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Global PV module shipments to grow 29% in Q4 2015

Posted: 21 Sep 2015     Print Version  Bookmark and Share

Keywords:PV  photovoltaic  solar power  solar energy 

Capacity expansions, stable pricing and increasing demand from regional markets are driving the global photovoltaic (PV) module industry to new heights. Growth will continue into 2016 when module shipments will exceed 2015 shipments by 10 per cent, according to IHS Technology.

Due to stable pricing and increased shipments, global 2016 PV module revenue is forecast to hit ₹2.67 lakh crore ($41.9 billion), exceeding the previous record set in 2010 by 4 per cent. PV module shipments in the fourth quarter of 2015 are expected to rise 29 per cent, year over year, reaching 18.7GW in the quarter.

"Compared to prior years, this period of strong growth in solar installation demand, coupled with tight supply, will support relatively robust pricing," said Edurne Zoco, senior principal analyst for IHS Technology. "In fact average annual prices are forecast to decline significantly less than in previous years."

PV module shipments

The United States PV market is forecast to experience a significant decline in 2017, following the reduction of the federal investment tax credit (ITC). This tax-credit reduction will contribute to a fall in global demand for PV modules, and PV module prices are forecast to decline by 9 per cent.

"This year and next year will mark a climax in the recovery of the solar PV sector, after a period of intense price reductions and margin compression, when average gross margins fell into the mid-single digits or lower," Zoco said.

"Even so, the predicted slowdown in global demand in 2017—on the back of a decline in the United States—is likely to challenge these suppliers once again, since manufacturing capacity additions are set to dangerously outpace industry demand. Competition will intensify, which will lead to accelerating declines in prices and gross margins, for the first time since 2012," he added.

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