SPV Market Research

Solar PV Market Research, All Solar All the Time

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NOTES FROM THE SOLAR UNDERGROUND


 

Annual Global Analysis of the Markets for Solar PRoducts and Five Year Forecast Now Available! 


2.1      Report Highlights

The global market for solar modules grew by a compound annual rate of 40% from 1997 (114.1-MWp) to 2017 (93.9-GWp)

The cumulative total of PV cells/modules shipped from 1997 through 2017 is 378-GWp

In 2017 global system and application revenues increased by 9% from $99-billion in 2016 to $108-billion in 2017

In 2017 the grid-commercial application, all system sizes, consumed 89.1% of PV modules  

Ninety-six percent of modules sold in 2017 were >300-watts and a majority were 72-Cell

Due to changes in China, the forecast for 2018 shipments ranges from 80-GWp to a potential of 103.3-GWp, with significant inventory hangover into 2019 with shipments at 103.3-GWp

Taken globally, Tender bidding for solar projects continues to trend downward with many bids <$0.03/kWh, indicating a global average in the mid-three cent range

From 2012 through 2017 the grid-connected application (residential, commercial and utility owned) grew at a CAGR of 29% while the grid-connected commercial application grew at a CAGR of 35%

The regional market of Latin America is estimated to experience growth of 31% to 39% through 2020

 The regional market of West Asia (primarily India) is estimated to experience growth of 23% to 33% through 2020

For Sales information contact Paula Mints at 408-221-1564 or pmints@spvmarketresearch.com