3.1. Spain Solar PV On-Grid and Off-Grid Cumulative Installed Capacity,

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2 TABLE OF CONTENTS 1. Spain Solar Photovoltaic (PV) Market Introduction 2. Spain Solar Feed-in Tariffs Present Status and Impact 3. Spain Solar PV Market Size, Spain Solar PV On-Grid and Off-Grid Cumulative Installed Capacity, Spain Solar PV On-Grid and Off-Grid Annual Installed Capacity, Spain Solar PV Power per Capita, Spain Renewable Energy Market Segmentation 5.1. By Installed Capacity, 2009 and By Electricity Generation, 2009 and Spain Solar PV Market Competitive Landscape 7. Spain Solar PV SWOT Analysis Strengths Weakenesses Opportunities Threats 8. Spain Solar PV Market Future Outlook 8.1. Spain Solar PV Cumulative Installed Capacity, Spain Solar PV Annual Installed Capacity, Spain Solar PV Power Per Capita, Spain Solar PV Power Generation, Spain Macro Economic Indicators: Current and Projections 9.1. Population, GDP, Appendix Market Definition Abbreviations 2

3 10.3. Research Methodology Data Collection Methods Approach Disclaimer 3

4 LIST OF FIGURES Figure 1: Spain Solar PV Market Size in terms of Grid Connected and Off-Grid Cumulative Installed Capacity in Percentage, Figure 2: Spain Solar PV Market Size in terms of On-Grid and Off-Grid Annual Installed Capacity in Percentage, Figure 3: Spain Solar PV Power Installed Capacity per Capita in Watt/Inhabitant, Figure 4: Spain Renewable Energy Market Segmentation by Installed Capacity, in Percentage, 2009 Figure 5: Spain Renewable Energy Market Segmentation by Expected Capacity of each renewable source, in Percentage, 2015 Figure 6: Spain Renewable Energy Market Segmentation by Electricity Generation, in Percentage, 2009 Figure 7: Spain Renewable Energy Market Segmentation by Electricity Generation, in Percentage, 2015 Figure 8: Spain Solar PV Market Size in terms of Cumulative Installed Capacity in Megawatt, Figure 9: Spain Solar PV Market Size in terms of Annual Installed Capacity in Megawatt, Figure 10: Spain Solar PV Power Installed Capacity per Capita in Watt/Inhabitant, Figure 11: Spain Solar PV Power Generation in Gigawatt hour (GWh),

5 LIST OF TABLES Table 1: Present Scenario and Impact of Feed-in Tariff Plans in Spain Solar Photovoltaic Market Table 2: Spain Solar PV Industry Feed-in Tariff Plans Amendments, in c /KWh in 2008 Table 3: Spain Solar PV Market Size in terms of On-Grid and Off-Grid and Total Cumulative Installed Capacity in Megawatt (MW), Table 4: Spain Solar PV Market Size in terms of On-Grid and Off-Grid and Total Annual Installed Capacity in Megawatt (MW), Table 5: Spain Renewable Energy Market Segmentation by Installed Capacity of each renewable source, in Megawatt (MW), 2009 Table 6: Spain Renewable Energy Market Segmentation by Installed Capacity, in Megawatt (MW), 2015 Table 7: Spain Renewable Energy Market Segmentation by Electricity Generation, in Gigawatt hour (GWh), 2009 Table 8: Spain Renewable Energy Market Segmentation by Expected Electricity Generation, in Gigawatt (GWh), 2015 Table 9: Competitive Landscape of Major Solar Photovoltaic Cell/Module Producers in Spain (BP Solar, CelCelis, Isofoton, Solaria Energia and T-Solar) Table 10: Spain Solar PV Market Size in terms of Cumulative Installed Capacity in Megawatt, Table 11: Spain Solar PV Market Size in terms of Annual Installed Capacity in Megawatt, Table 12: Spain Population Trend in Million, Table 13: Spain Gross Domestic Product in USD Billion,

6 SPAIN SPAIN SOLAR FEED-IN TARIFFS PRESENT STATUS AND IMPACT Table: Present Scenario and Impact of Feed-in Tariff Plans in Spain Solar Photovoltaic Market Policy Implementation Date Present Scenario Duration Impact March, 2004 Source: AM Mindpower Solutions Table: Spain Solar PV Industry Feed-in Tariff Plans Amendments, in c /KWh in 2008 Capacity/Category Tariff Plans, Royal Decree 1578/2008, (in c /KWh) Building Integrated installations Up to 20 kw Over 20 kw to 2 MW Non integrated installations up to 10MW Ground mounted 6

7 SPAIN SOLAR PV MARKET SIZE, SPAIN SOLAR PV ON-GRID AND OFF-GRID CUMULATIVE INSTALLED CAPACITY, Spain is regarded as the second largest solar power country in Europe with a total cumulative installed capacity of ~ GW. A major proportion i.e. nearly ~ GW of this installed capacity was added in This happened after the government announced a maximum ceiling of ~ MW of installations in the country in autumn Several investors rushed to install the Spain is the ~ largest manufacturer of solar power technology in Europe with the annual installations of ~ MW in 2010, increasing the capacity to ~ GW maximum possible capacity prior to the above mentioned date. Another driver for the development of the market during was the sanctioning of renewable energy plan in the year By 2010, the plan set the target to satisfy 30.3% of the electricity consumption and 12.1% of the final energy consumption from non-conventional sources. The carbon emission saved due to the plan was estimated to be around ~ million tons of CO2 in Table: Spain Solar PV Market Size in terms of On-Grid and Off-Grid and Total Cumulative Installed Capacity in Megawatt (MW), Years On-Grid Cumulative Installed Capacity (MW) Off-Grid Cumulative Installed Capacity (MW) Total Cumulative Installed Capacity (MW)

8 SPAIN SOLAR PV ON-GRID AND OFF-GRID ANNUAL INSTALLED CAPACITY, Spain has added solar installed capacity in a volatile manner guided by the interplay of the government support schemes. This indicates the impetuous nature of the government support Unstable growth in Spain solar PV installed capacity in the past 5 years guided by the interplay of the impetuous government support schemes scheme. The initial solar FiT was far too high, remarkable for the investors but completely unsustainable in terms of power purchase. It has been observed that the new revised FiT in 2011 is another endeavor of the government to approve projects again and progress on the learning curve and on its target to meet its electricity consumption needs from renewable sources. AM Mindpower Solutions believes that this impetus will not be momentarily and market will open back to investment and profitability for investors. Figure: Spain Solar PV Market Size in terms of On-Grid and Off-Grid Annual Installed Capacity in Percentage, Off-Grid On-Grid SPAIN RENEWABLE ENERGY MARKET SEGMENTATION BY ELECTRICITY GENERATION, 2009 AND 2015 Wind power is expected to continue to be a market leader in terms of its contribution in the electricity generation from the renewable sources by The segment is expected to generate ~ GWh of electricity by Hydraulics segment is also expected to remain on its growth trajectory with the expected electricity generation of ~ GWh by Solar PV industry is expected to face close competition from Biomass & Biogas renewable sources for 8

9 the third largest contributor to the renewable electricity generation. Solar PV and Biomass & Biogas are expected to generate ~ GWh and ~ GWh of renewable electricity by Figure: Spain Renewable Energy Market Segmentation by Electricity Generation, in Percentage, Wind Hydraulics Solar Photovoltaic Biomass & Biogas Solar Thermal SPAIN SOLAR PV MARKET COMPETITIVE LANDSCAPE Table: Competitive Landscape of Major Solar Photovoltaic Cell/Module Producers in Spain (BP Solar, CelCelis, Isofoton, Solaria Energia and T-Solar) Major Players Business Overview Key Business Segments (Revenue Contribution) Financials Geographical Reach 9

10 SPAIN SOLAR PV MARKET FUTURE OUTLOOK SPAIN SOLAR PV ANNUAL INSTALLED CAPACITY, Spain was on its right way to make Europe one of the greenest nations, but its hopes of becoming a solar power house have seemed to suffer a setback because of the government s plans to cut the subsidies in the form of FiTs for new and existing photovoltaic projects as the it cannot afford it in the current economic situation. Figure: Spain Solar PV Market Size in terms of Annual Installed Capacity in Megawatt, MW Worst Case Base Case Best Case 10

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