SOLAR PV MODULES MARKET SIZE, ANNUAL PRODUCTION, AVERAGE PRICE, COMPETITIVE LANDSCAPE AND KEY COUNTRY ANALYSIS TO 2020

Transcription

1 REFERENCE CODE GDAE1078M AR PUBLICATION DATE AUGUST 2013 SOLAR PV MODULES MARKET SIZE, ANNUAL

2 Executive Summary Global Solar PV Module Installed Capacity will Grow until 2020 but with Small Annual Additions Solar module installations witnessed immense growth during the period, with a Year- On-Year (Y-O-Y) growth rate of cumulative capacity of more than XX% each year from 2008 to The annual installations increased from XX GW (Gigawatts) in 2006 to XX GW in 2011 with increasing economies of scale, emerging technologies, and policy-based governmental and institutional support for the industry. However, the growth in 2012 was much lower compared to the growth in the preceding years, as the industry started to adjust away from the initial spur, and also due to the reduction and/or elimination of support from a few governments of key geographies for the industry. Annual installations of XX GW took place in 2012, which was only a slight improvement from the XX GW installed in Annual installations are set to fall slightly to XX GW in 2013, due to reduced government support in several countries including Spain, Italy and Germany. From 2014 onward, annual additions are expected to be stable until The following figure shows the annual and cumulative capacity of solar modules installed globally for the period and the forecast installations for the period. Solar Photovoltaic Module Market, Global, Installed Capacity, GW, Installed Capacity (GW) Annual Installation Cumulative Installation Y-O-Y Growth Source: GlobalData, Alternative Energy etrack [Accessed on 26 June, 2013] Germany, China and Italy were the Largest Consumers of Solar PV Modules in 2012 Germany was the largest consumer of solar modules in 2012, with annual installations of XX GW. In spite of an Feed-in Tariff (FIT) structure that is subject to digression on a monthly basis, the annual installations in Germany were the highest in the world as the FITs still kept the business profitable. China became the second largest consumer of modules overtaking Italy and the US. Annual installations in China grew from XX GW in 2011 to XX GW in Y-O-Y Growth 2

3 Table of Contents 1 Table of Contents 1 Table of Contents List of Tables List of Figures Introduction Solar Photovoltaic Technology Types of Solar Modules Crystalline Silicon Modules Thin-film Technology New Emerging Solar PV Technology GlobalData Report Guidance Solar PV Modules Market, Global Solar PV Modules Market, Global, Overview Solar PV Modules Market, Global, Installed Capacity, Solar PV Modules Market, Global, Power Generation, Solar PV Modules Market, Global, Production by Country, Solar PV Modules Market, Global, Module Price, Solar PV Modules Market, Global, Market Size, Solar PV Modules Market, Global, Production Share of Companies, Solar PV Modules Market, Global, Competitive Analysis, Solar PV Market, Global, Market Drivers FITs and Other Financial Incentives Guarantee Return on Investment to Solar Power Producers and Drive the Solar Module Market

4 Table of Contents Renewable Laws, Mandates and Policy Support Enable Global PV Market Development Capital and Financial Support Drive PV Installations Solar PV Market, Global, Market Restraints PV Incentive Cuts in some of the Major PV Markets Expected to Hinder Market Growth in Europe Supply Demand Imbalance may Cause Oversupply Harming Module Manufacturers or Undersupply Affecting Project Proponents Lack of Sufficient Grid Infrastructure could Hamper Growth in the PV Market Solar PV Module Market, The US Solar PV Module Market, the US, Overview Solar PV Module Market, the US, Installed Capacity, Solar PV Module Market, the US, Solar PV Power Generation, Solar PV Modules Market, the US, Average Module Price, Solar PV Modules Market, the US, Market Size, Solar PV Modules Market, the US, Module Production, Solar PV Modules Market, the US, Share of Major Producers, Solar PV Module Market, Germany Solar PV Module Market, Germany, Overview Solar PV Module Market, Germany, Installed Capacity, Solar PV Module Market, Germany, Solar PV Power Generation, TWh, Solar PV Modules Market, Germany, Average Module Price, Solar PV Modules Market, Germany, Market Size,

5 Table of Contents 5.6 Solar PV Modules Market, Germany, Module Production, MW, Solar PV Modules Market, Germany, Share of Major Producers, Solar PV Module Market, Italy Solar PV Module Market, Italy, Overview Solar PV Module Market, Italy, Installed Capacity, Solar PV Module Market, Italy, Solar PV Power Generation, Solar PV Modules Market, Italy, Average Module Price, Solar PV Modules Market, Italy, Market Size, Solar PV Modules Market, Italy, Module Production, Solar PV Modules Market, Italy, Share of Major Producers, Solar PV Module Market, China Solar PV Module Market, China, Overview Solar PV Module Market, China, Installed Capacity, Solar PV Module Market, China, Solar PV Power Generation, Solar PV Modules Market, China, Average Module Price, Solar PV Modules Market, China, Market Size, Solar PV Modules Market, China, Module Production, Solar PV Modules Market, China, Share of Major Producers, Solar PV Module Market, Japan Solar PV Module Market, Japan, Overview Solar PV Module Market, Japan, Installed Capacity, Solar PV Module Market, Japan, Solar PV Power Generation, TWh, Solar PV Modules Market, Japan, Average Module Price,

6 Table of Contents 8.5 Solar PV Modules Market, Japan, Market Size, Solar PV Modules Market, Japan, Module Production, Solar PV Modules Market, Japan, Share of Major Producers, Solar PV Module Market, Republic of Korea Solar PV Module Market, Republic of Korea, Overview Solar PV Module Market, Republic of Korea, Installed Capacity, Solar PV Module Market, Republic of Korea, Solar PV Power Generation, Solar PV Modules Market, Republic of Korea, Average Module Price, Solar PV Modules Market, Republic of Korea, Market Size, Solar PV Modules Market, Republic of Korea, Module Production, Solar PV Modules Market, Republic of Korea, Share of Major Producers, Solar PV Module Market, Taiwan Solar PV Module Market, Taiwan, Overview Solar PV Module Market, Taiwan, Installed Capacity, Solar PV Module Market, Taiwan, Solar PV Power Generation, Solar PV Modules Market, Taiwan, Average Module Price, Solar PV Modules Market, Taiwan, Market Size, Solar PV Modules Market, Taiwan, Module Production, Solar PV Modules Market, Taiwan, Share of Major Producers, Solar PV Module Market, India Solar PV Module Market, India, Overview Solar PV Module Market, India, Installed Capacity, Solar PV Module Market, India, Solar PV Power Generation, GWh,

7 Table of Contents 11.4 Solar PV Modules Market, India, Average Module Price, Solar PV Modules Market, India, Market Size, Solar PV Modules Market, India, Module Production, Solar PV Modules Market, India, Share of Major Producers, Appendix Abbreviations Bibliography Research Methodology Secondary Research Primary Research Market Estimates and Assumptions Disclaimer

8 Table of Contents 1.1 List of Tables Table 1: Solar Photovoltaic Module Market, Global, Installed Capacity, GW, Table 2: Solar Photovoltaic Module Market, Global, Power Generation, TWh, Table 3: Solar Photovoltaic Module Market, Module Production by Country, MW, Table 4: Solar Photovoltaic Module Market, Global, Module Price, $/W, Table 5: Solar Photovoltaic Module Market, Global, Market Size, $bn, Table 6: Solar Photovoltaic Module Market, C-Si Module Production by Company, MW, Table 7: Solar Photovoltaic Module Market, Thin-film Module Production by Company, MW, Table 8: Solar Photovoltaic Module Market, Competitive Analysis, Table 9: Solar Photovoltaic Module Market, The US, Installed Capacity, GW, Table 10: Solar Photovoltaic Module Market, The US, Power Generation (TWh), Table 11: Solar Photovoltaic Module Market, The US, Average Module Price, $/W, Table 12: Solar Photovoltaic Module Market, The US, Market Size, $bn, Table 13: Solar Photovoltaic Module Market, The US, Module Production, MW, Table 14: Solar Photovoltaic Module Market, The US, C-Si Module Production Share, MW, Table 15: Solar Photovoltaic Module Market, The US, Thin FIlm Module Production Share, MW, Table 16: Solar Photovoltaic Module Market, Germany, Installed Capacity, GW, Table 17: Solar Photovoltaic Module Market, Germany, Power Generation (TWh), Table 18: Solar Photovoltaic Module Market, Germany, Average Module Price, $/W, Table 19: Solar Photovoltaic Module Market, Germany, Market Size, $bn, Table 20: Solar Photovoltaic Module Market, Germany, Module Production, MW, Table 21: Solar Photovoltaic Module Market, Germany, C-Si Module Production Share, MW, Table 22: Solar Photovoltaic Module Market, Germany, Thin-film Module Production Share, MW, Table 23: Solar Photovoltaic Module Market, Italy, Installed Capacity, GW,

9 Table of Contents Table 24: Solar Photovoltaic Module Market, Italy, Power Generation, TWh, Table 25: Solar Photovoltaic Module Market, Italy, Average Module Price, $/W, Table 26: Solar Photovoltaic Module Market, Italy, Market Size, $bn, Table 27: Solar Photovoltaic Module Market, Italy, Module Production, MW, Table 28: Solar Photovoltaic Module Market, Italy, C-Si Module Production Share, MW, Table 29: Solar Photovoltaic Module Market, Italy, Thin Film Module Production Share, MW, Table 30: Solar Photovoltaic Module Market, China, Installed Capacity, GW, Table 31: Solar Photovoltaic Module Market, China, Power Generation, TWh, Table 32: Solar Photovoltaic Module Market, China, Average Module Price, $/W, Table 33: Solar Photovoltaic Module Market, China, Market Size, $bn, Table 34: Solar Photovoltaic Module Market, China, Module Production, MW, Table 35: Solar Photovoltaic Module Market, China, C-Si Module Production Share, MW, Table 36: Solar Photovoltaic Module Market, China, C-Si Module Production Share, MW, Table 37: Solar Photovoltaic Module Market, Japan, Installed Capacity (GW), Table 38: Solar Photovoltaic Module Market, Japan, Power Generation (TWh), Table 39: Solar Photovoltaic Module Market, Japan, Average Module Price, $/W, Table 40: Solar Photovoltaic Module Market, Japan, Market Size, $bn, Table 41: Solar Photovoltaic Module Market, Japan, Module Production, MW, Table 42: Solar Photovoltaic Module Market, Japan, C-Si Module Production Share, MW, Table 43: Solar Photovoltaic Module Market, Japan, Thin Film Module Production Share, MW, Table 44: Solar Photovoltaic Module Market, Republic of Korea, Installed Capacity, GW, Table 45: Solar Photovoltaic Module Market, Republic of Korea, Power Generation, TWh, Table 46: Solar Photovoltaic Module Market, Republic of Korea, Average Module Price, $/W, Table 47: Solar Photovoltaic Module Market, Republic of Korea, Market Size, $bn,

10 Table of Contents Table 48: Solar Photovoltaic Module Market, Republic of Korea, Module Production, MW, Table 49: Solar Photovoltaic Module Market, Republic of Korea, C-Si Module Production Share, MW, Table 50: Solar Photovoltaic Module Market, Taiwan, Installed Capacity, MW, Table 51: Solar Photovoltaic Module Market, Taiwan, Power Generation, GWh, Table 52: Solar Photovoltaic Module Market, Taiwan, Average Module Price, $/W, Table 53: Solar Photovoltaic Module Market, Taiwan, Market Size, $m, Table 54: Solar Photovoltaic Module Market, Taiwan, Module Production, MW, Table 55: Solar Photovoltaic Module Market, Taiwan, C-Si Module Production Share, MW, Table 56: Solar Photovoltaic Module Market, Taiwan, Thin Film Module Production Share, MW, Table 57: Solar Photovoltaic Module Market, India, Installed Capacity, MW, Table 58: Solar Photovoltaic Module Market, India, Power Generation, GWh, Table 59: Solar Photovoltaic Module Market, India, Average Module Price, $/W, Table 60: Solar Photovoltaic Module Market, India, Market Size, $m, Table 61: Solar Photovoltaic Module Market, India, Module Production, MW, Table 62: Solar Photovoltaic Module Market, India, C-Si Module Production Share, MW, Table 63: Solar Photovoltaic Module Market, India, Power Generation (TWh),

11 Table of Contents 1.2 List of Figures Figure 1: Solar Photovoltaic Module Market, Global, Installed Capacity, GW, Figure 2: Solar Photovoltaic Module Market, Global, Power Generation, TWh, Figure 3: Solar Photovoltaic Module Market, Module Production by Country, %, Figure 4: Solar Photovoltaic Module Market, Global, Module Price, $/W, Figure 5: Solar Photovoltaic Module Market, Global, Market Size, $bn, Figure 6: Solar Photovoltaic Module Market, C-Si Module Production by Company, %, Figure 7: Solar Photovoltaic Module Market, Thin-film Module Production by Company, %, Figure 8: Solar Photovoltaic Module Market, The US, Installed Capacity, GW, Figure 9: Solar Photovoltaic Module Market, The US, Power Generation (TWh), Figure 10: Solar Photovoltaic Module Market, The US, Average Module Price, $/W, Figure 11: Solar Photovoltaic Module Market, The US, Market Size, $bn, Figure 12: Solar Photovoltaic Module Market, The US, Module Production, MW, Figure 13: Solar Photovoltaic Module Market, The US, C-Si Module Production Share, %, Figure 14: Solar Photovoltaic Module Market, The US, Thin FIlm Module Production Share, %, Figure 15: Solar Photovoltaic Module Market, Germany, Installed Capacity, GW, Figure 16: Solar Photovoltaic Module Market, Germany, Power Generation (TWh), Figure 17: Solar Photovoltaic Module Market, Germany, Average Module Price, $/W, Figure 18: Solar Photovoltaic Module Market, Germany, Market Size, $bn, Figure 19: Solar Photovoltaic Module Market, Germany, Module Production, MW, Figure 20: Solar Photovoltaic Module Market, Germany, C-Si Module Production Share, %, Figure 21: Solar Photovoltaic Module Market, Germany, Thin-film Module Production Share, %, Figure 22: Solar Photovoltaic Module Market, Italy, Installed Capacity, GW, Figure 23: Solar Photovoltaic Module Market, Italy, Power Generation, TWh,

12 Table of Contents Figure 24: Solar Photovoltaic Module Market, Italy, Average Module Price, $/W, Figure 25: Solar Photovoltaic Module Market, Italy, Market Size, $bn, Figure 26: Solar Photovoltaic Module Market, Italy, Module Production, MW, Figure 27: Solar Photovoltaic Module Market, Italy, C-Si Module Production Share, %, Figure 28: Solar Photovoltaic Module Market, Italy, Thin Film Module Production Share, %, Figure 29: Solar Photovoltaic Module Market, China, Installed Capacity, GW, Figure 30: Solar Photovoltaic Module Market, China, Power Generation, TWh, Figure 31: Solar Photovoltaic Module Market, China, Average Module Price, $/W, Figure 32: Solar Photovoltaic Module Market, China, Market Size, $bn, Figure 33: Solar Photovoltaic Module Market, China, Module Production, MW, Figure 34: Solar Photovoltaic Module Market, China, C-Si Module Production Share, %, Figure 35: Solar Photovoltaic Module Market, China, Thin Film Module Production Share, %, Figure 36: Solar Photovoltaic Module Market, Japan, Installed Capacity, GW, Figure 37: Solar Photovoltaic Module Market, Japan, Power Generation, TWh, Figure 38: Solar Photovoltaic Module Market, Japan, Average Module Price, $/W, Figure 39: Solar Photovoltaic Module Market, Japan, Market Size, $bn, Figure 40: Solar Photovoltaic Module Market, Japan, Module Production, MW, Figure 41: Solar Photovoltaic Module Market, Japan, C-Si Module Production Share, %, Figure 42: Solar Photovoltaic Module Market, Japan, Thin Film Module Production Share, %, Figure 43: Solar Photovoltaic Module Market, Republic of Korea, Installed Capacity, GW, Figure 44: Solar PV Module Market, Republic of Korea, Power Generation, TWh, Figure 45: Solar Photovoltaic Module Market, Republic of Korea, Average Module Price, $/W, Figure 46: Solar Photovoltaic Module Market, Republic of Korea, Market Size, $bn, Figure 47: Solar Photovoltaic Module Market, Republic of Korea, Module Production, MW,

13 Table of Contents Figure 48: Solar Photovoltaic Module Market, Republic of Korea, C-Si Module Production Share, %, Figure 49: Solar Photovoltaic Module Market, Taiwan, Installed Capacity, MW, Figure 50: Solar Photovoltaic Module Market, Taiwan, Power Generation, GWh, Figure 51: Solar Photovoltaic Module Market, Taiwan, Average Module Price, $/W, Figure 52: Solar Photovoltaic Module Market, Taiwan, Market Size, $m, Figure 53: Solar Photovoltaic Module Market, Taiwan, Module Production, MW, Figure 54: Solar Photovoltaic Module Market, Taiwan, C-Si Module Production Share, %, Figure 55: Solar Photovoltaic Module Market, Taiwan, Thin-film Module Production Share, %, Figure 56: Solar Photovoltaic Module Market, India, Installed Capacity, GW, Figure 57: Solar Photovoltaic Module Market, India, Power Generation, GWh, Figure 58: Solar Photovoltaic Module Market, India, Average Module Price, $/W, Figure 59: Solar Photovoltaic Module Market, India, Market Size, $m, Figure 60: Solar Photovoltaic Module Market, India, Module Production, MW, Figure 61: Solar Photovoltaic Module Market, India, C-Si Module Production Share, %,

14 Introduction 2 Introduction 2.1 Solar Photovoltaic Technology Solar Photovoltaics (PV) is the conversion of energy stored in sunlight into electrical energy, which is consequently supplied either to the electric grid or to the consumer of electricity directly. This conversion is done by photosensitive semiconducting material 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 small amount of electricity in the order of a few hundred Watts (W), 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 façade, or integrated into the building itself. 2.2 Types of Solar Modules Crystalline Silicon Modules The Crystalline Silicon (C-Si) cell was the first generation of PV technology, made from a single crystal or a polycrystalline wafer of silicon. C-Si cells are combined together to form a C-Si solar module. Monocrystalline silicon cells have a uniform structure and an average wafer thickness of about XXmm. These cells are made from a single silicon crystal and are therefore uniform in color, which ranges from dark blue to black. Monocrystalline cells are the most efficient solar PV cells, with a high-energy conversion efficiency varying from XX% to XX%. Polycrystalline PV cells contain small crystals arranged in various directions and with an average wafer thickness varying from XX to XXmm. This type of solar cell is blue in color, lighter than monocrystalline cells. Polycrystalline PV cells have an efficiency level varying from XX% to XX%. 16

15 Introduction 2.3 GlobalData Report Guidance The report begins with an executive summary that gives a snapshot of the key indicators in the solar PV module market. The Introduction chapter is an introduction to the market and provides a brief overview of solar PV module technology and the different types of solar PV modules. The Global Solar PV Modules Market chapter provides an overview of the global market for solar PV modules and examines several parameters of the global solar PV market, such as annual installations, the average global price of a solar PV module, market size over the years, global production of C-Si and thin-film modules, major manufacturers, market drivers and market restraints. The remaining chapters give the historical ( ) and forecast ( ) annual additions, market size, average module price, market size, production of C-Si and thin-film modules and major producers and their share of production in 2012 for eight major countries the US, Germany, Italy, China, Japan, Republic of Korea, Taiwan and India. 19

16 Solar PV Modules Market, Global 3.3 Solar PV Modules Market, Global, Power Generation, With increasing cumulative installed capacity, the annual power generation from solar PV installations has also been increasing since In 2006, XX Terawatt-hours (TWh) of power was generated globally through solar PV modules. With increased installed capacity and increased efficiency in the modules used for the newer capacity, generation increased to XX TWh in Power generation from solar PV installations is expected to increase further to around XX TWh in 2013 and steadily increase over the next five years to reach over XX TWh in The following chart shows the power generation from solar PV installations globally for the period and the forecast generation for the period. Figure 2: Solar Photovoltaic Module Market, Global, Power Generation, TWh, Power Generation (TWh) Source: GlobalData, Alternative Energy etrack [Accessed on 26 June, 2013] 24

17 Solar PV Module Market, The US 4 Solar PV Module Market, The US 4.1 Solar PV Module Market, the US, Overview The solar PV market in the US has grown strongly in recent years and policies to promote solar power are increasing at both the federal and state level. Solar energy has established itself as a proven technology to improve US national energy security and boost the economy. The US federal government and numerous states have shown support for solar energy in recent years. The individual states have taken the lead in ensuring that incentives are properly structured to keep costs declining, while regulatory processes have become more easily navigable for businesses and consumers. These government initiatives aim to: Increase R&D investments to significantly reduce the cost of PV systems by lowering the costs of materials, manufacturing and installation Increase market opportunities, including the reduction of institutional barriers such as the lack of interconnection standards and net metering provisions for distributed energy The US, apart from being a major market for solar modules, is also a center for the research and production of modules. There is significant production of both C-Si and thin-film modules in the country, amounting to around 1 GW of modules produced annually. Most of the C-Si modules produced cater to the domestic demand, while the thin-film module production led by First Solar caters to the export market especially in India and Middle Eastern countries, where thin-film modules are more popular than C-Si modules. 43

18 Solar PV Module Market, The US 4.2 Solar PV Module Market, the US, Installed Capacity, The cumulative installed capacity of solar PV in the US increased from XX GW in 2006 to XX GW in 2012, with increasing annual additions during this period and a significant addition of XX GW in 2012 alone. Annual additions are expected to continue increasing and reach XX GW in 2016, followed by a steep fall in 2017 with a capacity addition of XX GW due to the expiry of ITC. Annual additions are expected to be lower during unless the ITC is renewed. The following chart shows the cumulative installed capacity, annual additions and year-on-year growth of cumulative capacity in the US for the period and the forecasts for the period. Figure 8: Solar Photovoltaic Module Market, The US, Installed Capacity, GW, Installed Capacity (GW) Y-O-Y Growth Annual Installation Cumulative Installation Y-O-Y Growth Source: GlobalData, Alternative Energy etrack [Accessed on 26 June, 2013] 44

19 Solar PV Module Market, India The following chart shows the production share of C-Si module manufacturing in India in Figure 61: Solar Photovoltaic Module Market, India, C-Si Module Production Share, %, 2012 Surana Ventures Limited 2% Sun Solar Techno Limited 2% HHV Solar Technologies Pvt. Ltd 3% Reliance Solar Group 3% Websol Energy Systems Ltd. 6% Titan Energy Systems Ltd. 6% Others 12% Vikram Solar Pvt. Ltd. 12% Solar Semiconductor Ltd 11% Emmvee Solar Systems Private Limited 11% Tata Power Solar Systems Limited 10% Waaree Solar 11% Moser Baer Solar Limited 11% Source: GlobalData Table 62: Solar Photovoltaic Module Market, India, C-Si Module Production Share, MW, 2012 Company Module Production (MW) Vikram Solar Pvt. Ltd. 100 Solar Semiconductor Ltd 90 Emmvee Solar Systems Private Limited 85 Moser Baer Solar Limited 83 Waaree Solar 83 Tata Power Solar Systems Limited 75 Titan Energy Systems Ltd. 50 Websol Energy Systems Ltd. 45 Reliance Solar Group 24 HHV Solar Technologies Pvt. Ltd 20 Sun Solar Techno Limited 17 Surana Ventures Limited 15 Others 94 Total 780 Source: GlobalData 151

20 Appendix 12 Appendix 12.1 Abbreviations Table 63: Solar Photovoltaic Module Market, India, Power Generation (TWh), Abbreviation Expanded form $ US Dollar AC Alternating Current A-Si Amorphous Silicon BIPV Building Integrated Photovoltaics bn Billion CNY Chinese Yen CPV Concentrated Photovoltaics C-Si Crystalline Silicon DC Direct Current DtA Deutsche Ausgleichsbank EC European Commission EEG Erneuerbare Energien Gesetz FIT Feed-in Tariff GBI Generation Based Incentives GHG Green House Gases GW Gigawatt GWh Gigawatt-hour ITC Investment Tax Credit KfW Kreditanstalt für Wiederaufbau kw Kilowatt kwh Kilowatt-hour LCOE Levelized Cost of Energy m Million MNRE Ministry of New and renewable Energy MW Megawatt MWh Megawatt-hour NSM National Solar Mission PTC Production Tax Credit PV Photovoltaics R&D Research and Development RES Renewable Electricity Standards RPO Renewable Purchase Obligation 152

21 Appendix RPS SEIAC T&D TWh W Y-O-Y Source: GlobalData Renewable Portfolio Standards Solar Energy Industry Advisory Council Transmission and Distribution Terawatt-hour Watt Year on Year 12.2 Bibliography IRENA (2012). Renewable Energy Technologies: Cost Analysis Series Solar Photovoltaics. International Renewable Energy Agency. Available from: SOLAR_PV.pdf NREL (2011). Quantum Dots Promise to Significantly Boost Photovoltaic Efficiencies. National Renewable Energy Laboratory. Available from: JPEA (2013). Shipment of Photovoltaic modules in Japan. Japan Economic Policy Association. Available from: Channell J et al., (2012). Shale & renewables: a symbiotic relationship. Citigroup. Available from: EIA (2013). Annual Energy Outlook United States Energy Information Administration. Available from: Harvey F (2011). Connie Hedegaard seeks renewable energy targets for The Guardian. Available from: [Accessed July 15, 2013] METI (2013). Settlement of FY2013 Purchase Prices for Newcomers and FY2013 Surcharge Rates under the Feed-in Tariff Scheme for Renewable Energy. Ministry of Economu Trade and Industry. Available from: [Accessed July 15, 2013] 153

22 Appendix MNRE (2013). Solar RPO and REC Framework. Ministry of New and Renewable Energy. Available from: [Accessed July 15, 2013] PC (2012). Twelfth Five Year Plan. Planning Commission Government of India. Available from: Research Methodology GlobalData s dedicated research and analysis teams consist of experienced professionals with a pedigree in marketing and market research, a background in consulting, and advanced statistical expertise in the energy industry. GlobalData s research methodology for the solar PV report mainly consists of primary and secondary research Secondary Research The research process begins with exhaustive secondary research on internal and external sources carried out to source qualitative and quantitative information relating to the global market and the market in each country. The secondary research sources that are typically used include, but are not limited to: Company websites: whitepapers, press releases, news and annual reports Industry trade journals, magazines and other literature: news articles and research studies Industry associations, energy agencies and other government bodies Internal proprietary databases such as our alternative energy etrack and power etrack. Information related to average module price in each country, has been obtained through extensive secondary and research. 154

23 Appendix Primary Research GlobalData conducts extensive primary interviews with industry participants and commentators in order to validate its data and analysis. A typical research interview is conducted to fulfill the following functions: To get the interviewee s perspective on the market size, market trends, growth trends, competitive landscape, and future outlook. To validate secondary research findings. To further develop the analysis team s expertise and market understanding. Key representatives of solar PV module manufacturing companies have been interviewed in order to perform the cost analysis of solar PV and also to validate the data and analysis of average module price, production capacity and production numbers of companies Market Estimates and 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. 155

24 Appendix 12.4 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. 156