 Thin Film Based 6.2 Solar PV, Key R&D Analysis 6.2.1 Solar PV, Key R&D Analysis, Overview 6.2.2 Solar PV, Key R&D Analysis in Germany 6.2.3 Solar PV, Key R&D Analysis in the US 6.2.4 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 8.3.1 Feed-in Tariff Policy 8.3.2 Renewable Energy Law (REL) 8.3.3 Renewable Portfolio Standards 8.3.4 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)
10.1 Key Information 10.2 Company Overview 10.3 Financial Performance 10.4 SWOT Snapshot 10.5 Business Description 10.5.1 Business Overview 10.5.2 Photovoltaic Products 10.6 Major Products and Services 10.6.1 Overview 10.7 History 10.8 Business Strategy 10.8.1 Mission Statement 10.8.2 Strategy 10.8.3 Corporate Social Responsibility 10.9 SWOT Analysis 10.9.1 Overview 10.9.2 Suntech Power Holdings Co., Ltd. Strengths 10.9.3 Suntech Power Holdings Co., Ltd. Weaknesses 10.9.4 Suntech Power Holdings Co., Ltd. Opportunities 10.9.5 Suntech Power Holdings Co., Ltd. Threats 10.10 Competitors 10.11 Revenue Analysis 10.11.1 Revenue by Segment 10.11.2 Revenue by Geography 10.12 Share Holding Structure 10.13 Key Employees 10.14 Key Employee Biographies 10.15 Company Statement 10.16 Locations and Subsidiaries 10.16.1 Head Office 10.16.2 Other Locations & Subsidiaries 11 Renewable Energy Corporation ASA, Company Snapshot Page(4)
11.1 Key Information 11.2 Company Overview 11.3 Financial Performance 11.4 SWOT Snapshot 11.5 Business Description 11.5.1 Business Overview 11.5.2 REC Silicon 11.5.3 REC Solar 11.5.4 REC Wafer 11.6 Major Products and Services 11.6.1 Overview 11.7 History 11.8 Business Strategy 11.8.1 Mission Statement 11.8.2 Strategy 11.8.3 Corporate Social Responsibility 11.9 SWOT Analysis 11.9.1 Overview 11.9.2 Renewable Energy Corporation ASA Strengths 11.9.3 Renewable Energy Corporation ASA Weaknesses 11.9.4 Renewable Energy Corporation ASA Opportunities 11.9.5 Renewable Energy Corporation ASA Threats 11.10 Competitors 11.11 Revenue Analysis 11.11.1 Revenue by Segment 11.11.2 Revenue by Geography 11.12 Share Holding Structure 11.13 Key Employees 11.14 Key Employee Biographies 11.15 Company Statement 11.16 Locations and Subsidiaries 11.16.1 Head Office 11.16.2 Other Locations & Subsidiaries Page(5)
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 12.5.1 Business Overview 12.5.2 Cells 12.5.3 Modules 12.5.4 Trade 12.5.5 Wafers 12.6 Major Products and Services 12.6.1 Overview 12.7 History 12.8 Business Strategy 12.8.1 Mission Statement 12.8.2 Strategy 12.8.3 Corporate Social Responsibility 12.9 SWOT Analysis 12.9.1 Overview 12.9.2 SolarWorld AG Strengths 12.9.3 SolarWorld AG Weaknesses 12.9.4 SolarWorld AG Opportunities 12.9.5 SolarWorld AG Threats 12.10 Competitors 12.11 Revenue Analysis 12.11.1 Revenue by Segment 12.11.2 Revenue by Geography 12.12 Share Holding Structure 12.13 Key Employees 12.14 Key Employee Biographies 12.15 Company Statement 12.16 Locations and Subsidiaries Page(6)
12.16.1 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 13.5.1 Business Overview 13.5.2 Solar Power Products 13.6 Major Products and Services 13.6.1 Overview 13.7 History 13.8 Business Strategy 13.8.1 Mission Statement 13.8.2 Strategy 13.9 SWOT Analysis 13.9.1 Overview 13.9.2 Evergreen Solar, Inc. Strengths 13.9.3 Evergreen Solar, Inc. Weaknesses 13.9.4 Evergreen Solar, Inc. Opportunities 13.9.5 Evergreen Solar, Inc. Threats 13.10 Competitors 13.11 Revenue Analysis 13.11.1 Revenue by Segment 13.11.2 Revenue by Geography 13.12 Share Holding Structure 13.13 Key Employees 13.14 Key Employee Biographies 13.15 Company Statement 13.16 Locations and Subsidiaries 13.16.1 Head Office 13.16.2 Other Locations & Subsidiaries Page(7)
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 14.5.1 Business Overview 14.5.2 Core Business 14.5.3 New Technologies 14.6 Major Products and Services 14.6.1 Overview 14.7 History 14.8 Business Strategy 14.8.1 Mission Statement 14.8.2 Strategy 14.8.3 Corporate Social Responsibility 14.9 SWOT Analysis 14.9.1 Overview 14.9.2 Q-Cells AG Strengths 14.9.3 Q-Cells AG Weaknesses 14.9.4 Q-Cells AG Opportunities 14.9.5 Q-Cells AG Threats 14.10 Competitors 14.11 Revenue Analysis 14.11.1 Revenue by Segment 14.11.2 Revenue by Geography 14.12 Share Holding Structure 14.13 Key Employees 14.14 Key Employee Biographies 14.15 Company Statement 14.16 Locations and Subsidiaries 14.16.1 Head Office 14.16.2 Other Locations & Subsidiaries Page(8)
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 15.5.1 Business Overview 15.5.2 Components 15.5.3 Systems 15.6 Major Products and Services 15.6.1 Overview 15.7 History 15.8 Business Strategy 15.8.1 Mission Statement 15.8.2 Strategy 15.9 SWOT Analysis 15.9.1 Overview 15.9.2 SunPower Corporation Strengths 15.9.3 SunPower Corporation Weaknesses 15.9.4 SunPower Corporation Opportunities 15.9.5 SunPower Corporation Threats 15.10 Competitors 15.11 Revenue Analysis 15.11.1 Revenue by Segment 15.11.2 Revenue by Geography 15.12 Share Holding Structure 15.13 Key Employees 15.14 Key Employee Biographies 15.15 Company Statement 15.16 Locations and Subsidiaries 15.16.1 Head Office 15.16.2 Other Locations & Subsidiaries Page(9)
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 16.5.1 Business Overview 16.5.2 Solar Cells 16.5.3 Solar Systems 16.6 Major Products and Services 16.6.1 Overview 16.7 History 16.8 Business Strategy 16.8.1 Mission Statement 16.8.2 Strategy 16.9 SWOT Analysis 16.9.1 Overview 16.9.2 Sunways AG Strengths 16.9.3 Sunways AG Weaknesses 16.9.4 Sunways AG Opportunities 16.9.5 Sunways AG Threats 16.10 Competitors 16.11 Revenue Analysis 16.11.1 Revenue by Segment 16.11.2 Revenue by Geography 16.12 Key Employees 16.13 Key Employee Biographies 16.14 Company Statement 16.15 Locations and Subsidiaries 16.15.1 Head Office 17 Trina Solar Limited, Company Snapshot 17.1 Key Information Page(10)
17.2 Company Overview 17.3 Financial Performance 17.4 SWOT Snapshot 17.5 Business Description 17.5.1 Business Overview 17.5.2 Non-Allocated 17.5.3 Solar Modules 17.6 Major Products and Services 17.6.1 Overview 17.7 History 17.8 Business Strategy 17.8.1 Mission Statement 17.8.2 Strategy 17.9 SWOT Analysis 17.9.1 Overview 17.9.2 Trina Solar Limited Strengths 17.9.3 Trina Solar Limited Weaknesses 17.9.4 Trina Solar Limited Opportunities 17.9.5 Trina Solar Limited Threats 17.10 Competitors 17.11 Revenue Analysis 17.11.1 Revenue by Segment 17.11.2 Revenue by Geography 17.12 Share Holding Structure 17.13 Key Employees 17.14 Key Employee Biographies 17.15 Locations and Subsidiaries 17.15.1 Head Office 17.15.2 Other Locations & Subsidiaries 18 Solon AG fuer Solartechnik, Company Snapshot 18.1 Key Information 18.2 Company Overview Page(11)
18.3 Financial Performance 18.4 SWOT Snapshot 18.5 Business Description 18.5.1 Business Overview 18.5.2 Components 18.5.3 System Technology 18.6 Major Products and Services 18.6.1 Overview 18.7 History 18.8 Business Strategy 18.8.1 Mission Statement 18.8.2 Strategy 18.9 SWOT Analysis 18.9.1 Overview 18.9.2 Solon AG fuer Solartechnik Strengths 18.9.3 Solon AG fuer Solartechnik Weaknesses 18.9.4 Solon AG fuer Solartechnik Opportunities 18.9.5 Solon AG fuer Solartechnik Threats 18.10 Competitors 18.11 Revenue Analysis 18.11.1 Revenue by Segment 18.11.2 Revenue by Geography 18.12 Share Holding Structure 18.13 Key Employees 18.14 Key Employee Biographies 18.15 Company Statement 18.16 Locations and Subsidiaries 18.16.1 Head Office 18.16.2 Other Locations & Subsidiaries 19 Ersol Solar Energy AG, Company Snapshot 19.1 Key Information 19.2 Company Overview Page(12)
19.3 Financial Performance 19.4 SWOT Snapshot 19.5 Business Description 19.5.1 Business Overview 19.5.2 Modules 19.5.3 Silicon 19.5.4 Solar Cells 19.5.5 Wafers 19.6 Major Products and Services 19.6.1 Overview 19.7 History 19.8 Business Strategy 19.8.1 Mission Statement 19.8.2 Strategy 19.8.3 Corporate Social Responsibility 19.9 SWOT Analysis 19.9.1 Overview 19.9.2 Ersol Solar Energy AG Strengths 19.9.3 Ersol Solar Energy AG Weaknesses 19.9.4 Ersol Solar Energy AG Opportunities 19.9.5 Ersol Solar Energy AG Threats 19.10 Competitors 19.11 Revenue Analysis 19.11.1 Revenue by Segment 19.11.2 Revenue by Geography 19.12 Share Holding Structure 19.13 Key Employees 19.14 Key Employee Biographies 19.15 Company Statement 19.16 Locations and Subsidiaries 19.16.1 Head Office 19.16.2 Other Locations & Subsidiaries 20 Solar PV Industry, Deals Summary 20.1 Solar PV Industry, Deal Value versus Volume Analysis, July - December, 2008 Page(13)
20.2 Solar PV Industry, Top Deals, December 2008 20.2.1 Shell Completes Senior Notes Offering Of $2,750 Million 20.2.2 Conergy Raises $634.6 Million in A Public Offering 20.3 Solar PV Industry, Transactions by Deal Type, July - December, 2008 20.4 Contribution of Private Equity / Venture Capital towards Solar PV 20.5 Solar PV Industry, Top PE Deals, July - December 2008 20.5.1 Solar Power Partners Raises Around $100 Million Through Equity And Debt Financing 20.5.2 Private Equity Firms Acquire Stake In Moser Baer Photo Voltaic 20.5.3 Hudson Clean Energy Invests $75 Million In Recurrent Energy 20.6 Solar PV Industry, Top VC Deals, July - December 2008 20.6.1 Nanosolar Secures $300 Million In Equity Financing 20.6.2 Solyndra Secures $219.2 Million In Series E Financing 20.6.3 SoloPower Secures $200 Million In Venture Financing 20.7 Solar PV Industry, M&A Deals, July - December, 2008 20.8 Solar PV Industry, Top M&A Deals, July - December 2008 20.8.1 Xantrex Technology Shareholders Approve Acquisition By Schneider Electric 20.8.2 GE and Grupo Corporativo To Invest $350 Million In Fotowatio 20.8.3 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, 2008 20.10 Solar PV Industry, Top Equity Offerings, April- September 2008 20.10.1 General Electric Announces Private Placement Of $3,000 Million 20.10.2 GCL Silicon Technology Files For An Initial Public Offering 20.10.3 EDF Energies Nouvelles Completes Offering Of $733.8 Million 20.11 Solar PV Industry, Debt Offerings Summary, July - December, 2008 20.12 Solar PV Industry, Top Debt Offering, July - December 2008 20.12.1 BP Completes Senior Notes Offering Of $8,000 Million 20.12.2 Shell Completes Senior Notes Offering Of $2,750 Million 20.12.3 RWE Completes Public Offering Of $1,270.01 Million 20.13 Solar PV Industry, Deal Summary by Geography 20.13.1 Solar PV Industry, North America Region Deals, July - December, 2008 20.14 Solar PV Industry, European Region Deals, July - December, 2008 20.15 Solar PV Industry, Asia-Pacific Region Deals, July - December, 2008 21 Financial Deals Landscape Page(14)
21.1 Detailed Deal Summary 21.1.1 Merger 21.1.2 Acquisition 21.1.3 Private Equity 21.1.4 Venture Financing 21.1.5 Equity Offerings 21.1.6 Debt Offerings 21.1.7 Partnerships 21.1.8 Asset Transactions 22 Recent Developments 22.1 New Projects 22.1.1 Feb 03, 2009: China To Turn Solar Energy As Major Energy Source By 2050 22.1.2 Jan 19, 2009: MLC to Install 359 kw Solar Array in Massachusetts 22.1.3 Jan 15, 2009: MNRE To Set Up Renewable Energy Company In India 22.1.4 Jan 10, 2009: IREO Announces Inauguration Of 250 kw Shiraz Solar Power Plant, Iran 22.1.5 Jan 07, 2009: Clinton Foundation To Set Up 500 MW Solar Power Plant In Gujarat 22.1.6 Dec 30, 2008: Jamaica To Construct Solar Power Plant 22.1.7 Dec 27, 2008: Iran Establishes First Solar Power Station 22.1.8 Dec 22, 2008: Salt Lake County Plans Solar Installation On 50 County Buildings 22.1.9 Dec 20, 2008: Pakistan Launches Four Power Projects Totalling 382 MW Since July 2008 22.1.10 Dec 08, 2008: Kunming Shilin Starts Construction Of Grid-Connected Solar PV Power Station 22.1.11 Nov 26, 2008: Australia Provides $3.3 Million In Funding For Alice Solar City Project 22.1.12 Nov 25, 2008: Botswana DEA Plans 200 MW Solar Power Station 22.1.13 Nov 05, 2008: MREDA Opens Wind-Solar Hybrid Power Project 22.1.14 Nov 04, 2008: Indian State Of Haryana To Invest INR37.7 Billion On Renewable Energy 22.1.15 Nov 04, 2008: WWF-Pakistan And PCRET Install Solar Power Panels In Sindh 22.2 New Contracts 22.2.1 Jan 27, 2009: enxco Signs 25 Year PPA With Carrier Clinic 22.2.2 Jan 26, 2009: Bullfrog Provides Power To Stores Of MEC 22.2.3 Jan 21, 2009: Refex Sign MoU With Gujarat To Build 50 MW Solar PV Power Plant 22.2.4 Jan 19, 2009: NextLight To Sign Contract With Boulder City To Build 100 MW PV Plant 22.2.5 Jan 14, 2009: Phoenix Solar Extends Agreement With KGAL To Develop PV Plants 22.2.6 Jan 07, 2009: SunEdison Receives Contract From Developers Diversified For Solar Energy System Installation 22.2.7 Dec 22, 2008: Sopogy Signs Agreement With Inypsa And Omniwatt To Develop 50 MW Solar Power Plant In Spain 22.2.8 Dec 18, 2008: Motech Wins Contract From Taipower To Set Up 1 MWp Solar Power System In Taiwan 22.2.9 Dec 11, 2008: Conergy Receives Contract From NSS To Build 2 MW Solar Plant For KAUST 22.2.10 Nov 29, 2008: RIL To Sell Solar Energy To Three Power Companies In Rajasthan 22.2.11 Nov 24, 2008: SonnenEnergy Signs Agreement With ASG To Build And Maintain Solar Parks 22.3 Strategy and Business Planning 22.3.1 Feb 02, 2009: KPCL Receives Approval For 270 MW Hydro Power Project Page(15)
22.3.2 Dec 02, 2008: Atlantic Energy Plans To Construct 50 MW Solar Power Plant 22.3.3 Dec 02, 2008: FPL Starts Construction Of 75 MW Solar Energy Center In Florida 22.3.4 Nov 27, 2008: Refex Partners With IBC Solar For PV Projects In India 22.3.5 Nov 26, 2008: BHEL To Enter Solar Energy Sector With INR30 Billion Investment 22.3.6 Nov 25, 2008: Jindal Steel To Enter Nuclear And Solar Energy Sector In India 22.3.7 Nov 18, 2008: Suzlon Plans To Enter Solar Energy Sector 22.4 Government and Public Interest 22.4.1 Feb 03, 2009: China To Turn Solar Energy As Major Energy Source By 2050 22.4.2 Jan 30, 2009: South Korea To Establish KRW100 Billion Alternative Energy Fund 22.4.3 Jan 22, 2009: Spain, Portugal To Build Iberian Renewable Energy Centre In Badajoz, Spain 22.4.4 Jan 18, 2009: US Allocates Fund For Renewable Energy And Smart Grid 22.4.5 Jan 15, 2009: MNRE To Set Up Renewable Energy Company In India 22.4.6 Jan 13, 2009: China Launches Solar Action Plan 22.4.7 Dec 31, 2008: South Korean MKE To Invest KRW111.5 Trillion For Solar And Wind Power R&D 22.4.8 Dec 26, 2008: California Senator Introduces Solar Power Bill 22.4.9 Dec 17, 2008: Australia Introduces Solar Credits Draft Legislation 22.4.10 Dec 16, 2008: India Plans To Allow Trading Energy Efficiency Credits 22.4.11 Dec 14, 2008: Australia Allocates $500 Million For Clean Power Plants 22.4.12 Nov 28, 2008: Pakistan To Produce 9700 MW From Renewable Energy Source By 2030 22.5 Other Significant Developments 22.5.1 Jan 20, 2009: SFPUC Announces Series Of Solar PV Projects In San Francisco 22.5.2 Jan 07, 2009: FPL Announces Name Change Of Its Subsidiary 22.5.3 Nov 12, 2008: Conergy Sells Thin-film PV Plant To A German Issuing House 22.5.4 Nov 01, 2008: Zlaten To Invest BGN1 Million In Solar Power Plant 23 Appendix 23.1 Methodology 23.1.1 Coverage 23.1.2 Secondary Research 23.1.3 Primary Research 23.1.4 Expert Panel Validation 23.2 Contact Us 23.3 Disclaimer Page(16)
1.1 List of Tables Table 1: Germany, Payment Structure for Different Types of PV Installations, 2004 Table 2: Germany, Feed-in-Tariff, / KWh, 2008-09 Table 3: Spain, Feed-in-Tariffs, / kwh, 2007-08 Table 4: Spain, New Feed-in-Tariff, / kwh, 2009 Table 5: Spain, Tax Rebate, By Year, 2008-10 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, 2007-08 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,, 2006-30 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, 2003-2007 Table 16: Suntech Power Holdings Co., Ltd., Revenue by Geography, USD Absolute, 2003-2007 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, 2003-2007 Table 24: Renewable Energy Corporation ASA, Revenue by Geography, Norwegian Krone Thousand, 2003-2007 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, 2003-2007 Table 31: SolarWorld AG, Revenue by Geography, Euro Thousand, 2003-2007 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, 2003-2007 Table 37: Evergreen Solar, Inc., Revenue by Geography, USD Thousand, 2003-2007 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)
Table 42: Q-Cells AG, SWOT Analysis, 2007 Table 43: Q-Cells AG, Revenue by Segment, Euro Million, 2003-2007 Table 44: Q-Cells AG, Revenue by Geography, Euro Million, 2003-2007 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, 2003-2007 Table 51: SunPower Corporation, Revenue by Geography, USD Thousand, 2003-2007 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, 2003-2007 Table 58: Sunways AG, Revenue by Geography, Euro Thousand, 2003-2007 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, 2003-2007 Table 63: Trina Solar Limited, Revenue by Geography, USD Absolute, 2003-2007 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, 2003-2007 Table 70: Solon AG fuer Solartechnik, Revenue by Geography, Euro Thousand, 2003-2007 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, 2003-2007 Table 78: ersol Solar Energy AG, Revenue by Geography, Euro Thousand, 2003-2007 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)
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 $324.11 Million FPL Group Completes Debt Offering Of $450 Million Shell Completes Senior Notes Offering Of $2,750 Million Tokyo Electric Power Completes $523.88 Million Of Bond Offering The Tokyo Electric Power Company Completes Public Offering Of $310.56 Million RWE Completes Public Offering Of $1,270.01 Million RWE Completes Public Offering Of $1,270.01 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 $489.78 Million The Tokyo Electric Power Company Completes Public Offering Of $552.41 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)
1.2 List of Figures Figure 1: Global, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 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, 2001-20 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, 2001-20 Figure 7: Spain, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 Figure 8: Italy, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 Figure 9: Asia-Pacific, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 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, 2001-20 Figure 12: China, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 Figure 13: Australia, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 Figure 14: North America, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 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, 2001-20 Figure 17: Canada, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 Figure 18: Mexico, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 Figure 19: Central and South America, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 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, 2001-20 Figure 22: Argentina, Cumulative and Annual Solar PV Installed Capacity, MW, 2001-20 Figure 23: Africa, Regional Market Share for Solar PV, 2008 Figure 24: Global, World CO 2 Emissions, Million Metric Tons, 1970-2008 Figure 25: Global, World Projected Energy Demand, Mtoe, 1980-2030 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)
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)
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 2008. 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 2009. 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 2008. 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)
Executive Summary been impacted by the shrinking subsidies and credit crisis. This would have an adverse impact on the annual installations in the year 2009. 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 2020. 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 2016-20 to reach 47 GW by 2020. 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 2001-08. 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 2016-20, to reach total installed capacity of 76 GW by the year end 2020. 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 2008. Solar PV installations in this region are expected to reach the cumulative capacity of 111 MW by 2020. 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)
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)