The Cumulative installed Solar PV Capacity to hit 330 GW by 2020, this is the outcome of the data released by the Research firm Global Data.
According to them, The Global Solar PV installed capacity will leap frog from the current 96GW to 330GW by 2020 and will showcase a CAGR of 16.5%. According to the Report China will spear head the Solar Revolution by demonstrating a cumulative installation of 70 GW in 2020 from the current installed base of 7.6 GW. The report also looks into the T&D Market which could negatively impact the Solar PV Gowth as the T&D Market will require massive investments of money and time, which could also dramatically decrease PV growth.
Germany will continue it's momentum, but in a Slower rate
Germany, which is the largest supporter of Solar PV, currently
accounts for about 32% of the global solar PV installed capacity in
2012. Also all thanks to the favorable policies from the government the market has ballooned from 2.7 GW in 2006 to a staggering 30.1 GW within just a span of 6 years.
But though there is expected a slow down in PV adoption rate, continuing support though Feed-in-Tariffs (FITs) and
other schemes will see this total reach 48 GW by the end of the decade.
Asian Companies will continue it's domination of the Sector in Long Term
Currently, Asian companies especially Chinese dominate the global PV device supply scenario, with
five Chinese companies among the top ten module manufacturers worldwide. Also the Indian and Japanese Government's are introducing more and more policies to cater the growth of Solar PV sector, which will see a boost in the Domestic Solar Sector in both these countries.
Thin Film Might Loose it's Glare:
The Polysilicon prices are dropping in a dramatic way, and this has lead to a greater adoption of higher-efficiency crystalline silicon modules as the cost is dwindling down and this may impact Thin Film manufacturers in a negative way. But the Thin Film Manufacturers may counter attack by introducing higher efficiency Modules. Recently Solar Frontier has announced that they in joint research with Japan’s New Energy and Industrial
Technology Development Organization (NEDO), have achieved a world
record-breaking energy conversion efficiency of 19.7% for cadmium-free,
thin-film solar cells measuring approx. 0.5 cm2.
