PV sector outlook: an analyst’s perspective

By Vishal Shah, Head of the Cleantech Equity Research Team, Barclays Capital

Solar currently represents less than 0.5% of global electricity generation. However, as renewable electricity gains importance in the US$1 trillion global electricity market, we forecast solar photovoltaic shipments to rise at a compound annual growth rate of 50% for the next four years. We expect an increasing number of countries to promote solar energy as the cost gap between solar and fossil fuel-generated electricity closes. This paper provides an overview of what to expect from the PV market in 2010.