gdae1087mar-asia-pacific solar pv market outlook … · will witness a stable growth until 2020...

REFERENCE CODE GDAE1087MAR I PUBLICAT ION DATE FEBRUARY 2014

ASIA-PACIFIC SOLAR PHOTOVOLTAIC MARKET OUTLOOK TO 2030 – INSTALLED CAPACITY,

MARKET SIZE, RISK ANALYSIS, MARKET SATURATION AND COMPANY PROFILES

Asia-Pacific Solar Photovoltaic Market Outlook to 2030 – Installed Capacity, Market Size, Risk Analysis, Market Saturation and Company Profiles 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.

ASIA-PACIFIC SOLAR PHOTOVOLTAIC MARKET OUTLOOK TO 2030 – INSTALLED CAPACITY, MARKET SIZE, RISK ANALYSIS,

MARKET SATURATION AND COMPANY PROFILES

Executive Summary

Global Solar Photovoltaic Installed Capacity will Witness a Stable Growth until 2020

Solar module installations witnessed immense

growth during the 2006–2013 period, with a Year-

on-Year (Y-o-Y) growth rate in cumulative capacity

of more than XX% each year from 2008 to 2013.

The annual installations increased from XX GW

(Gigawatts) in 2006 to an estimated XX GW in

2013, due to increasing economies of scale,

emerging technologies, and policy-based

governmental and institutional support for the

industry. The annual installations in 2012 were

marginally lower compared to the annual

installations in the preceding year, as the industry

started to adjust away from the initial spur of

growth, and also due to the reduction and/or

elimination of support from a few governments of

key geographies for the industry. In 2013, there

were increases in global annual installations driven

by China and Japan. Annual installations of a total

XX GW took place in 2013, which is around XX%

of the annual installations in 2012. For the 2013–

2025 period, annual installations are set to stabilize

within the range of XX GW and XX GW.

The following figure shows the annual and

cumulative capacity of the solar modules installed

globally for the 2006–2013 period, and the forecast

installations for the 2013–2025 period.

Solar Photovoltaic Module Market, Global, Installed Capacity (GW), 2006–2025

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Y-o-

Y g

row

th ra

te (%

)

Inst

alle

d ca

paci

ty (G

W)

Annual installed capacity Cumulative installed capacity Y-o-Y growth rate Source: GlobalData; Alternative Energy eTrack [Accessed on December 31, 2013]

Asia-Pacific Region is the Hub for Global Solar Photovoltaic Market

Asia-Pacific is home to many developing countries,

including China and India, where there is

considerable growth in solar Photovoltaic (PV)

installations. Japan and Australia are other major

solar PV installations markets in the region. The

region is also the global center for the manufacture

of solar energy system, with Japan, China and

Taiwan being the major manufacturers and home

to some of the top global solar PV supplier

companies.




Table of Contents

1 Table of Contents

1 Table of Contents ....................................................................................................................... 4

1.1 List of Tables ..................................................................................................................... 13

1.2 List of Figures .................................................................................................................... 18

2 Introduction ............................................................................................................................... 21

2.1 Solar Photovoltaic Technology .......................................................................................... 21

2.2 Types of Solar Modules ..................................................................................................... 21

2.2.1 Crystalline Silicon Modules ............................................................................................. 21

2.2.2 Thin-Film Technology ..................................................................................................... 22

2.2.3 New Emerging Solar Photovoltaic Technology ............................................................... 23

2.3 Report Guidance ............................................................................................................... 24

3 Solar Photovoltaic Market Outlook, Global ................................................................................ 25

3.1 Solar Photovoltaic Market, Global, Overview ..................................................................... 25

3.2 Solar Photovoltaic Market, Global, Installed Capacity, 2010–2030 .................................... 26

3.2.1 Solar Photovoltaic Market, Global, Share of Major Countries, 2013–2025 ...................... 28

3.2.2 Solar Photovoltaic Market, Global, End-User Segmentation, 2012–2017 ........................ 30

3.2.3 Solar Photovoltaic Market, Global, Segmentation by Grid Connection, 2012–2017 ........ 31

3.3 Solar Photovoltaic Market, Global, Power Generation, 2010–2030 .................................... 32

3.4 Solar Photovoltaic Market, Global, Average Installation Price, 2010–2015 ........................ 36

3.5 Solar Photovoltaic Module Market, Global, Module Price, 2010–2015 ............................... 37

3.6 Solar Photovoltaic Module Market, Global, Module Market Size, 2010–2015 .................... 39

3.7 Solar Photovoltaic Module Market, Global, Production Share of Major Module

Manufacturers, 2012 and 2013 .......................................................................................... 40




Table of Contents

3.8 Solar Photovoltaic Module Market, Upcoming Technologies.............................................. 45

3.8.1 Rise of Hybrid Offerings in Solar Industry ....................................................................... 45

3.8.2 Hybrid Benefits – Reliability and Efficiency at Least Cost................................................ 46

3.8.3 Concentrated Photovoltaic Technology – A Strong Competitor of Solar Photovoltaic ..... 46

3.8.4 Energy Storage Systems ................................................................................................ 50

4 Solar Photovoltaic Market Outlook, Asia-Pacific, 2010–2030 .................................................... 54

4.1 Solar Photovoltaic Market, Asia-Pacific, Overview ............................................................. 54

4.2 Solar Photovoltaic Market, Asia-Pacific, Installed Capacity, 2010–2030 ............................ 54

4.2.1 Solar Photovoltaic Market, Asia-Pacific, Share of Major Countries, 2013–2025 .............. 57

4.2.2 Solar Photovoltaic Market, Asia-Pacific, End-user Segmentation, 2012–2017 ................ 58

4.2.3 Solar Photovoltaic Market, Asia-Pacific, Segmentation by Grid Connection, 2012–2017 60

4.3 Solar Photovoltaic Market, Asia-Pacific, Power Generation, 2010–2030............................ 62

4.4 Solar Photovoltaic Market, Asia-Pacific, Average Installation Price, 2010–2015 ................ 64

4.5 Solar Photovoltaic Module Market, Asia-Pacific, Module Price, 2010–2015 ....................... 66

4.6 Solar Photovoltaic Module Market, Asia-Pacific, Module Market Size, 2010–2015 ............ 68

4.7 Solar Photovoltaic Market, Asia-Pacific, Regulation and Policies Impacting the Market,

2013 .................................................................................................................................. 69

5 Solar Photovoltaic Market Outlook, China, 2010–2030 ............................................................. 75

5.1 Solar Photovoltaic Market, China, Overview ...................................................................... 75

5.2 Solar Photovoltaic Market, China, Installed Capacity, 2010–2030 ..................................... 76

5.2.1 Solar Photovoltaic Market Outlook, China, Outlook of Major Provinces, 2011 ................. 78

5.2.2 Solar Photovoltaic Market, China, End-user Segmentation, 2012–2017 ......................... 83

5.2.3 Solar Photovoltaic Market, China, Segmentation by Grid Connection, 2012–2017 ......... 84




Table of Contents

5.3 Solar Photovoltaic Market, China, Power Generation, 2010–2030 ..................................... 86

5.4 Solar Photovoltaic Market, China, Average Installation Price, 2010–2015 ......................... 88

5.5 Solar Photovoltaic Module Market, China, Module Price, 2010–2015 ................................ 90

5.6 Solar Photovoltaic Module Market, China, Module Market Size, 2010–2015 ..................... 91

5.7 Solar Photovoltaic Module Market, China, Production Share of Major Module

Manufacturers, 2012 and 2013 .......................................................................................... 93

5.8 Solar Photovoltaic Market, China, Regulation and Policies Impacting the Market, 2013 .... 97

5.8.1 Policies Exceeding Chinese Solar Industry Expectations ................................................ 98

5.8.2 Renewable Energy Law ................................................................................................ 100

5.8.3 International Science and Technology Cooperation Program for New and Renewable

Energy......................................................................................................................... 104

5.8.4 Medium and Long-term Development Plan for Renewable Energy ............................... 105

5.8.5 The 12th Five-year Plan ................................................................................................. 105

5.8.6 New Carbon Intensity Target ........................................................................................ 106

5.8.7 Golden Sun Program .................................................................................................... 106

5.8.8 The Building-Integrated Photovoltaic Subsidy Program ................................................ 107

5.8.9 Feed-in Tariff for Solar Projects .................................................................................... 108

5.8.10 Solar Photovoltaic Bidding Program.............................................................................. 108

5.8.11 Subsidies for Solar Photovoltaic in Rural Areas ............................................................ 108

5.8.12 R&D Support for Solar Photovoltaic .............................................................................. 109

5.8.13 Shandong Province Energy Fund ................................................................................. 110

5.8.14 Shandong Provinces Sunshine Plan ............................................................................. 110

6 Solar Photovoltaic Market Outlook, Japan, 2010–2030 ........................................................... 111




Table of Contents

6.1 Solar Photovoltaic Market, Japan, Overview .................................................................... 111

6.2 Solar Photovoltaic Market, Japan, Installed Capacity, 2010–2030 ................................... 112

6.2.1 Solar Photovoltaic Market, Japan, End-user Segmentation, 2012–2017 ....................... 114

6.2.2 Solar Photovoltaic Market, Japan, Segmentation by Grid Connection, 2012–2017 ....... 115

6.3 Solar Photovoltaic Market, Japan, Power Generation, 2010–2030 .................................. 117

6.4 Solar Photovoltaic Market, Japan, Average Installation Price, 2010–2015 ....................... 119

6.5 Solar Photovoltaic Module Market, Japan, Module Price, 2010–2015 .............................. 121

6.6 Solar Photovoltaic Module Market, Japan, Module Market Size, 2010–2015 ................... 122

6.7 Solar Photovoltaic Module Market, Japan, Production Share of Major Module

Manufacturers, 2012 and 2013 ........................................................................................ 123

6.8 Solar Photovoltaic Market, Japan, Regulation and Policies Impacting the Market, 2013 .. 126

6.8.1 Renewables Portfolio Standard System ........................................................................ 126

6.8.2 Feed-in Tariffs for Renewable Energy........................................................................... 128

6.8.3 Support for Deployment of New and Renewable Energy .............................................. 129

6.8.4 New Renewable Energy Target .................................................................................... 130

6.8.5 New 2010 Renewable Energy Targets .......................................................................... 130

6.8.6 Solar Power in Government Office Buildings ................................................................ 130

6.8.7 Subsidy for Residential Photovoltaic Systems .............................................................. 131

6.8.8 New Purchase System for Solar Power Generated Electricity....................................... 131

6.8.9 Fiscal and Tax Incentives for Solar Photovoltaic Generation ........................................ 131

6.8.10 Local Government Initiatives ......................................................................................... 132

7 Solar Photovoltaic Market Outlook, South Korea, 2010–2030 ................................................. 133

7.1 Solar Photovoltaic Market, South Korea, Overview .......................................................... 133




Table of Contents

7.2 Solar Photovoltaic Market, South Korea, Installed Capacity, 2010–2030 ......................... 134

7.2.1 Solar Photovoltaic Market, South Korea, End-user Market Shares, 2012–2017 ............ 135

7.2.2 Solar Photovoltaic Market, South Korea, Segmentation by Grid Connection, 2012–2017

.................................................................................................................................... 137

7.3 Solar Photovoltaic Market, South Korea, Power Generation, 2010–2030 ........................ 139

7.4 Solar Photovoltaic Market, South Korea, Average Installation Price, 2010–2015 ............. 141

7.5 Solar Photovoltaic Module Market, South Korea, Module Price, 2010–2015 .................... 143

7.6 Solar Photovoltaic Module Market, South Korea, Module Market Size, 2010–2015 ......... 144

7.7 Solar Photovoltaic Module Market, South Korea, Production Share of Major Module

Manufacturers, 2012 and 2013 ........................................................................................ 146

7.8 Solar Photovoltaic Market, South Korea, Regulation and Policies Impacting the Market,

2013 ................................................................................................................................ 148

7.8.1 National Energy Plan 2008–2030 ................................................................................. 148

7.8.2 One Million Green Homes Program .............................................................................. 148

7.8.3 Feed-in Tariff Program .................................................................................................. 148

7.8.4 Renewable Portfolio Standards..................................................................................... 150

8 Competitiveness of Solar Photovoltaic against Other Power Sources ..................................... 151

8.1 Renewable Power Market, Global, LCOE Comparison of Power-Generating Sources, 2013 .

..................................................................................................................................... 151

8.2 Solar Photovoltaic vs. Emerging Fuel Sources ................................................................ 153

8.2.1 Shale Gas in the US ..................................................................................................... 153

8.2.2 Shale Gas in China ....................................................................................................... 156

8.3 Global Solar Photovoltaic Market and Effect of Oil Price .................................................. 157

8.4 Nuclear Zero and Possible Solar Growth ......................................................................... 158




Table of Contents

8.4.1 US Market..................................................................................................................... 159

8.4.2 France, No Nuclear Zero .............................................................................................. 160

8.4.3 Germany ....................................................................................................................... 160

8.4.4 Government Subsidies ................................................................................................. 163

8.5 Cost Competition, c-Si Panel Dumping ............................................................................ 164

8.6 Solar Photovoltaic Market, US, Dumping and Anti-dumping ............................................ 166

8.7 Europe, Dumping and Anti-dumping ................................................................................ 168

8.8 Other Countries, Dumping and Anti-dumping .................................................................. 170

9 Solar Photovoltaic – Risk Analysis .......................................................................................... 171

9.1 Solar Photovoltaic Module Performance – 20-Year Warranty .......................................... 171

9.2 Solar Photovoltaic Module Performance Directly Impacts Project Cash Flow .................. 171

9.3 Key Players Offering Limited Warranties to Create Demand and Gain Creditability ......... 171

9.4 Thin-Film has a Higher Performance Risk ....................................................................... 172

9.5 Solar Photovoltaic Module Performance has a Historically Proven Record ...................... 172

9.6 Established Players and Developed Markets have Lower Performance Risk ................... 173

9.7 Fine Print is Important Even if the Product is under Warranty .......................................... 173

10 Solar Photovoltaic Market Saturation ...................................................................................... 174

10.1 Saturation for Solar Sub-technology ................................................................................ 174

10.1.1 Solar Module Price Saturation ...................................................................................... 174

10.1.2 Solar Module Efficiency Saturation ............................................................................... 176

10.1.3 Solar Module Efficiency-to-Price Ratio .......................................................................... 176

10.2 Saturation in Key Solar Photovoltaic Market .................................................................... 177

10.2.1 Europe .......................................................................................................................... 177




Table of Contents

10.2.2 Americas ...................................................................................................................... 177

10.2.3 Asia-Pacific ................................................................................................................... 178

10.2.4 Middle East and Africa .................................................................................................. 178

10.3 Is the Photovoltaic Market Sustainable? .......................................................................... 180

10.3.1 Commercial and Eco-sustainability of Solar Photovoltaic Market .................................. 180

11 Solar Photovoltaic Market Outlook, Company Profiles ............................................................ 182

11.1 Hanergy Holding Group Ltd, Company Review................................................................ 182

11.1.1 Company Overview ...................................................................................................... 182

11.1.2 Hanergy Holding Group Ltd, Solar Business ................................................................. 182

11.1.3 Hanergy Holding Group Ltd, Business Strategy ............................................................ 184

11.2 Yingli Green Energy Holding Company Limited ............................................................... 185


11.2.2 Yingli Green Energy Holding Company Limited, Business Description ......................... 185

11.2.3 Yingli Green Energy Holding Company Limited – Corporate Strategy........................... 187

11.3 Solar Frontier KK, Company Profile ................................................................................. 188


11.3.2 Solar Frontier KK, Business Description ....................................................................... 188

11.3.3 Solar Frontier KK, Corporate Strategy .......................................................................... 190

11.4 TSMC Solar Ltd, Company Review ................................................................................. 190


11.4.2 TSMC Solar Ltd, Corporate Strategy ............................................................................ 191

11.5 Hanwha Q Cells GmbH, Company Review ...................................................................... 191





Table of Contents

11.5.2 Hanwha Q Cells GmbH, Solar Business ....................................................................... 191

11.5.3 Hanwha Q Cells GmbH, Business Strategy .................................................................. 193

11.6 Avancis GmbH & Co. KG, Company Profile ..................................................................... 193


11.6.2 Avancis GmbH & Co. KG, Solar Business .................................................................... 194

11.6.3 Avancis GmbH & Co. KG, Business Strategy ............................................................... 195

11.7 Ascent Solar Technologies Inc., Company Review .......................................................... 196


11.7.2 Ascent Solar Technologies Inc., Solar Business ........................................................... 196

11.7.3 Ascent Solar Technologies Inc., Business Strategy ...................................................... 197

11.8 First Solar Inc., Company Review .................................................................................... 197


11.8.2 First Solar Inc., Solar Business ..................................................................................... 197

11.8.3 First Solar Inc., Business Strategy ................................................................................ 200

11.9 Sharp Corporation, Company Review .............................................................................. 202


11.9.2 Sharp Corporation – Solar Business ............................................................................. 202

11.9.3 Sharp Corporation, Business Strategy .......................................................................... 203

12 Appendix................................................................................................................................. 204

12.1 Abbreviations ................................................................................................................... 204

12.2 Bibliography ..................................................................................................................... 206

12.3 Market Definitions ............................................................................................................ 208

12.4 Methodology .................................................................................................................... 208




Table of Contents

12.4.1 Coverage ...................................................................................................................... 209

12.4.2 Secondary Research .................................................................................................... 209

12.4.3 Primary Research ......................................................................................................... 210

12.4.4 Assumptions ................................................................................................................. 210

12.5 Disclaimer........................................................................................................................ 211




Table of Contents

1.1 List of Tables

Table 1: Solar Photovoltaic Market, Global, Installed Capacity, 2010–2030 .................................................. 28

Table 2: Solar Photovoltaic Market, Global, Share of Major Countries (%), 2013–2025 ................................ 29

Table 3: Solar Photovoltaic Market, Global, End-User Segmentation (%), 2012–2017 .................................. 30

Table 4: Solar Photovoltaic Market, Global, End-User Segmentation (GW), 2012–2017 ............................... 31

Table 5: Solar Photovoltaic Market, Global, Segmentation by Grid Connection (%), 2012–2017 ................... 32

Table 6: Solar Photovoltaic Market, Global, Power Generation (TWh), 2010–2030....................................... 34

Table 7: Solar Photovoltaic Market, Global, Share and Growth Rate of Power Generation, 2010–2025 ........ 35

Table 8: Solar Photovoltaic Market, Global, Average Installation Price ($/W), 2010–2015 ............................ 37

Table 9: Solar Photovoltaic Market, Global, Average Module Price ($/W), 2010–2015.................................. 38

Table 10: Solar Photovoltaic Market, Global, Module Market Size, 2010–2015 ............................................... 40

Table 11: Solar Photovoltaic Module Market, Global, Production Share of Major Crystalline Module

Manufacturers (%), 2012 and 2013 ................................................................................................ 42

Table 12: Solar Photovoltaic Module Market, Global, Production Share of Major Thin-Film Module


Table 13: Solar Photovoltaic Module Market, Global, Production of Major Solar Photovoltaic Module

Manufacturers (GW), 2012 ............................................................................................................. 44

Table 14: Solar Photovoltaic Module Market, Hybrid Offerings, 1998–2007 .................................................... 45

Table 15: High Concentrated Photovoltaic, Global, Efficiency (%), 2006–2020 ............................................... 50

Table 16: Energy Storage Technologies, Power Subsystem Cost and Efficiency (%), 2013 ............................ 52

Table 17: Subsystem Cost, Power Vs. Energy Storage, 2013 ........................................................................ 53

Table 18: Solar Photovoltaic Market, Asia-Pacific, Installed Capacity, 2010–2030 .......................................... 56

Table 19: Solar Photovoltaic Market, Asia-Pacific, Shares of Major Countries (%), 2013–2025 ...................... 58

Table 20: Solar Photovoltaic Market, Asia-Pacific, End-user Share (%), 2012–2017 ...................................... 59

Table 21: Solar Photovoltaic Market, Asia-Pacific, End-user Share (GW), 2012–2017 ................................... 60




Table of Contents

Table 22: Solar Photovoltaic Market, Asia-Pacific, Share by Grid Connection (%), 2012–2017 ....................... 61

Table 23: Solar Photovoltaic Market, Asia-Pacific, Power Generation (TWh), 2010–2030 .............................. 63

Table 24: Solar Photovoltaic Market, Asia-Pacific, Share and Growth Rate of Power Generation, 2010–2025 64

Table 25: Solar Photovoltaic Market, Asia-Pacific, Average Installation Price by Country ($/W), 2010–2015 .. 65

Table 26: Solar Photovoltaic Market, Asia-Pacific, Average Installation Price ($/W), 2010–2015 .................... 66

Table 27: Solar Photovoltaic Market, Asia-Pacific, Average Module Price ($/W), 2010–2015 ......................... 67

Table 28: Solar Photovoltaic Market, Asia-Pacific, Module Market Size by Country ($bn), 2010–2015............ 69

Table 29: Solar Photovoltaic Market, Asia-Pacific, Module Market Size, 2010–2015 ...................................... 69

Table 30: Renewable Energy Policy Framework, Asia-Pacific, Renewable Energy Policy Instruments by

Country .......................................................................................................................................... 70

Table 31: Renewable Energy Policy Framework, Asia-Pacific, Feed-in Tariff for Promoting Renewable Energy

Sources by Country ....................................................................................................................... 72

Table 32: Renewable Energy Policy Framework, Asia-Pacific, Targets for Addition of Various Renewable

Energy Technology by Country ...................................................................................................... 73

Table 33: Solar Photovoltaic Market, China, Installed Capacity, 2010–2030 ................................................... 78

Table 34: SolarPhotovoltaic Market, China, Annual Capacity of Utility-scale Projects (MW), 2011 .................. 79

Table 35: Solar Photovoltaic Market, Expected Capacity Addition (MW), 2013 ............................................... 81

Table 36: Solar Photovoltaic Market, Annual Targets by Province (MW), 2014 ............................................... 82

Table 37: Solar Photovoltaic Market, China, End-user Share (%), 2012–2017 ............................................... 84

Table 38: Solar Photovoltaic Market, China, End-user Share (MW), 2012–2017 ............................................ 84

Table 39: Solar Photovoltaic Market, China, Segmentation by Grid Connection (%), 2012–2017.................... 85

Table 40: Solar Photovoltaic Market, China, Power Generation (TWh), 2010–2030 ....................................... 87

Table 41: Solar Photovoltaic Market, China, Share and Growth Rate of Power Generation, 2010–2025 ......... 88

Table 42: Solar Photovoltaic Market, China, Average Installation Price ($/W), 2010–2015 ............................. 89

Table 43: Solar Photovoltaic Market, China, Average Module Price ($/W), 2010–2015 .................................. 91




Table of Contents

Table 44: Solar Photovoltaic Market, China, Module Market Size ($bn), 2010–2015 ...................................... 92

Table 45: Solar Photovoltaic Module Market, China, Production Share of Major Crystalline Module


Table 46: Solar Photovoltaic Module Market, China, Production Share of Major Thin-film Module


Table 47: Solar Photovoltaic Module Market, China, Production of Major Solar Photovoltaic Module

Manufacturer (MW), 2012 .............................................................................................................. 97

Table 48: Solar Photovoltaic Project Subsidies ($/kWh) ................................................................................. 99

Table 49: Renewable Energy Law, China, Major Regulations....................................................................... 101

Table 50: Renewable Energy Targets, China, 2015 and 2020 ...................................................................... 102

Table 51: Solar Photovoltaic Market, Japan, Installed Capacity, 2010–2030 ................................................ 113

Table 52: Solar Photovoltaic Market, Japan, End-user Segmentation (%), 2012–2017 ................................. 115

Table 53: Solar Photovoltaic Market, Japan, End-user Segmentation (MW), 2012–2017 .............................. 115

Table 54: Solar Photovoltaic Market, Japan, Segmentation by Grid Connection (%), 2012–2017 ................. 116

Table 55: Solar Photovoltaic Market, Japan, Power Generation (TWh), 2010–2030 ..................................... 118

Table 56: Solar Photovoltaic Market, Japan, Share and Growth Rate of Power Generation, 2010–2025 ...... 119

Table 57: Solar Photovoltaic Market, Japan, Average Installation Price ($/W), 2010–2015 ........................... 120

Table 58: Solar Photovoltaic Market, Japan, Average Module Price ($/W), 2010–2015 ................................ 122

Table 59: Solar Photovoltaic Market, Japan, Module Market Size ($bn), 2010–2015 .................................... 123

Table 60: Solar Photovoltaic Module Market, Japan, Production Share of Major Crystalline Module

Manufacturers (%), 2012 and 2013 .............................................................................................. 124

Table 61: Solar Photovoltaic Module Market, Japan, Production Share of Major Thin-film Module


Table 62: Solar Photovoltaic Module Market, Japan, Production of Major Solar Photovoltaic Module

Manufacturers (MW), 2012 ........................................................................................................... 126

Table 63: Utilization Targets for New Energy, Japan, Target Capacity (TWh), 2003–2014............................ 127




Table of Contents

Table 64: Solar Photovoltaic Market, South Korea, Installed Capacity (GW), 2010–2030 ............................. 135

Table 65: Solar Photovoltaic Market, South Korea, End-user Market Shares, 2012–2017 ............................ 136

Table 66: Solar Photovoltaic Market, South Korea, End-user Production (MW), 2012–2017 ......................... 137

Table 67: Solar Photovoltaic Market, Republic of Korea, Share by Grid Connection (%), 2012–2017 ........... 138

Table 68: Solar Photovoltaic Market, South Korea, Power Generation (TWh), 2010–2030 ........................... 140

Table 69: Solar Photovoltaic Market, South Korea, Share and Growth Rate of Power Generation, 2010–2025

.................................................................................................................................................... 141

Table 70: Solar Photovoltaic Market, South Korea, Average Installation Price ($/W), 2010–2015 ................. 142

Table 71: Solar Photovoltaic Market, South Korea, Average Module Price ($/W), 2010–2015 ...................... 144

Table 72: Solar Photovoltaic Market, Republic of Korea, Module Market Size ($m), 2010–2015 ................... 145

Table 73: Solar Photovoltaic Module Market, South Korea, Production Share of Major Crystalline Module


Table 74: Solar Photovoltaic Module Market, South Korea, Production of Major Solar Photovoltaic Module

Manufacturer (MW), 2012 ............................................................................................................ 147

Table 75: Solar Photovoltaic Feed-in Tariff, South Korea, KRW/kWh, 2010–2011 ........................................ 149

Table 76: Renewable Portfolio Standards, South Korea, Targets (%), 2012–2022 ....................................... 150

Table 77: Renewable Power Market, Global, Levelized Cost of Energy of Power-Generating Sources, 2013 151

Table 78: Renewable Power Market, Global, Levelized Cost of Energy of Power-Generating Sources ($/kWh),

2013 ............................................................................................................................................ 153

Table 79: Nuclear Power Market, Germany, Plants Scheduled to Shut Down (GW), 2015–2022 .................. 162

Table 80: Solar Photovoltaic Market, US, Bankrupt and Acquired Solar Photovoltaic Companies, 2009–2012

.................................................................................................................................................... 167

Table 81: Solar Photovoltaic Market, Europe, Bankrupt and Acquired Solar Photovoltaic Companies, 2009–

2012 ............................................................................................................................................ 169

Table 82: Solar Photovoltaic Market, Price Saturation by Sub-technology ($/W), 2013–2018 ....................... 175

Table 83: Solar Photovoltaic Market, Market Share by Technology (%), 2013–2030 ..................................... 177




Table of Contents

Table 84: Solar Photovoltaic Market, Market Saturation by Region (MW), 2010–2030 .................................. 179

Table 85: Hanergy Holding Group Ltd, Business Strategy ............................................................................ 184

Table 86: Yingli Green Energy Holding Company Limited, Corporate Strategy ............................................. 187

Table 87: Solar Frontier KK, Corporate Strategy .......................................................................................... 190

Table 88: TSMC Solar Ltd, Corporate Strategy ............................................................................................ 191

Table 89: Hanwha Q Cells GmbH, Business Strategy .................................................................................. 193

Table 90: Avancis GmbH & Co. KG, Business Strategy ............................................................................... 195

Table 91: Ascent Solar Technologies Inc., Business Strategy ...................................................................... 197

Table 92: First Solar Inc., Business Strategy ................................................................................................ 200

Table 93: Sharp Corporation, Business Strategy .......................................................................................... 203

Table 94: Abbreviations ............................................................................................................................... 204




Table of Contents

1.2 List of Figures

Figure 1: Solar Photovoltaic Market, Global, Installed Capacity and Year-on-Year Growth, 2010–2030 ....... 27

Figure 2: Solar Photovoltaic Market, Global, Share of Major Countries (%), 2013–2025 ............................... 29

Figure 3: Solar Photovoltaic Market, Global, End-User Segmentation (%), 2012–2017 ................................ 30

Figure 4: Solar Photovoltaic Market, Global, Segmentation by Grid Connection (%), 2012–2017 ................. 31

Figure 5: Solar Photovoltaic Market, Global, Power Generation (TWh), 2010–2030 ..................................... 33

Figure 6: Solar Photovoltaic Market, Global, Average Installation Price ($/W), 2010–2015 ........................... 36

Figure 7: Solar Photovoltaic Market, Global, Module Price ($/W), 2010–2015 .............................................. 38

Figure 8: Solar Photovoltaic Market, Global, Module Market Size ($bn), 2010–2015 .................................... 39

Figure 9: Solar Photovoltaic Module Market, Global, Production Share of Major Crystalline Module

Manufacturers (%), 2012 and 2013 ............................................................................................... 41

Figure 10: Solar Photovoltaic Module Market, Global, Production Share of Major Thin-Film Module


Figure 11: High Concentrated Photovoltaic, Global, System Efficiency (%), 2006–2020 ................................. 49

Figure 12: Energy Storage Technologies, Power Subsystem Cost and Efficiency (%), 2013........................... 51

Figure 13: Solar Photovoltaic Market, Asia-Pacific, Installed Capacity, 2010–2030 ......................................... 55

Figure 14: Solar Photovoltaic Market, Asia-Pacific, Share of Major Countries (%), 2013–2025 ....................... 57

Figure 15: Solar Photovoltaic Market, Asia-Pacific, End-user Share (%), 2012–2017 ..................................... 59

Figure 16: Solar Photovoltaic Market, Asia-Pacific, Share by Grid Connection (%), 2012–2017 ...................... 61

Figure 17: Solar Photovoltaic Market, Asia-Pacific, Power Generation (TWh), 2010–2030 ............................. 62

Figure 18: Solar Photovoltaic Market, Asia-Pacific, Average Installation Price ($/W), 2010–2015 ................... 65

Figure 19: Solar Photovoltaic Market, Asia-Pacific, Average Module Price ($/W), 2010–2015......................... 67

Figure 20: Solar Photovoltaic Market, Asia-Pacific, Module Market Size ($bn), 2010–2015 ............................ 68

Figure 21: Solar Photovoltaic Market, China, Installed Capacity (GW), 2010–2030 ........................................ 77

Figure 22: SolarPhotovoltaic Market, China, Annual Capacity of Utility-scale Projects (MW), 2011 ................. 79




Table of Contents

Figure 23: Solar Photovoltaic Market, China, Expected Capacity Addition (MW), 2013 ................................... 80

Figure 24: Solar Photovoltaic Market, China, Annual Target by Province (MW), 2014 .................................... 82

Figure 25: Solar Photovoltaic Market, China, End-user Share (%), 2012–2017 .............................................. 83

Figure 26: Solar Photovoltaic Market, China, Segmentation by Grid Connection (%), 2012–2017 ................... 85

Figure 27: Solar Photovoltaic Market, China, Power Generation (TWh), 2010–2030 ....................................... 86

Figure 28: Solar Photovoltaic Market, China, Average Installation Price ($/W), 2010–2015 ............................ 89

Figure 29: Solar Photovoltaic Market, China, Average Module Price ($/W), 2010–2015.................................. 90

Figure 30: Solar Photovoltaic Market, China, Module Market Size ($bn), 2010–2015 ..................................... 92

Figure 31: Solar Photovoltaic Module Market, China, Production Share of Major Crystalline Module


Figure 32: Solar Photovoltaic Module Market, China, Production Share of Major Thin-film Module


Figure 33: Solar Photovoltaic Market, Japan, Installed Capacity (GW), 2010–2030 ...................................... 112

Figure 34: Solar Photovoltaic Market, Japan, End-user Segmentation (%), 2012–2017 ................................ 114

Figure 35: Solar Photovoltaic Market, Japan, Segmentation by Grid Connection (%), 2012–2017 ................ 116

Figure 36: Solar Photovoltaic Market, Japan, Power Generation (TWh), 2010–2030 .................................... 117

Figure 37: Solar Photovoltaic Market, Japan, Average Installation Price ($/W), 2010–2015 .......................... 120

Figure 38: Solar Photovoltaic Market, Japan, Average Module Price ($/W), 2010–2015 ............................... 121

Figure 39: Solar Photovoltaic Market, Japan, Module Market Size ($bn), 2010–2015 ................................... 122

Figure 40: Solar Photovoltaic Module Market, Japan, Production Share of Major Crystalline Module

Manufacturers (%), 2012 and 2013 ............................................................................................. 124

Figure 41: Solar Photovoltaic Module Market, Japan, Production Share of Major Thin-film Module


Figure 42: Utilization Targets for New Energy, Japan, Target Capacity (TWh), 2003–2014 .......................... 127

Figure 43: Solar Photovoltaic Market, South Korea, Installed Capacity (GW), 2010–2030 ............................ 134




Table of Contents

Figure 44: Solar Photovoltaic Market, South Korea, End-user Market Share (%), 2012–2017 ....................... 136

Figure 45: Solar Photovoltaic Market, South Korea, Share by Grid Connection (%), 2012–2017 ................... 138

Figure 46: Solar Photovoltaic Market, South Korea, Power Generation (TWh), 2010–2030 .......................... 139

Figure 47: Solar Photovoltaic Market, South Korea, Average Installation Price ($/W), 2010–2015 ................ 142

Figure 48: Solar Photovoltaic Market, South Korea, Average Module Price ($/W), 2010–2015 ..................... 143

Figure 49: Solar Photovoltaic Market, South Korea, Module Market Size ($m), 2010–2015 .......................... 145

Figure 50: Solar Photovoltaic Module Market, South Korea, Production Share of Major Crystalline Module


Figure 51: Renewable Power Market, Global, Levelized Cost of Energy of Power-Generating Sources ($/kWh),

2013 ........................................................................................................................................... 152

Figure 52: Shale Gas Market, US, Shale Gas Price ($/mmBtu), 2010–2030 ................................................. 154

Figure 53: Power Generation Market, US, Capacity Addition (GW), 1930–2012 ........................................... 155

Figure 54: Oil Market, Global, Price Projection ($/bbl), 2012–2030 ............................................................... 158

Figure 55: Nuclear Power Market, Germany, Nuclear Decommissioning Rate (GW), 2011–2022 ................. 162

Figure 56: Annual Solar Photovoltaic Market, Global, Government Policy Support’s Impact on Capacity

Addition (GW), 2005–2017 ......................................................................................................... 164

Figure 57: Solar Photovoltaic Market, Module Prices ($/W), 2009–2013 ....................................................... 165

Figure 58: Solar Photovoltaic Market, Price Saturation by Sub-technology ($/W), 2013–2018 ...................... 176




Introduction

2 Introduction

2.1 Solar Photovoltaic Technology

Solar Photovoltaic (PV) technologies convert the energy that is stored in sunlight into electrical

energy. The electrical energy is then supplied either to the electric grid or to the consumer directly.

The conversion is done by photosensitive semiconducting material, which is assembled in the form

of modules, usually referred to as solar PV modules or just solar modules. Since a single module

will produce only a few hundred Watts (W) of electricity, multiple PV modules are usually

connected to form a PV array that can produce greater output. Direct Current (DC) produced from

PV arrays can be used to power equipment and recharge batteries. In order to be grid-connected,

DC needs to be converted into Alternating Current (AC), using specifically designed inverters. A PV

array can be installed on the roof of a building, on the ground, as a building facade, or integrated

into the building itself.

2.2 Types of Solar Modules

2.2.1 Crystalline Silicon Modules

The crystalline Silicon (c-Si) cell was the first generation of PV technology, made from a single

crystal or a poly-crystalline wafer of silicon. c-Si cells are combined to form a c-Si solar module.

Mono-crystalline silicon cells have a uniform structure and an average wafer thickness of about XX

inches (in) (300 millimeters (mm)). These cells are made from a single silicon crystal and are

therefore uniform in color, ranging from dark blue to black. Mono-crystalline cells are the most

efficient solar PV cells, with a high-energy conversion efficiency varying from XX% to XX%.

Poly-crystalline PV cells are of an average wafer thickness of XX–XXin (XX–XXmm) and contain

small crystals arranged in various directions. This type of solar cell is blue in color and lighter than

mono-crystalline cells. Poly-crystalline PV cells have an efficiency level varying from XX% to XX%.

Despite the high efficiency level of this first-generation PV technology, there remains room for

improvement in the following areas:

Lowering costs

Improving the quality of polysilicon

Reducing metallic impurities, grain boundaries and dislocations




Introduction

2.3 Report Guidance

The report begins with an executive summary that gives a snapshot of the key indicators in

Asia-Pacific solar PV market.

The “Introduction” section provides a brief overview of solar PV module technology and

different types of solar PV modules.

The “Global Solar PV Market Outlook” section discusses an overview of the global market for

solar PV and examines several parameters of the global solar PV market, such as installations,

generation, the average global price of a solar PV module, average installation prices, market

size over the years, global production of C-Si and thin-film modules, major manufacturers and

covers information on upcoming technologies.

Global Solar PV section is followed by Asia-Pacific region section and countries section on

China, Japan and South Korea. Each of these sections covers information on installations,

generation, the average module price, average installation prices, market size over the years,

global production of C-Si and thin-film modules and regulations related to solar PV industry.

Sections on Asia-Pacific region and countries are followed by section on “Competitiveness of

solar PV technology” which compares competitiveness between renewable sources of energy

in terms of levelized cost of energy and module cost in various regions.

“Risk Analysis” section which follows “Competitiveness of solar PV technology” section

evaluates risks of solar PV system over its life span

Section on “Solar Photovoltaic Market Saturation” which follows examines saturation levels and

sustainability of solar PV technology in the future.

The last section is on “Company Profiles” which covers company profiles of some of the major

players in solar PV industry.




Solar PV Market Outlook, Asia-Pacific, 2010–2030

4.2.1 Solar Photovoltaic Market, Asia-Pacific, Share of Major Countries, 2013–2025

In 2013, China and Japan were the leading countries in terms of solar PV installed capacity in the

region. Together they contributed around XX% of Asia-Pacific’s solar PV installed capacity. Solar

PV installations in China are expected to increase sharply in the future due to supportive

government policies. China’s share in the region’s solar PV capacity is expected to gradually

increase to around XX% by 2025. However, solar PV installations in Japan are expected to

observe a slump after 2015, as the government is reducing its support for solar PV technology, and

the country’s share is expected to decrease to around XX% by 2025. Other major countries with

solar PV installed capacity include South Korea and India. The share of South Korea in the region’s

solar PV capacity is expected to range between XX% and XX% during the 2013–2025 period. The

contribution of the rest of the countries in the Asia-Pacific region will be around XX% in 2013,

decreasing to XX% by 2025.

The following chart illustrates the share of the major countries in Asia-Pacific’s solar PV capacity in

2013, 2015, 2020 and 2025.

Figure 14: Solar Photovoltaic Market, Asia-Pacific, Share of Major Countries (%), 2013–2025

2013 2015 2020 2025

Sha

re o

f maj

or c

ount

ries

(%)

Rest of Asia South Korea Japan China

Source: GlobalData, Alternative Energy eTrack [Accessed on December 31, 2013]




Solar PV Market Outlook, China, 2010–2030

5.2.1.2 Solar Photovoltaic Market, China, Expected Capacity Addition, 2013

In 2013, China is expected to install XX GW of solar PV capacity. Gansu Province in the north-

western part of the country has around XX GW of projects, which are either commissioned or in the

advanced stages of development. These consist of: Jinchang Jintai Solar PV Park, with a capacity

of XX MW; Yongchang Chint Solar PV Park; and Jinchang CLP Holding Solar PV Park, with a

capacity of XX MW each. Other major provinces with solar PV development in 2013 are Xinjiang,

Shaanxi, Shanxi, Jiangsu and Hainan.

Figure 23: Solar Photovoltaic Market, China, Expected Capacity Addition (MW), 2013

Gan

su

Xin

jiang

Sha

anxi

Sha

nxi

Jian

gsu

Hai

nan

Zhej

iang

Nin

gxia

Bei

jing

Sha

ndon

g

Qin

ghai

Heb

ei

Inne

r-M

ongo

lia

Exp

ecte

d ca

paci

ty a

dditi

on (M

W)

Source: GlobalData, Alternative Energy eTrack [Accessed on Novermber 18, 2013]




Solar PV Market Outlook, South Korea, 2010–2030

7.5 Solar Photovoltaic Module Market, South Korea, Module Price, 2010–2015

The average price for solar PV modules has been decreasing in South Korea, due to the growing

numbers of installations and improvements in solar PV technologies. In 2010, the average cost of a

crystalline module was $XX/W, this reduced to $XX/W in 2013 and is expected to increase to

$XX/W by 2015. The following figure illustrates the average price of crystalline and thin-film solar

PV modules between 2010 and 2015.

Figure 48: Solar Photovoltaic Market, South Korea, Average Module Price ($/W), 2010–2015

2010 2011 2012 2013 2014 2015

Ave

rage

mod

ule

pric

e ($

/W)

Crystalline Thin-film Source: GlobalData, Alternative Energy eTrack [Accessed on December 31, 2013]




Appendix

12 Appendix

12.1 Abbreviations

Table 94: Abbreviations Abbreviation Expanded form

AC Alternating Current

A-Si Amorphous Silicon

ANRE Agency for Natural Resources and Energy, Japan

BIPV Building Integrated Photovoltaic

bn billion

BoS Balance of Systems

CAES Compressed Air Energy Storage

CAGR Compound Annual Growth Rate

CCGT Combined-Cycle Gas Turbine

CdTe Cadmium telluride

CIGS Copper indium gallium selenide

CPV Concentrated photovoltaic

c-Si crystalline Silicon

CUF Capacity Utilization Factor

DC Direct Current

DR Discount Rate

EC European Commission

EU European Union

FiT Feed-in-Tariff

GHG Greenhouse gas

GW Gigawatt

GWh Gigawatt-hour

HCPV High concentrated photovoltaic

IRR Internal Rate of Return

ITC Investment Tax Credits

kW kilowatt

kWh kilowatt-hour

L-A Lead Acid

LCOE Levelized Cost of Energy

LCPV Low Concentrated Photovoltaic

m meter

MCPV Medium Concentrated Photovoltaic




Appendix

METI The Ministry of Economy, Trade and Industry

mm millimeters

mmBTU Million Metric British Thermal Units

mmboe million barrels of oil equivalent

MOST The Ministry of Science and Technology

MSW Municipal Solid Waste

MW Megawatt

NA Not Available

Na-S Sodium Sulfur batteries

NDRC The National Development and Reform Commission

NEA National Energy Administration of China

NEDO The New Energy and Industrial Technology Development Organization

Ni-Cd Nickel-Cadmium Battery

NRED New Renewable Energy Development

NREL National Renewable Energy Laboratory

O&M Operations and Maintenance

PTC Production Tax Credits

PV Photovoltaic

R&D Research and Development

RES Renewable Energy Sources

RPP Renewable Power Percentage

RPO Renewable Purchase Obligation

RPS Renewable Portfolio Standards

RPP Renewable Power Percentage

SES Supercapacitor Energy Storage

SMES Superconducting Magnetic Energy Storage

TWh Terawatt-hour

US United States

VAT Value Added Tax

VRF Vanadium Redox

W Watt

Y-o-Y Year-on-Year

Zn-Br Zinc Bromine

Source: GlobalData




Appendix

12.2 Bibliography

Bright Star Solar (2013). Life Expectancy of Solar Photovoltaic Panels. Bright Star Solar.

Available from: http://www.brightstarsolar.net/2010/06/life-expectancy-of-solar-photovoltaic-

panels/. [Accessed on November 8, 2013]

CAT (2013). How long do solar electric PV panels last? Centre for Alternative Energy

Technology. Available from: http://info.cat.org.uk/questions/pv/life-expectancy-solar-PV-panels.

[Accessed on November 6, 2013]

Channell et al. (2013). Shale & renewables: a symbiotic relationship. Citi Research. Available

from:

https://ir.citi.com/586mD+JRxPXd2OOZC6jt0ZhijqcxXiPTw4Ha0Q9dAjUW0gFnCIUTTA==

[Accessed on November 11, 2013]

EIA (2013a). Annual Energy Outlook 2013. Energy Information Administration. Available from:

http://www.eia.gov/forecasts/aeo/IF_all.cfm#uscrude [Accessed on November 11, 2013]

EIA (2013b). How old are U.S. power plants? Energy Information Administration. Available

from: http://www.eia.gov/energy_in_brief/article/age_of_elec_gen.cfm [Accessed on November

11, 2013]

EIA (2013c). AEO2013 Early Release Overview. Energy Information Administration. Available

from: http://www.eia.gov/forecasts/aeo/er/early_prices.cfm [Accessed on November 11, 2013]

Energy Policy (2012). China's Energy Policy 2012. Chinese Government's Official Web Portal.

Available from: http://www.gov.cn/english/official/2012-10/24/content_2250497.htm [Accessed

on November 14, 2013]

IEA-PVPS (2011). National Survey Report of PV Power Applications in Korea 2011.

International Energy Agency Photovoltaic Power System Programme. Available from:

http://iea-

pvps.org/index.php?id=9&tx_damfrontend_pi1=&tx_damfrontend_pi1[catPlus]=&tx_damfronten

d_pi1[catEquals]=&tx_damfrontend_pi1[catMinus]=&tx_damfrontend_pi1[catPlus_Rec]=64&tx_

damfrontend_pi1[catMinus_Rec]=&tx_damfrontend_pi1[treeID]=60&tx_damfrontend_pi1[id]=9

[Accessed on June 3, 2013]




Appendix

WISE (2012). Comparative Assessment of Crystalline and Thin-Film PV Technologies in India

— A Guide for Policy & Business Decisions. World Institute of Sustainable Energy. Available

from: http://cse.wisein.org/solar-energy-projects.htm. [Accessed on November 11, 2013]

WNA (2013). Nuclear Power in Germany. World Nuclear Association. Available from:

http://www.world-nuclear.org/info/Country-Profiles/Countries-G-N/Germany/ [Accessed on

November 14, 2013]

12.3 Market Definitions

Historic Period: Before 2013

Base Year: 2013

Forecast Period: After 2013

Global: This refers to all countries included in the GlobalData capacity and generations database.

These countries constitute more than 99% of wind-power capacity in the world.

Others: This category includes countries other than the US, China, India, Germany, Spain and the

UK.

12.4 Methodology

GlobalData’s dedicated research and analysis teams consists of experienced professionals with a

pedigree in marketing, market research, consulting background in the energy industry and

advanced statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and

the Strategic and Competitive Intelligence Professionals (www.scip.org).

All GlobalData databases are continuously updated and revised. The following research

methodology is followed for all databases and reports.




Appendix

12.4.1 Coverage

The objective of updating GlobalData coverage is to ensure that it represents the most up to date

vision of the industry possible.

Changes to the industry taxonomy are built on the basis of extensive research of company,

association and competitor sources.

Company coverage is based on three key factors: market capitalization, revenues and media

attention/innovation/ market potential.

The estimated revenues of all major companies, including private and governmental, are gathered

and used to prioritize coverage.

Companies which are making the news, or which are of particular interest due to their innovative

approach are prioritized.

GlobalData aims to cover all major news events and deals in the alternative energy industry,

updated on a daily basis.

12.4.2 Secondary Research

The research process begins with exhaustive secondary research on internal and external sources

being carried out to source qualitative and quantitative information relating to each market.

The secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports and investor presentations

Industry trade journals and other literature

Internal and external proprietary databases

National government documents, statistical databases and market reports

News articles, press releases and web-casts specific to the companies operating in the market




Appendix

12.4.3 Primary Research

GlobalData conducts extensive primary interviews with industry participants and commentators in

order to validate its data and analysis. A typical research interview fulfills the following functions:

It provides first-hand information on the market size, market trends, growth trends, competitive

landscape and future outlook of the relevant market.

It helps in validating and strengthening the secondary research findings.

It further develops the analysis team’s expertise and market understanding.

Primary research involves e-mail interactions, telephonic interviews as well as face-to-face

interviews for each market, category, segment and sub-segment across geographies.

The participants who typically take part in such a process include, but are not limited to:

Industry participants: CEOs, VPs, business development managers, market intelligence

managers and national sales managers

Outside experts: Investment bankers, valuation experts, research analysts and key opinion

leaders specializing in alternative energy industry

12.4.4 Assumptions

The following are the data points that are estimated or sourced through primary and secondary

research.

Installed Capacity and Power Generation

The installed capacity and power generation values have been extracted from GlobalData’s

proprietary database, which is continuously updated. These updates are made through extensive

primary and secondary research and by contacting several industry associations and government

energy agencies.

Average Module Price and Market Size

Global and country wise average module prices up to mid 2013 were determined through primary

and secondary research. The future module price forecasts till 2020 are made based on the

estimates of silicon prices and the market size globally and in each key country is calculated by

multiplying the module price and the estimated annual additions of each year.




Appendix

12.5 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any

form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior

permission of the publisher, GlobalData.

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