According to a new GlobalData
(London, UK) report, solar photovoltaic (PV) module annual installed
capacity is set to increase gradually from 49.77 Gigawatts (GW) in 2015
to 69.86 GW by 2020, due to an increase in economies of scale, emerging
technologies, and policy-based governmental and institutional support
for the industry.
PV module prices are estimated to dip further during the forecast period due to competitive market conditions.
Despite an increase in PV module capacity additions,
the global solar PV market will decline in value from USD 39.71 billion
in 2016 to USD 33.43 billion in 2020, the market research company
expects.
PV module buyers will be creating persistent price pressures
“With minimal price differences between module
suppliers, buyers are price sensitive, thus creating persistent price
pressures,” says GlobalData.
With the year-on-year reduction in global PV module
prices, the projects have less capital investment and have driven the
solar power system installations on the whole.
The crystalline silicon (c-Si) and thin-film modules
have seen large price drops since 2010. The average price of a module
was approximately USD 2.17 per watt and USD 1.99 per watt in 2010 for
c-Si and thin-film modules, respectively.
Average PV module price expected to drop to USD 0.47 per watt by 2020
Module prices fell sharply in 2011 due to a
production rush, leading to oversupply. Falling prices stabilized
starting 2014 and reached USD 0.61 per watt and USD 0.60 per watt in
2015 for c-Si and thin-film module, respectively.
This price is expected to fall further during the
forecast period, reaching USD 0.48 per watt and USD 0.46 per watt for
c-Si and thin-film module, respectively, by 2020, according to
GlobalData.
source: http://www.solarserver.com
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