Global PV market set to take off!

INDIA: The global PV industry has been continuously growing at a rapid pace over the recent years. In 2008, the annual global installed PV capacity reached around 5.6 GW, taking the total installed capacity to around 15 GW by the end of 2008.

Various factors including government incentives for solar energy, narrowing cost differentials between solar and conventional sources of energy, increasing environmental concern and emission regulations remain major growth drivers for the PV industry worldwide, says RNCOS's report "Global Photovoltaic Market Forecast to 2013".

The report gives an overview of the market forces that are currently driving the global demand for PV industry. RNCOS has identified that the global PV industry is highly dependent on government initiatives and this shows that the industry is yet to achieve self-sufficiency.

The impact of government initiatives can be easily understood by considering the US market, which lags behind Germany and Japan due to lack of government initiatives.

The report anticipates that the future of PV market will largely depend on government's enforcement of existing or new support mechanisms across the world. Besides this, competition among the major manufacturers is expected to intensify, with new players entering the market as the potential for PV opens up.

This report "Global Photovoltaic Market Forecast to 2013" focuses on the growing marketplace for the PV industry at global as well as at the country level and analyzes the current market trends along with future growth prospects of the industry.

It contains extensive data on cumulative PV capacity, annual installed PV capacity, and the future market potential of the key countries.

The report also features the leading-edge opportunities critical to the success of the PV industry. It will help clients to discover the forces backing the growth of the PV industry, thus enabling them to outline their market strategies accordingly.

From the future perspective, PV market EPIA scenario has been taken into consideration under the set of certain assumptions.