Global shipments of PV modules to exceed $8bn by 2009

1 March 2005 – Total shipments of photovoltaic (PV) modules are expected to reach 2783.1 MW by 2009, with a value of $8.2bn, according to a soon to be released report from Business Communications Company, Inc.

RE-038V Photovoltaics: Markets and Technologies, has predicted that shipments of PV modules will rise from 973.1 MW in 2004 at an average annual growth rate (AAGR) of 23.4 per cent.

The report also found that silicon technology, which accounted for approximately 90 per cent of the PV market in 2003, would continue to dominate through to 2009, the end of the forecasted period. Thin films, which are an experiment in manufacturing lower cost PV modules, were found to have slipped to less than ten per cent of the market. However, this trend should be reversed in the future after recent improvements in efficiency.

New technologies, such as dye-sensitized solar cells and modules made by nanotechnology processes, were predicted to appear for commercial consumption by 2005. It was thought that their flexibility and lower cost would help propel their growth into the next decade.

The value of worldwide shipments of modules was estimated at $4.7bn in 2004 and although shipments are expected to rise, the study predicted that future reductions in cost, brought by economies of scale and improved production methods, would dampen the growth rate in the value of PV shipments.