Global PV market fulfills prophecy of 7GW for 2009

IMS Research's predictions for the global PV market rang true with 7.5GW of new PV capacity been added worldwide in2009.

On 9th April, the German Federal Network Agency finally released its December figures for new PV installations confirming IMS Research's earlier predictions that the German market grew massively in 2009 to reach 3.8GW, and in fact the global PV market saw double-digit growth.

PV research director, Ash Sharma commented, "An incredible 1.5GW of new capacity was installed in Germany in December. This was earlier predicted by IMS Research which measured inverter shipments at 3.5GW in Q4 09, and also predicted that the global PV market grew by 25% to exceed 7GW."

"Despite many in the industry predicting a much smaller market size in 2009, with some even stating the market had declined, IMS Research, which analysed multiple parts of the PV supply chain previously predicted this strong growth. As such, it still stands by its prediction that the PV market — in terms of both shipments of modules and inverters and new installed capacity grew at a double-digit rate in 2009 to exceed the 7GW mark".

Despite the upcoming cut to Germany's FIT, IMS Research still forecasts the global PV market will grow in 2010, up to 10 GW in terms of new installations with strong demand coming from many different countries.

For more statistics and forecasts, click here.