The Fraunhofer Institute for Solar Energy Systems, ISE with support of PSE Projects GmbH prepared a report on the Photovoltaics market and the key trends over 2020. Following are the key highlights from the report:
- Photovoltaics is a fast-growing market: The Compound Annual Growth Rate (CAGR) of cumulative PV installations including off-grid was 34% between year 2010 to 2020.
- In year 2020 producers from Asia count for 95% of total c-Si PV module production. China (mainland) holds the lead with a share of 67%. Europe contributed with a share of 3%; USA/CAN with 2%.
- Wafer size increased enabling larger PV module size allowing a power range from +600 W per module.
- In 2020, Europe’s contribution to the total cumulative PV installations amounted to 22% (compared to 24% in 2019). In contrast, installations in China accounted for 33% (same value as the year before).
- Si-wafer based PV technology accounted for about 95% of the total production in 2020. The share of mono-crystalline technology is now about 84% (compared to 66% in 2019) of total c-Si production.
- Market shifts from subsidy driven to competitive pricing model (Power Purchase Agreements PPA).
Check out the summary of the report in this presentation prepared by the Fraunhofer Institute for Solar Energy Systems by clicking here
