Global PV market forecast to 2013

DUBLIN, IRELAND: Research and Markets has announced the addition of the "Global Photovoltaic Market Forecast to 2013" report to its offering.

The high volatility of oil prices, coupled with increasing concerns over the CO2 emissions worldwide, has led to the evolution of renewable energy concept over the past few years.

Use of solar photovoltaic (PV) among others, has emerged as the most appropriate solutions and has continuously been gaining considerable attention among industry players all across the globe. With the growing demand for clean energy sources, the manufacturing and deployment of solar PV cells and photovoltaic arrays have expanded dramatically in the recent years.

According to our latest research report, "Global Photovoltaic Market Forecast to 2013," the global PV industry has been propelled by the consistent efforts and investment from European countries, followed by Japan and the US. As a result, the cumulative PV installed capacity in Europe surpassed 9 GW in 2008, with Germany and Spain collectively accounting for more than 90 percent of the total capacity as of the end of 2008.

The increasing demand for PV system installations has also led to the rapid development of solar cell manufacturing worldwide. In this regard, countries in the Asia-Pacific region, such as China and Taiwan, have gained significant traction in recent years.

China, for instance, produced over 2 GW of solar cells during 2008, and is forecasted to see a CAGR of more than 50 percent in the next few years. We have also found that traditionally, high cost of deploying PV cells had been the major roadblock for the development of the global PV industry.

However, with the constantly declining cost of PV production, the industry is set to pave the way for the deployment of this technology, mainly in the developing economies.