Washington, D.C., United States [RenewableEnergyWorld.com] Navigant Consulting Inc. and its Photovoltaic (PV) Service Program has released its annual report Analysis of Worldwide PV Markets and Five?Year Application Forecast 2008/2009.
The report includes a detailed analysis of the market for PV technologies and products by selling channels, application segments, module size and regional markets. The report’s global coverage includes analysis of developed and industrialized countries in the following regions: North America, Latin America, Asia Pacific, Europe, Africa and the Middle East.
“2009 is proving a challenging year for the photovoltaic industry, with its first decrease in overall demand volume in thirty?five years,” said Paula Mints, associate director and principal analyst with Navigant Consulting’s PV Services Program. “We are also seeing significant module price decreases due to slower demand worldwide, which increases affordability of the technology, and may translate to more affordable system prices.”
The report includes detailed analysis of, among other topics, how investment models affect the PV market.
According to the report, the grid application is the largest and fastest growing of all of the photovoltaic market segments, with an 80% share of global volume in 2004, an 82% share in 2005, an 86% share of total volume in 2006, and a 94% share of total volume in 2008. The fastest growing sub?segment of this application is the commercial application, primarily investor owned (>1?MWp) fields and roofs.
Always dynamic in terms of changes and growth, the grid connected application is in a particularly dynamic stage with business and financial models maturing, technology form factors being developed specifically for the it, and business entities (manufacturing and selling channel) starting up to serve it. Accelerated growth will resume for this application segment as it has many years before it matures. In the meantime, industry volume is now reliant on a healthy, maturing grid connected application.