Global Solar Inverter Markets
SBI
November 1, 2011 170 Pages - SKU: SB6277134
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Countries covered: Global
The last decade witnessed an unprecedented boom in the Photovoltaic industry, leading to a rise in renewable energy generation the world over. Rising crude oil prices and growing environmental awareness prompted many economies to develop a cleaner alternative source of energy. Among renewable energy industries, the PV industry has been one of the fastest growing industries in the last decade with large scale installations in developed and developing economies. Since 2000, cumulative PV installations have grown at a CAGR of 35% reaching 40 GW in 2010, and we estimate the market to touch 400 GW by 2020. The majority of the installations are centered in EU countries with Germany, Italy, Czech Republic, Spain, France, Belgium and Greece constituting the major share. A series of restrictions by the governments and curtailing of subsidies to offset the growing budget deficits are likely to impact future growth in EU markets. In the next decade we expect a shift in PV growth markets to the non-EU countries of North America (US and Canada) and Asia, led by China and India.
PV components production and shipments grew in perfect correlation with the PV industry growth. The unsustainable industry growth of the last decade resulted in a widening supply and demand gap and rising prices. Technological changes and the emergence of disruptive technologies coupled with capacity expansions of major players led to falling prices of PV components.
Our report on the PV component market has a detailed analysis on PV cells, modules, wafers, polysilicon and inverters. The main focus of the study is on PV inverters, which is currently valued between $5.5- 5.8 Billion and we estimate the market to touch $7.5 Billion in 2015. This market research report also provides information on historical developments in PV inverter markets as well as on growth, size, volume of business and general trends in technological developments.
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Additional Information New York, NY - 20 October 2011 - Return on investment from solar power is higher than any other renewable energy source, thanks to large scale technological improvements which are expected to bring down the cost of power generation to $1 per watt by 2020. The payback period for a typical PV project has also come down to 3-5 years from the earlier 7-10 years.
Global Solar Inverters Markets, a new report released by SBI Energy, asserts that the cost of solar power production will decrease by half every ten years, reaching as low as $0.50 per watt by 2030. Large scale adoption of PV technology and the emergence of low cost production sites in China, Taiwan and other Asian markets would further reduce the cost of production in coming years.
Solar inverters convert solar power from DC power to AC power and as such are integral devices to any grid-tied PV installation. The PV industry has been one of the fastest growing renewable energy industries in the last decade with large scale installations in developed and developing economies. Since 2000, cumulative PV installations have grown at a CAGR of 35% reaching 40 GW globally in 2010, and the market is estimated to reach 400 GW by 2020. Meanwhile, SBI Energy estimates that the global PV inverters market, currently valued between $5.5- 5.8 billion, will touch $7.5 billion in 2015.
"During 2011-2012, we expect a short-term lull in the European Union PV market, primarily due to FiT rate cuts and regulations on farm land usage for ground mount installations," states Arun Kumar, SBI Energy analyst and author of the report. "But this will be offset by installations in the high growth markets of North America and Asia, and China in particular."
China is the other fast growing market, which is likely to reach the 1 GW cumulative installation mark in 2011. India and the rest of the Asia-Pacific region hold long-term growth potential with clear government road maps for increasing the share of renewable energy generation to reach 2020 targets.
The report, Global Solar Inverters Markets, covers the PV component market, with a detailed analysis on PV cells, modules, wafers, polysilicon and inverters. It also provides information on historical developments in PV inverter markets as well as on growth, size, volume of business and general trends in technological developments.
- Chapter 1 Executive Summary
- Micro-inverters
- Power optimizers
- Advantages of Micro-inverters and power optimizers
- Wafers
- Polysilicon
- PV Cells/Modules
- Table 1-1 Inverter Production Capacity 2011 (in MW)
- Emerging Market Analysis
- China
- Figure 1-1 China PV Installations 2006 - 2015 (MW)
- India
- Rest of Asia
- Malaysia
- South Korea
- Rest of Asia
- Latin America & MENA (Middle East and North Africa)
- Supply Demand Scenario
- Figure 1-2 Polysilicon Spot Price Trends 2008 - 2015 ($/Kg)
- Polysilicon
- Modules
- Figure 1-3 Average Selling Price Trends, Modules 2008 - 2015 ($/Kg)
- Inverters
- Photovoltaic Market Assessment
- Table 1-2 Year on Year PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
- Table 1-3 Cumulate PV Installed Capacity, Major Countries and Rest of the World 2008-2010 (in MW)
- Growth Country Market Beyond 2010
- Figure 1-4 Cumulative PV Installed Capacity of Growing Markets outside EU as of 2010 (in %)
- Growth Country Market Scenario
- USA
- Figure 1-5 Forecasted (Cumulative) PV Installations in US 2011 - 2015 (in MW)
- Canada
- Figure 1-6 Forecasted (Cumulative) PV Installations in Canada 2011 - 2015 (in MW)
- Japan
- Figure 1-7 Forecasted (Cumulative) PV Installations in Japan 2011 - 2015 (in MW)
- Australia
- Figure 1-8 Forecasted (Cumulative) PV Installations in Australia 2011 - 2015 (in MW)
- China
- Figure 1-9 Forecasted (Cumulative) PV Installations in China 2011 - 2015 (in MW)
- India
- European Union Market
- Table 1-4 Modest Forecasted Installations, Country wise, EU 2008 - 2015 (in MW)
- Table 1-5 Accelerated Forecasted Installations, by Country, EU 2008 - 2015 (in MW)
- Global Market Development
- Figure 1-10 PV Inverter Production Growth 2006-2010 (in MW)
- Micro Inverters and Optimizers
- Figure 1-11 PV Micro Inverter Shipments 2010-2015 (in MW)
- Module Level Power Management Solutions
- Market Trends
- Political Support
- PV cost reductions
- Risks to industry growth
- North American PV Market - USA
- Table 1-6 PV Components production capacity, USA 2011 (in MW)
- Figure 1-12 US PV Inverter Market 2010 - 2015 (in MW)
- Figure 1-13 US PV Inverter Market (Residential) 2010 - 2015 (in MW)
- European Union Market
- Germany
- Italy
- Czech Republic
- France
- Belgium
- Spain
- Greece
- Changing tide, 2010 and beyond
- Figure 1-14 Cumulate PV cell and module installed capacity 2006-2010 (in GW)
- Figure 1-15 Cumulate PV cell and module shipments 2006-2010 (in GW)
- Figure 1-16 PV shipments of leading players 2010 (in MW)
- US Market Analysis
- China PV Production
- Polysilicon demand and supply scenario
- Figure 1-17 Polysilicon production share 2011 (MT)
- Regulatory Environment
- PV Subsidy Programs
- Germany
- Italy
- Table 1-7 Fourth Conta Energia (2011 - 12) Budget cost and Cumulative Installations
- North America
- Asian Countries
- Customer Requirements
- Value offerings
- Owning and Operation cost
- Asset Utilization
- Technology Trends
- Emerging Technologies
- Concentrator PV Technologies (CPV)
- Building Integrated Photovoltaics (BIPV)
- Competitive profiles
- Table 1-8 SMA Solar Technology AG
- Corporate Background
- Product and Brand Portfolio
- Table 1-9 SMA’s Product and Brand portfolio of PV components
- Performance
- Figure 1-18 Annual Revenues of SMA Technology AG, 2006-2010 (in million euros)
- Figure 1-19 Inverter Sales of SMA Technology AG, 2006-2010 (in MW)
- Company News
- Acquisitions
- Outlook
- Personnel Changes
- Chapter 2 Photovoltaic Components - Industry, Markets and Trends
- Photovoltaic inverters
- Micro-inverters
- Power optimizers
- Advantages of Micro-inverters and power optimizers
- Islanding
- Wafers
- Polysilicon
- PV Cells/Modules
- Cost Breakout
- Table 2-1 Inverter Production Capacity 2011 (in MW)
- Emerging Market Analysis
- China
- Figure 2-2 China PV Installations 2006 - 2015 (MW)
- Figure 2-3 China PV Cell Production 2005 - 2010 (MW)
- Figure 2-4 China Solar Inverter Shipments 2010-2015 (in GW)
- India
- Figure 2-5 India Solar Insolation Levels
- Rest of Asia
- Malaysia
- South Korea
- Rest of Asia
- Latin America & MENA (Middle East and North Africa)
- Supply Demand Scenario
- Polysilicon
- Modules
- Figure 2-6 Polysilicon Spot Price Trends 2008 - 2015 ($/Kg)
- Figure 2-7 Average Selling Price Trends, Modules 2008 - 2015 ($/Kg) 57
- Inverters
- Demand Landscape
- Chapter 3 PV Industry and Inverter Markets
- Photovoltaic Market Assessment
- Table 3-1 Cost of Solar Electricity Generation 2010 - 2030 (in USD/W)
- Table 3-2 Module and cell efficiency (in %)
- Source: International Energy Agency [IEA], Photovoltaic Power Systems Program.
- Table 3-3 Year on Year PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
- Table 3-4 Cumulate PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
- Figure 3-1 Cumulate PV Installed Capacity, Major Countries and Rest of the world 2008-2010 (in MW)
- Growth Country Market Beyond 2010
- Figure 3-2 Cumulative PV Installed Capacity of Growing Markets outside EU as of 2010 (in %)
- Growth Country Market Scenario
- USA
- Figure 3-3 Forecasted (Cumulative) PV Installations in US 2011 - 2015 (in MW)
- Canada
- Figure 3-4 Forecasted (Cumulative) PV Installations in Canada 2011 - 2015 (in MW)
- Japan
- Figure 3-5 Forecasted (Cumulative) PV Installations in Japan 2011 - 2015 (in MW)
- Australia
- Figure 3-6 Forecasted (Cumulative) PV Installations in Australia 2011 - 2015 (in MW)
- China
- Figure 3-7 Forecasted (Cumulative) PV Installations in China 2011 - 2015 (in MW)
- India
- European Union Market
- EU Market Beyond 2010
- Figure 3-8 Cumulative PV installations break up, EU (Cumulative) 2010
- Figure 3-9 Forecasted Cumulative Installations, EU (Modest and Accelerated Scenario) 2011 - 2015 (in MW)
- Table 3-5 Modest Forecasted Installations, Country wise, EU 2008 - 2015 (in MW)
- Table 3-6 Accelerated Forecasted Installations, by Country, EU 2008 - 2015 (in MW)
- Table 3-7 NREAP Targets and Percentage Share 2015 - 2020 (in MW)
- World Market Beyond 2010
- Table 3-8 World Market 2011 - 2015 (in MW)
- Figure 3-10 Share of EU, Based on Modest Growth 2010 - 2015 (in %)
- Figure 3-11 Current and Forecasted Share of World Market in PV Installations (Cumulative) 2010 V/s 2015 (in %)
- Figure 3-12 PV Inverter Production Growth 2006-2010 (in MW)
- Table 3-9 Inverter Supply and Demand 2009 - 2011 (in GW)
- Global Market Development
- Figure 3-13 PV Inverter Market Size 2009-2011 (USD Bn)
- Micro Inverters and Optimizers
- Figure 3-14 PV Micro Inverter Shipments 2010-2015 (in MW)
- Figure 3-15 Forecasted PV Inverter Shipments, Modest & Accelerated Scenario 2011 - 2015 (in GW units)
- Figure 3-16 PV Inverter Shipments - annual growth under moderate scenario 2010 - 2015 (in GW units)
- Module Level Power Management Solutions
- Table 3-10 Average Selling Price Forecast for MLPM 2010 - 2015 (in US$/Watt)
- Figure 3-17 PV Revenue Growth 2005 - 2010 (in USD Billions)
- Market Trends
- Figure 3-18 PV Inverter Growth Projections 2015 - 2020 (in GW)
- Political Support
- PV cost reductions
- Risks to industry growth
- Table 3-11 Efficiency Road Map 2020 & 2030/50 (in %)
- Figure 3-19 Average Selling Price Forecast for MLPM 2010 - 2015 (in US$/Watt)
- Geographic Analysis
- Table 3-12 Average Growth Rate, Forecasted Capacity and IEA road map comparison 2011 - 2020 (in %)
- Figure 3-20 Cumulative PV growth under Moderate and Accelerated Scenarios 2011 - 2020 (in GW)
- North American PV Market - USA
- Table 3-13 PV Components production capacity, USA 2011 (in MW)
- Figure 3-21 US PV Inverter Market 2010 - 2015 (in MW)
- Figure 3-22 US PV Inverter Market (Residential) 2010 - 2015 (in MW) 90
- European Union Market
- Germany
- Figure 3-23 PV Installations, Germany (Modest & Accelerated Scenario) 2010 - 2015 (in GW)
- Figure 3-24 PV Inverter Production, Germany 2011 - 2015 (in GW)
- Figure 3-25 PV Installations break out by wattage, Germany 2010
- Italy
- Figure 3-26 PV Installations, Italy (Modest & Accelerated Scenario) 2010 - 2015 (in GW)
- Table 3-13 Conto Energia IV Highlights 2011 - 12
- Czech Republic
- France
- Belgium
- Spain
- Greece
- Table 3-14 PV Installations, Rest of EU 2008 - 2010 (in GW)
- Chapter 4 PV Inverter and Components (Cell and Modules) Industry Trends
- PV Inverters Industry Overview
- Changing tide, 2010 and beyond
- PV Inverter Components
- PV cells
- Modules
- Thin films
- Production and Shipment Trends of PV Components (Cells & Modules)
- Figure 4-1 Cumulate PV cell and module installed capacity 2006-2010 (in GW)
- Figure 4-2 Cumulate PV cell and module shipments 2006-2010 (in GW)
- Figure 4-3 PV shipments of leading players 2010 (in MW)
- Figure 4-4 Price trends of PV modules and cells 2008 - 2011 (USD/watt)
- US and China Market Analysis, PV components
- US Market Analysis
- Figure 4-5 PV cell and module shipments 2005-2020
- China PV Production
- Polysilicon demand and supply scenario
- Figure 4-8 Price trends of Polysilicon 2008 - 2011 (USD/Kg)
- Figure 4-9 Polysilicon production share 2011 (MT)
- Regulatory Environment
- PV Subsidy Programs
- Germany
- Italy
- North America
- Asian Countries
- Customer Requirements
- Value offerings
- Owning and Operation cost
- Asset Utilization
- System Yield
- Other Requirements
- Technology Trends
- Thin Films
- Crystalline Silicon (c-Si)
- Table 4 - 4 c-Si efficiency trends
- Emerging Technologies
- Concentrator PV Technologies (CPV)
- Building Integrated Photovoltaics (BIPV)
- Disruptive Technologies
- Monitoring Systems
- Chapter 5 Competitive Profiles
- SMA Solar Technology AG
- Corporate Background
- Product and Brand Portfolio
- Table 5-1 SMA’s Product and Brand portfolio of PV components
- Performance
- Figure 5-1 Annual Revenues of SMA Technology AG, 2006-2010 (in million euros)
- Figure 5-2 Inverter Sales of SMA Technology AG, 2006-2010 (in MW)
- Company News
- Acquisitions
- Outlook
- Personnel Changes
- KACO New Energy, Inc.
- Corporate Background
- Product and Brand Portfolio
- Table 5-2 KACO’s Product and Brand portfolio of PV components
- Company News
- Partnerships
- Outlook
- Power - One
- Corporate Background
- Product and Brand Portfolio
- Table 5-3 Power-One Product and Brand portfolio of PV components
- Performance
- Figure 5-3 Sales revenue trend of Power-One, 2008-2010 (in $ Mn)
- Company News
- Acquisitions
- Outlook
- Personnel Changes
- Danfoss Solar
- Corporate Background
- Product and Brand Portfolio
- Table 5-4 Danfoss Product and Brand portfolio of PV components
- Performance
- Figure 5-4 Sales revenue trend of Danfoss, 2007-2010 (in DKK Mn)
- Outlook
- Personnel Changes
- Advanced Energy
- Corporate Background
- Product and Brand Portfolio
- Table 5-5 Advanced Energy Product and Brand portfolio of PV components
- Performance
- Figure 5-5 Sales revenue trend of Advanced Energy, 2008-2010 (in $ Mn)
- Company News
- Acquisitions and Diversification
- Outlook
- Personnel Changes
- Suntech Power
- Corporate Background
- Product and Brand Portfolio
- Table 5-6 Suntech Power Product and Brand portfolio of PV components
- Performance
- Figure 5-6 Sales revenue trend of Suntech Power, 2007-2011E (in $ Mn)
- Figure 5-7 PV Shipments of Suntech Power, 2007-2011E (in MW)
- Company News
- Joint Ventures and Partnerships
- Outlook
- Personnel Changes
- First Solar
- Corporate Background
- Product and Brand Portfolio
- Table 5-7 First Solar Product and Brand portfolio of PV components
- Performance
- Figure 5-8 Sales revenue trend of First Solar 2007-2011E (in $ Bn)
- Figure 5-9 Growth in production capacity, First Solar 2005-2012E (in MW)
- Figure 5-10 Decreasing manufacturing cost, First Solar 2006-2010 (in $/watt)
- Company News
- Acquisitions
- Outlook
- Personnel Changes
- JA Solar
- Corporate Background
- Product and Brand Portfolio
- Table 5-8 JA Solar Product and Brand portfolio of PV components
- Performance
- Figure 5-11 Sales revenue trend of JA Solar 2006-2010 (in RMB mn)
- Company News
- Acquisitions
- Outlook
- Personnel Changes
- Trina Solar
- Corporate Background
- Product and Brand Portfolio
- Table 5-9 Trina Solar Product and Brand portfolio of PV components 160
- Performance
- Figure 5-12 Sales revenue trend of Trina Solar 2006-2010 (in $ Bn)
- Company News
- Partnerships
- Outlook
- Personnel Changes
- Yingli Solar
- Corporate Background
- Product and Brand Portfolio
- Table 5-10 Yingli Solar Product and Brand portfolio of PV components
- Performance
- Figure 5-13 Sales revenue trend of Yingli Solar 2007-2010 (in $ Bn)
- Company News
- Joint Ventures
- Outlook
- Satcon
- Corporate Background
- Product and Brand Portfolio
- Table 5-11 Satcon Solar Product and Brand portfolio of PV components
- Performance
- Figure 5-14 Sales revenue trend of Satcon 2006-2010 (in $ Mn)
- Company News
- Partnerships
- Outlook
- Personnel Changes
- Sunpower
- Corporate Background
- Product and Brand Portfolio
- Table 5-12 Sunpower Solar Product and Brand portfolio of PV components
- Performance
- Figure 5-15 Sales revenue trend of Sunpower Corporation 2006-2010 (in $ Bn)
- Company News
- Acquisitions
- Outlook
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