After its best year ever in 2008, the world solar market struggled to survive a tumultuous 2009. What looked like a yawning drop for the photovoltaic (PV) market in the first half of the year turned into a solid gain in total amount of systems installed on the strength of strong German sales in the fourth quarter. But despite annual worldwide PV installations rising from 5.8 GW in 2008 to 6.6 GW in 2009, the PV market value dropped by 15.8% to $17.0 billion due to crashing PV cell and module prices. The U.S. fared better than most countries, with the PV market up an estimated 6.0% in 2009 to $3.5 billion and PV installations rising to 469 MW. An extension of the solar tax credit and new recovery act funding helped to keep the U.S. PV market on a continuing upward trend. The U.S. represented only 1% of a world solar thermal collector market dominated by China in 2009, shipping 1.0 GW of collectors worth $79.6 million. While still currently focused on low temperature pool heating systems that represented 82% of the U.S. market (by megawatts of collectors shipped) in 2009, SBI Energy anticipates much stronger growth in residential hot water systems heading to 2014. Worldwide, the U.S. still has the greatest potential to increase its position in the solar market. SBI Energy foresees 900 MW of PV installations in 2010, rising to 7,600 MW of PV installations in 2014 building on renewed interest in solar from utilities and the extension of the solar tax credit. While the ST market will show only moderate growth in the U.S., the PV market segment will continue to shine in the U.S. and the concentrated solar power (CSP) market is set to explode. SBI Energy estimates the U.S. solar panel market will reach $34.5 billion in 2014. U.S. Solar Energy Market World Data, 2nd Edition by SBI Energy analyzes the manufacturing and sales of the U.S. solar photovoltaic and solar thermal markets within the context of other key solar countries such as the Germany, Spain, Japan and China. The analysis will include definitions, current product offerings and market detail on the following segments:
Read an excerpt from this report below. Report MethodologyThis report contains both primary and secondary data obtained from government sources, trade associations and publications, business journals, scientific papers, company literature, investment reports, and interviews with industry professionals. Statistics describing the production and sale of solar products in the U.S. are primarily through the U.S. Energy Information Administration. World solar product data comes from sources such as the International Energy Agency and the EurObserv’ER Barometer published by the EurObserv’ER consortium What You’ll Get in This Report U.S. Solar Energy Market World Data, 2nd Edition provides a concise, focused look on the photovoltaic and solar thermal market as it exists today, and shows where the market is moving over the next five years. The report highlights key players in the industry and pinpoints ways that current and prospective competitors can capitalize on recent trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that U.S. Solar Energy Market World Data, 2nd Edition offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs. How You’ll Benefit from this Report If your company is already doing business related to solar electric power generation or solar thermal heating technologies, or is considering making the leap, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for all aspects of electric vehicles, as well as projected markets and trends through 2014. This report will help:
Market Insights: A Selection From The Report U.S. Solar Thermal Shipment Demographics The solar thermal market in the U.S. is not quite as regionally concentrated as the PV market, with the top ten states holding 86.1% of the ST market in 2008. The two top states were Florida and California which took a combined 60.7% of ST shipments for the year. Solar Production Costs Six Clean Energy Markets That Will Change Life As We Know It in the Next Five Years
New York, August 26, 2010 - Renewable energy is receiving a big push from the Obama Administration and from governments around the globe. Stimulus packages and government incentives for green technology has created jobs and established new industry, which in turn has sparked a brighter outlook on the world's economy. Going into 2011 and beyond, SBI Energy has identified six clean energies that will not only gain double-digit growth in the next five years, but will also alter the lifestyle we know today. Green Building Materials and Construction - Traditional construction creates considerable debris which ends up in our landfills, soil and fresh water supply. Furthermore, inefficient materials used in construction produce higher energy bills for the homeowner. The judicious use of recycled materials, lumber that is harvested from sustainable forests, more efficient insulation and windows, and improved construction techniques can drop energy bills for consumers while reducing the need for raw materials simultaneously. Market research performed by SBI Energy forecasts the size of the global green building materials market to grow to over $580 billion by 2015 from about $160 billion in 2010. This represents a growth rate of 21% CAGR which is significant but understandable in light of increasing demand for products that save energy and minimize harmful environmental effects. Enhanced Oil Recovery - EOR refers to a variety of oil producing methods, by which 70% - 90% more oil is produced from oil wells than is typically extracted by conventional oil production methods. Some of the more common EOR methods include steam, gas or chemical injection, which improve the viscosity of the oil, enabling the oil to flow more freely out of the well. More oil indicates lower prices. SBI Energy estimates dollars from EOR will climb steadily with some gentle fluctuations. SBI's analysts calculate the EOR market will experience a compound average growth rate (CAGR) of 63% per year over the 6-year span to total $1.3 trillion in 2015. Solar Technology - We've all seen the solar panels on residential home roofs and today energy providers are multiplying this concept by installing large solar farms and using concentrated solar power (CSP) technology to supplement power demands. Electricity from CSP technology is generated like conventional electricity, except solar power is used to heat the boiler instead of fossil fuels. Global CSP installations are just getting started and SBI Energy expects to see real growth in the segment beginning in 2012.CSP is the fastest growing segment within the solar technologies, going from $0.7 billion in 2010 to $3 billion in 2014, a CAGR of 42% for the period. Including systems and panels, SBI Energy sees the world solar market growing to $173 billion in 2014 - a CAGR of 28%. Offshore Wind Farms - Coastal area will have a new view as nations increasingly harness the renewable energy generated by the fierce winds a few miles off their shorelines. During the next five years, SBI Energy expects offshore wind farms to crop up at a much faster pace than land-based turbines. Leading manufacturers of turbines and components are riding the wave of production expected to result from growing interest in offshore projects, such as the recent approvals of Cape Wind in Massachusetts and The Offshore Wind Economic Development Act in New Jersey. Helping them accelerate their offshore initiatives are government cash and tax incentives that promote renewable energy development, particularly in Europe and the U.S. "States are leading the way in off-shore wind development because it spurs economic development, helps to stabilize energy costs, and moves our country towards energy independence in a sustainable fashion," comments Donald Carcieri Governor of Rhode Island. SBI Energy forecasts the global market to grow at a five-year CAGR rate of 11% to reach more than $78 billion. The fastest growth will come from the U.K., which will more than double its offshore market value to reach nearly $5 billion in 2015. Electric Vehicles - For years the marketing and advertising from government and car companies alike have boldly stated that electric cars will take over the car industry “real soon now.” Now, electric vehicles, in the form of hybrids that combine both gas and electric motors, are finally beginning to do just that. The world populace is accepting hybrid electric vehicles, giving them equal weight as an option in their car purchases. Just how quickly this market will grow depends on several factors including gas prices, government incentives and vehicle price. According to market research from SBI Energy worldwide hybrid electric vehicle sales will double from just under 700,000 units sold in 2009 to 1.5 million passenger hybrid vehicles sold in 2014. Exponential HEV market growth will occur in smaller existing markets such as Europe, Australia and South Korea, and in new markets such as India and China where product sold will increase from 95,000 vehicles in 2010 to 440,000 vehicles in 2014, a phenomenal 47% compound annual growth rate. Smart Grid Technologies - Implementing and integrating all of the renewable energies is somewhat contingent on the upgrade of our existing dilapidated 100 year old electrical grid to a powerful sophisticated smart grid system. The smart grid can be seen in broad outline as an architectonic structure consisting of three major sectors: grid infrastructure; information and communications technology (ICT); and applications and software (A/S). Despite consumer concerns over privacy and cost regulation, the smart grid will encourage clean energy production and ensure reliable electrical supply to the world through digital grid operation and a distributed network. SBI Energy sees the global smart grid market soaring upward nearly 150% between 2009 and 2014, reaching $171 billion in 2014. Meanwhile, the U.S. market is projected to double over the timeframe to about $43 billion by 2014. SBI Reports has been leading industrial market research reporting for more than a decade. The brand established SBI Energy to address the complex nature of the Energy and Resources industry. SBI Energy reports capture data vital to emerging energy market sectors on a global scale. Growth of energy technology, manufacturing, construction, transportation and investment is exciting in its innovations and opportunities, and integral to the advancement of security and science. SBI relies upon only the most experienced analysts with excellent credentials, years of industry experience, and the trust of colleagues and peers.
Research for this article is based on the following market studies from SBI Energy: EOR Enhanced Oil Recovery Worldwide Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide Smart Grid and Consumers Global Green Building Materials and Construction, 2nd Editionp> Offshore Wind Farm Manufacturing Worldwide
U.S. Solar Energy Market World Data, 2nd Edition: PV, Solar Thermal, CSP
# # # In the NewsFuture of Global Solar Energy Market Bright after Tumultuous 2009 New York, May 20, 2010 - After experiencing its best year in 2008, the world solar panel market—comprised of the photovoltaic, solar thermal and concentrated solar power market sectors—suffered through a tumultuous 2009, but is poised to rebound in the coming years and ultimately eclipse the $83 billion market in 2014, according to U.S. Solar Energy Market World Data, 2nd Edition by leading industrial market research firm SBI Energy. Future growth is attributed to the anticipated strength of strong photovoltaic module sales in countries such as the United States, Germany, and China, in addition to a continuing strong solar thermal market in the two latter countries. However, it is the concentrated solar power sector that stands to grow the fastest, going from a forecast $0.7 billion in 2010 to $3 billion in 2014, a compound annual growth rate (CAGR) of 42% for the period. “This strong growth for solar as a whole is going to begin in 2010 as sales in the photovoltaic sector continue to accelerate and declines in module and system component prices become far more moderate, along the lines of a 10% to 15% drop rather than the tumultuous 25% to 40% drop experienced in 2009,” says Norman Deschamps, SBI Energy analyst and author of the report. “Equally noteworthy is the reality that global concentrated solar power installations are just getting started and we predict tremendous growth in the segment beginning in 2012.” In the U.S., the solar market has come far since its inception over 30 years ago, but still has a long way to go. While growth has been spectacular since 2002, solar power continues to hold just a fractional share—under 1%—of U.S. energy production. Nevertheless, the U.S. has the greatest potential to increase its position in the solar market. The U.S. photovoltaic market was up an estimated 6% in 2009 to almost $4 billion and photovoltaic installations rose to 469 megawatts, according to SBI Energy. An extension of the solar tax credit and new recovery act funding helped keep the U.S. photovoltaic market on its continuing upward trajectory despite the turmoil that affected other solar market sectors globally. By 2014, photovoltaic installations are forecast to reach 7,600 megawatts by building on renewed interest in solar from utilities and the extension of the solar tax credit. U.S. Solar Energy Market World Data, 2nd Edition provides a comprehensive overview of the rapidly growing market for solar power in the United States and the overall position of the U.S. within the world solar market. In this study, both solar electric and solar thermal technologies are discussed and analyzed; however the primary focus throughout this study is on grid-tied solar electric photovoltaic power, with solar thermal power accorded a secondary focus. This latest edition includes updated information on the photovoltaic, solar thermal and concentrated solar power markets in the U.S. to 2009; expanded market information on thin-film sales and manufacturing worldwide; forecasts expanded through to 2014; and more. About SBI Energy
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