Global PV Market Set to Take Off

The rapid growth in the solar photovoltaic (PV) industry could lead to an oversupply situation in the short term, but could also lead to grid parity for PV in three to four years, opening many new doors for the industry. That is according to a new report from SolarPlaza.

The report gives an overview of the market forces that are currently driving the global demand for solar power and discusses the probability and consequences of the possible oversupply situation. The first part of the report looks at demand dynamics in the world’s major PV markets. Government policies will come into play as Germany, Spain and the U.S. face uncertainties regarding their respective subsidy programs.

The second part of the report discusses some of the developments on the supply side. The availability of new products, including thin-film systems, as well as the increase in the supply of silicon, wafers and cells, will put pressure on the price of crystalline silicon-based modules.

According to the author of the report, Edwin Koot, CEO of SolarPlaza, uncertainties in the major markets and the situation on the supply side will lead to fierce competition, a lower module price, and a surge of consolidations.

To view a copy of the report from SolarPlaza, click here.

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