Irving, TX – October25, 2011: Incalendar year 2010, total worldwide solar photovoltaic (PV) system installations topped 16,568 MW with a value of US $75 billion. The market is anticipated to grow to 33,600 MW in 2016 with a 14% CAGR over the next five years. The cumulative installation is expected to reach 190,800 MW by the end of 2016,with a value of approximately US $105 billion representing a CAGR of 28% during 2011–2016.
Lucintel, a leading global Management Consulting and market research firm, analyzed the solar PV industry and presents its findings in the report, “Growth Opportunities in Solar Photovoltaic Market: 2011-2016.”
Lucintel’s research indicates thatthe growing inclination toward renewable energy to reduce carbon emissions is boosting solar energy across the globe. During 2011–2016, theNorth American and Asia-Pacific (APAC) markets for solar PV are expected to grow significantly. Accordingly, the overall share of North America and APAC in annual PV installation is likely to increase in the coming years.
Based on revised forecasts for solar PV, China is expected to be the global leader in annual solar PV installation by 2016. Solar PV capacity installation is also likely to grow significantly in the US during 2011–2016. The annual installation of solar PV in the US is forecast to surpass Germany by 2016 securing the second position globally, behind only China. Europe installed the largest amount of solar photovoltaic capacity in 2010, an estimated 79% of global annual installation for the year.
In this research report, Lucintel provides trend scenarios and forecast statistics for 2011–2016; details the industry’s drivers and challenges; manufacturing capacity for each node in the value chain of the solar PV industry; expansion plans; competitive analysis for solar PV; and installation of solar PV projects during 2011–2016; the report also details forecast for solar PV installation for all four global geographies—APAC, Europe, North America, and the Rest of the World.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that help facilitate critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit www.lucintel.com.