Global PV Module Revenue to Reach Record $41.9 Billion in 2016

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by Kelly Pickerel. Originally published on solarpowerworldonline.com

A period of strong growth in the global photovoltaic (PV) module industry is expected, thanks to a new wave of capacity expansions, a relatively stable pricing environment and increasing demand from several established regional markets. Growth will continue into 2016, when module shipments will exceed 2015 shipments by 10 percent, according to IHS Inc., the leading global source of critical information and insight.

Due to stable pricing and increased shipments, global 2016 PV module revenue is forecast to hit $41.9 billion, exceeding the previous record set in 2010 by 4 percent. PV module shipments in the fourth quarter of 2015 are expected to rise 29 percent, year over year, reaching 18.7 gigawatts (GW) in the quarter.

“Compared to prior years, this period of strong growth in solar installation demand, coupled with tight supply, will support relatively robust pricing,” said Edurne Zoco, senior principal analyst for IHS Technology. “In fact average annual prices are forecast to decline significantly less than in previous years.”

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