Global Solar Photovoltaic Module Installed Capacity to More than Treble by 2020, says GlobalData

Global cumulative installed capacity of solar photovoltaic modules will rise from 135.66 Gigawatts (GW) in 2013 to 413.98 GW by 2020 ----Governments in Asia-Pacific ‘promoting solar module manufacturing through various long-term policies, financial incentives, subsidies and tax benefits,' says analyst

LONDON, UK (GlobalData), 25 November 2014 - The global cumulative installed capacity of solar photovoltaic (PV) modules will more than treble from 135.66 Gigawatts (GW) in 2013 to 413.98 GW by 2020, according to research and consulting firm GlobalData.


The company's latest report* states that emerging economies in Asia-Pacific, South and Central America and the Middle East and Africa are expected to be the major markets in the future, due to an increasing focus on renewable energy proliferation to fuel economic growth.

Swati Singh, GlobalData's Analyst covering Power, explains: "Asia-Pacific is home to many developing countries, including India and China, where substantial installations are being made. The region is also a leading area for solar energy systems production, with Japan, China and Taiwan being three of the largest solar PV cell manufacturers in the world.

"Governments in the region are promoting solar module manufacturing through various long-term policies, financial incentives, subsidies and tax benefits. This strong commitment to solar energy development has led to numerous research and development initiatives and increased solar module production and installations, which will drive future market growth."

The analyst adds that Asian companies dominate the global PV device supplies market, with seven Chinese companies currently among the top module manufacturers worldwide.

Last year marked a turning point in the solar PV space, as China, India and Japan accounted for the majority of global annual installations. China's growth was especially remarkable, contributing around 12 GW of the world's 37-GW additions in 2013.

Singh explains: "Prior to 2013, most solar PV installations were in Europe, with Italy, Germany, Spain and France accounting for the majority of global annual installations in 2012.

"Reduced solar PV module prices, combined with European countries' Feed-in Tariff (FiT) subsidies, have supported the widespread growth of small-scale distributed capacity there. However, GlobalData believes that these tariffs are likely to become less generous in subsequent years, with the reduction or removal of incentives having already been proposed and implemented in some of the region's countries."

*Solar PV Module Value Chain – Market Size, Average Price, Market Share and Key Country Analysis to 2020

Featured Product

Vecoplan - Planning and implementation of complete processing plants in refuse derived fuel production

Vecoplan - Planning and implementation of complete processing plants in refuse derived fuel production

In order to reduce the costs involved in the energy-intensive production of cement, many manufacturers are turning to refuse-derived fuels (RDF), considerably reducing the proportion of expensive primary fuels they would normally use. Solid fuels are being increasingly used - these might be used tyres, waste wood or mixtures of plastics, paper, composite materials and textiles. Vecoplan provides operators of cement plants with proven and robust components for conveying the material and separating iron and impurities, efficient receiving stations, storage systems and, of course, efficient shredders for an output in various qualities.