Global PV Market Exceeded 7 GW in 2009

May 21, 2010 12:20 PM

Almost 7.5 GW of new PV capacity was added worldwide in 2009 according to latest confirmed results from IMS Research.

On 9th April, the German Federal Network Agency finally released its December figures for new PV installations confirming IMS Research's earlier predictions that the German market grew massively in 2009 to reach 3.8 GW, and in fact the global PV market saw double-digit growth.

PV Research Director, Ash Sharma commented, "An incredible 1.5 GW of new capacity was installed in Germany in December. This was earlier predicted by IMS Research which measured inverter shipments at 3.5 GW in Q4'09, and also predicted that the global PV market grew by 25% to exceed 7 GW."

"Despite many in the industry predicting a much smaller market size in 2009, with some even stating the market had declined, IMS Research, which analyzed multiple parts of the PV supply chain previously predicted this strong growth. As such, it still stands by its prediction that the PV market - in terms of both shipments of modules and inverters and new installed capacity grew at a double-digit rate in 2009 to exceed the 7 GW mark".

Despite the upcoming cut to Germany's FIT, IMS Research still forecasts the global PV market will grow in 2010, up to 10 GW in terms of new installations with strong demand coming from many different countries.

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