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March 16, 2009
San
Francisco, CA, USA: Solarbuzz Reports World Solar Photovoltaic
Market Grew to 5.95 Gigawatts in 2008
World solar photovoltaic (PV) market installations reached a record
high of 5.95 gigawatts (GW) in 2008, representing growth of 110%
over the previous year, according to the annual PV market report
issued today by Solarbuzz LLC, the San Francisco-based solar energy
consultancy.
Europe
accounted for 82% of world demand in 2008. Spain's 285% growth
pushed Germany into second place in the market ranking, while
the US advanced to number three. Rapid growth in Korea made it
the fourth largest market in 2008, closely followed by Italy and
Japan.
World
solar cell production reached a consolidated figure of 6.85 GW
in 2008, up from 3.44 GW a year earlier. China and Taiwan increased
their share of global solar cell production to 44% in 2008, rising
from 35% in 2007. Meanwhile, thin film production grew 123% to
0.89 GW.
Polysilicon
supply to the solar industry grew by 127% in megawatt terms, sufficient
to substantially ease supply limitations in 2008.
The
PV industry generated $37.1 billion in global revenues in 2008,
while successfully raising over $12.5 billion in equity and debt,
up 11% on the prior year.
"Twelve
months ago, we projected that as early as the fourth quarter of
2008 the PV industry would no longer be constrained by solar module
supply, but instead by market demand," said Craig Stevens, President
of Solarbuzz LLC. "Now, the PV industry will need to navigate
major changes in the regional demand mix, with new markets emerging,
while addressing excess supply positions and significant adjustments
to industry pricing."
This
year's forecast data and outcomes for 2009-2013 are set out in
the new 300+ page Marketbuzz™ 2009 report.
The
PV industry's principal annual report provides in-depth and insightful
analysis of global market demand, supply capacity and production,
pricing through the PV chain, manufacturing costs and gross margins,
capital expenditure together with a focus on the key industry,
corporate and policy challenges.
Further details about: Marketbuzz™
2009 Report
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