Feb 13, 2018

Solar photovoltaic (PV) is the third-most deployed renewable technology in terms of global installed capacity, after small hydro and wind. Solar PV will play a significant role in future energy supply, as the countries around the world looks to this resource to meet growing energy demand.

The technological advancement and the availability of more effective and reliable equipment and machinery, the worldwide market for solar PV increased rapidly, evident from the high year-on-year (YoY) growth rate of cumulative installed capacity between 2006 and 2016. Growing environmental concern has been the key driver for renewable energy, as countries across the world have sought to achieve energy stability and independence, and to minimize their carbon footprints.

Global solar PV cumulative installed capacity increased at a compound annual growth rate (CAGR) of 48.9% from 5.6 gigawatts (GW) in 2006 to 303 GW in 2016, of which 76.3 GW was added in 2016. The cumulative installed solar PV capacity more than doubled since 2013. Installed capacity increased from 135.9 GW in 2013 to 303 GW in 2016.

Solar PV installations are especially pushed through government support mechanisms, reduction in expenses, and improved financing options. With persevered advancement in technology and upgrades in project economics, the increase momentum of this sector is predicted to grow the coming years. the global cumulative installed capacity for solar PV is expected to attain 969 GW by 2025, at a CAGR of 13.8% during 2016-2025.

Contents of the Report

  • Executive Summary
    • Global installed solar PV capacity reached 303 GW in 2016
    • China continues to lead global solar PV market in 2016
    • Asia-Pacific remains the largest regional PV power market in 2016
    • Global PV Market size set to reach $43.5 billion by 2025
    • JinkoSolar Holding is the largest crystalline solar module supplier in the world
  • Introduction
    • Solar Photovoltaic Technology
    • Types of Solar Modules
      • Crystalline Silicon Modules
      • Thin-film Technology
    • Nature of Solar Installations
      • By Grid Connectivity
      • End User Type
    • GlobalData Report Guidance
  • Solar PV Market, Global
    • Solar PV Market, Global, Overview
    • Solar PV Market, Global, Installed Capacity, 2006-2025
      • Solar PV Market, Global, Installed Capacity by Region, 2006–2025
      • Solar PV Market, Global, Cumulative Installed Capacity by Key Countries in 2016
      • Solar PV Market, Global, Annual Installed Capacity by Key Countries in 2016
    • Solar PV Market, Global, Generation, 2006-2025
      • Solar PV Market, Global, Generation by Region, 2016-2025
      • Solar PV Market, Global, Power Generation by Key Countries
    • Solar PV Market, Global, Market Forces Analysis
      • Solar PV Market, Global, Market Drivers
      • Solar PV Market, Global, Key Restraints
    • Solar PV Market, Global, Average System Price and Market Size, 2012–2025
    • Solar PV Market, Global, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, Germany
    • Solar PV Market, Germany, Overview
    • Solar PV Market, Germany, Installed Capacity, 2006–2025
      • Solar PV Market, Germany, Installed Capacity by State, 2016
      • Solar PV Market, Germany, Cumulative Installed Capacity Share by Type of Installations, 2016
    • Solar PV Market, Germany, Power Generation, 2006–2025
    • Solar PV Market, Germany, Key Drivers
      • Tenders to drive large-scale solar PV installations in the country
      • Feed-in Tariff to drive small solar PV installations in the country
    • Solar PV Market, Germany, Key Restraints
      • Reduction in feed-in tariff can limit new installations in the country
      • Direct Marketing increases the additional costs
    • Solar PV Market, Germany, Average Capital Cost and Market size, 2010–2025
    • Solar PV Market, Germany, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, UK
    • Solar PV Market, UK, Overview
    • Solar PV Market, UK, Installed Capacity, 2010–2025
      • Solar PV Market, UK, Installed Capacity by State, 2016
      • Solar PV Market, UK, Installed Capacity by End User Segment, 2016
      • Solar PV Market, UK, Installed Capacity by Type of Accreditation, 2011–2016
    • Solar PV Market, UK, Power Generation, 2006–2025
      • Solar PV Market, UK, Average Load Factor, 2010-2016
    • Solar PV Market, UK, Key Drivers
      • Feed-in Tariffs to drive small-scale solar PV installations in the country
      • Reducing system cost will drive the solar PV installations
      • Contract for Difference (CfD) to drive large-scale PV installations in the future
    • Solar PV Market, UK, Restraints
      • Uncertainty over government support to restrain PV growth
      • Low solar potential and land issue is still a major hurdle
      • Grid integration issues will delay the PV installations in the near term
    • Solar PV Market, UK, Average System Price and Market Size, 2010–2025
    • Solar PV Market, UK, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, France
    • Solar PV Market, France, Overview
    • Solar PV Market, France, Installed Capacity, 2006–2025
      • Solar PV Market, France, Installed Capacity by State, 2016
      • Solar PV Market, France, Annual Installed Capacity Share by Type of Installations, 2016
      • Solar PV Market, France, Installed Capacity Share by End User Segment, 2016
      • Solar PV Market, France, Cumulative Installed Capacity Share by T&D Companies, 2016
    • Solar PV Market, France, Power Generation, 2006–2025
    • Solar PV Market, France, Key Drivers
      • Tenders to drive the large-scale PV installations in the country
      • Self-consumption tender will promote the commercial and industrial PV installations
      • New site installations such as solar roads will be the next PV market segment
      • Financial incentives will drive the PV installations
    • Solar PV Market, France, Key Restraints
      • Increased VAT rate might lead to increase in the equipment cost
      • Declining government subsidy will hinder the PV growth
    • Solar PV Market, France, Average System Price and Market Size, 2010–2025
    • Solar PV Market, France, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, US
    • Solar PV Market, US, Overview
    • Solar PV Market, US, Installed Capacity, 2006–2025
      • Solar PV Market, US, Installed Capacity by Type of Installations, 2013–2016
      • Solar PV Market, US, Installed Capacity by State, 2016
      • Solar PV Market, US, Installed Capacity Share by End User Segment, 2006–2016
    • Solar PV Market, US, Power Generation, 2006–2025
    • Solar PV Market, US, Key Drivers
      • Renewable Portfolio Standards (RPS) are driving utility-scale projects
      • Financial Incentives will be the major driver for PV additions in the country
      • Growth in PV installations is driven by reduced system cost
      • Rural Energy for America program: Grants
    • Solar PV Market, US, Key Restraints
      • Repealing of Investment Tax Credit and changing metering policies could slow down the US solar market
      • Grid Integration remains a major challenge
    • Solar PV Market, US, Average System Price and Market Size, 2010–2025
    • Solar PV Market, US, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, Canada
    • Solar PV Market, Canada, Overview
    • Solar PV Market, Canada, Installed Capacity, 2006–2025
      • Solar PV Market, Canada, Installed Capacity by State, 2016
      • Solar PV Market, Canada, Installed Capacity by End User Segment, 2016
      • Solar PV Market, Canada, Cumulative Installed Capacity Share by Grid Connectivity, 2012- 2016
    • Solar PV Market, Canada, Power Generation, 2006–2025
    • Solar PV Market, Canada, Key Drivers
      • Renewable electricity program and green energy commitment will drive the PV market in the country
      • Net metering and FiTs a key driver for solar PV additions in the near term
    • Solar PV Market, Canada, Restraints
      • Huge Potential of other low carbon energy options
    • Solar PV Market, Canada, Average System Price and Market Size, 2010–2020
    • Solar PV Market, Canada, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, Brazil
    • Solar PV Market, Overview
    • Solar PV Market, Brazil, Installed Capacity, 2010–2025
      • Solar PV Market, Brazil, Cumulative Installed Capacity by State, 2016
      • Solar PV Market, Brazil, Cumulative Installed Capacity by End User Segment, 2016
    • Solar PV Market, Brazil, Power Generation, 2006–2025
    • Solar PV Market, Brazil, Key Drivers
      • Net metering to facilitate the small solar generators
      • Auctions to drive the solar PV market in the country
      • New innovations such as floating solar plant will facilitate the PV market growth
      • Favorable natural conditions and strong power demand will drive the solar PV market
    • Solar PV Market, Brazil, Restraints
      • Lack of financing policies will still be a major hurdle for PV projects
      • Lack of expertise in PV technology can slow down the growth of PV market
    • Solar PV Market, Brazil, Average System Price and Market Size, 2010–2025
  • Solar PV Market, China
    • Solar PV Market, China, Overview
    • Solar PV Market, China, Installed Capacity, 2006–2025
      • Solar PV Market, China, Annual Installed Capacity by Provinces, 2016
      • Solar PV Market, China, Annual Installed Capacity Share by Type of Installations, 2016
      • Solar PV Market, China, Cumulative Installed Capacity Share by Grid Connectivity, 2006–2016
      • Solar PV Market, China, Annual Installed Capacity Share by End User Segment, 2010-2016
    • Solar PV Market, China, Power Generation, 2006–2025
    • Solar PV Market, China, Key Drivers
      • Government policies will the major driver for PV installations in the country
      • Deployment of Floating solar PV will give new dimension to PV market
      • Feed-in tariff to drive the PV market
      • Government program targeted at poverty alleviation to drive residential PV installations
      • Government willingness to promote R&D in technical advancements will drive improvement in system efficiencies and increase of installations
    • Solar PV Market, China, Restraints
      • High costs remain a major obstacle to the development of PV power generation
      • Consumptive and network operation are still more restricted.
    • Solar PV Market, China, Average System Price and Market Size, 2010–2025
    • Solar PV Market, China, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, Japan
    • Solar PV Market, Japan, Overview
    • Solar PV Market, Japan, Installed Capacity, 2006-2025
      • Solar PV Market, Japan, Cumulative Installed Capacity by Utility Companies, 2016
      • Solar PV Market, Japan, Annual Installed Capacity by End User Segment, 2011–2016
      • Solar PV Market, Japan, Annual Installed Capacity Share by Type of Installations, 2013–2016
      • Solar PV Market, Japan, Cumulative Installed Capacity Share by Grid Connectivity, 2006–2016
    • Solar PV Market, Japan, Power Generation, 2006–2025
    • Solar PV Market, Japan, Key Drivers
      • Tenders to drive the utility-scale installations
      • Introduction of Zero Energy House (ZEH) and Zero Energy Building (ZEB) to promote residential and rooftop installations
    • Solar PV Market, Japan, Key Restraints
      • Grid Integration Issues hinder PV market development
      • Reduced FiT rates can restrain PV growth in the country
    • Solar PV Market, Japan, Average System Price and Market Size, 2010–2025
    • Solar PV Market, Japan, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, India
    • Solar PV Market, India, Overview
    • Solar PV Market, India, Installed Capacity, 2010-2025
      • Solar PV Market, India, Cumulative Installed Capacity by State, July 2017
      • Solar PV Market, India, Annual Installed Capacity Share by End User Segment for Rooftop PV, 2016
      • Solar PV Market, India, Cumulative Installed Capacity Share by Grid Connectivity, 2013–2016
    • Solar PV Market, India, Power Generation, 2009–2025
    • Solar PV Market, India, Key Drivers
      • Government’s solar power target promotes PV installations in the country
      • Auctions to drive the PV growth in India
      • Net metering and Feed-in Tariffs attract residential and commercial segments to install solar PV systems
      • The extension of waiver period for interstate transmission charges and losses will attract more players to invest in PV sector in near term
    • Solar PV Market, India, Key Restraints
      • Grid integration issues can hinder the new PV additions
      • Highly competitive tariff might create uncertainty in the PV power market
      • Land procurement still be a major hurdle for PV market
      • Lack of funding and introduction of new tax regime might slow down the PV installations in near future
    • Solar PV Market, India, Average Capital Cost and Investment, 2010–2025
    • Solar PV Market, India, Crystalline Module Manufacturers Market Share, 2016
  • Solar PV Market, Republic of Korea
    • Solar PV Market, Republic of Korea, Overview
    • Solar PV Market, Republic of Korea, Installed Capacity, 2006-2025
      • Solar PV Market, Republic of Korea, Cumulative Installed Capacity by Prefecture/City, 2015
      • Solar PV Market, Republic of Korea, Annual Installed Capacity by End User Segment, 2010–2016
      • Solar PV Market, Republic of Korea, Annual Installed Capacity by Type of Installations, 2016
      • Solar PV Market, Republic of Korea, Cumulative Installed Capacity Share by Grid Connectivity, 2015–2016
    • Solar PV Market, Republic of Korea, Power Generation, 2006–2025
    • Solar PV Market, Republic of Korea, Key Drivers
      • Renewable Energy Supply Certificate (RECs) and Renewable Portfolio Standard (RPS) quota will facilitate the PV installations in the near term.
      • NRE Deployment Programs to drive the residential and commercial PV installations in the country
      • Deployment of Floating solar PV will provide new dimension to the PV market
    • Solar PV Market, Republic of Korea, Key Restraints
      • Lack of government financial incentives such as net metering and self-consumption measures tend to discourage the small consumers.
      • Lack of financing options and cost support measures will discourage the investors
    • Solar PV Market, Republic of Korea, Average System Price and Market Size, 2010–2025
    • Solar PV Market, Republic of Korea, Crystalline Module Manufacturers Market Share, 2015
  • Solar PV Market, South Africa
    • Solar PV Market, South Africa, Overview
    • Solar PV Market, South Africa, Installed Capacity, 2011–2025
      • Solar PV Market, South Africa, Annual Installed Capacity Share by Type of Installation, 2016
      • Solar PV Market, South Africa, Annual Installed Capacity Share by End User Segment, 2016
    • Solar PV Market, South Africa, Power Generation, 2011–2025
    • Solar PV Market, South Africa, Key Drivers
      • Solar PV installations in the country are majorly driven by REIPPPP
      • Tax Exemptions and Allowances are supporting the development of PV market
      • Government renewable energy sources and CO2 Emission Target to drive the PV installations
    • Solar PV Market, South Africa, Key Restraints
      • Grid Integration Issues to hinder the PV growth in the country
      • Eskom’s refusal to sign new PPAs can cause uncertainty in the market
      • Local Content in REIPPPP might lead to high cost of PV installations
    • Solar PV Market, South Africa, Average System Price and Market Size, 2011–2025
    • Solar PV Market, South Africa, Crystalline Module Manufacturers Market Share, 2016
  • Appendix
    • Abbreviations
    • Bibliography
    • Methodology
      • Coverage
      • Secondary Research
      • Primary Research
      • Modeling and Forecasting

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