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Spurred by major and emerging markets, global photovoltaic (PV) demand has grown substantially this year. According to the latest Gold Member Report by EnergyTrend, a division of TrendForce, installed capacity worldwide for 2015 is estimated at 53GW, amounting to a 20% year-on-year growth. Next year’s total installed capacity is expected to reach 59GW, up 11% in annual growth.
The global xEVs (x-electric vehicles) market has performed impressively this year mainly because of the Chinese market, which has expanded due to strong government support. EnergyTrend, a division of TrendForce, estimates that xEV sales in China will grow 20% year on year to 130,000 units in 2015; and the share of BEVs (battery electric vehicles) in China’s xEV sales this year will also reach 64%.
The downward revision of income tax credit for photovoltaic systems for next year in the U.S. has resulted in a general installation boom, which is prolonged by the planned feed-in tariff (FiT) reduction by the Chinese government also in 2016. The global PV demand is therefore expected to remain strong and generally unaffected by next year’s off-peak season.
China’s National Reform and Development Commission has announced that there will be no significant reduction in feed-in tariff (FiT) rates for the country’s photovoltaic (PV) power plants in 2016. In its report on improving FiT policies for onshore wind and PV electricity, the commission states that the FiT rates for solar energy resource region one will drop by 5.56% next year.
Soaring demand from China, Japan and the U.S. ensures that the first-tier photovoltaic (PV) module manufacturers are booked in orders up to the first quarter of 2016. Currently, prices are rising for all multi-Si products from wafers to cells and modules, with wafers having the largest increase due to news of supply shortages.
