So, we have been talking quite a lot about PV and its types etc. But how is the market actually looking like?
Following information is something we found in Internet ( research by GTM research group).
U.S. PV Demand grew in 2009 Despite the Recession: Grid-connected PV demand probably reached above 400 MW in 2009, up from 320 MW in 2008. The residential sector and local/state government projects drive demand growth, thanks to stimulus funding and the recently uncapped residential Investment Tax Credit. California retains its dominant market share, accounting for 205 MW in the base case scenario, or 50 percent of national demand. Secondary markets in Arizona, Colorado and New Jersey support demand growth.
U.S. PV Market could become a Global Demand Leader by 2012: Over the next two years, the U.S. will experience the most rapid demand growth of any major PV market. Base case U.S. PV demand will grow approximately to 1,515 MW in 2012, with annual growth from 2008 to 2012 averaging 48 percent. The upside scenario sees demand reaching 2,022 MW in 2012. During this period, the U.S. probably become the second leading PV market in the world behind Germany.
Investment in the U.S. PV Market probably will triple by 2012 to Over $6 Billion: Base-case investment in U.S. PV projects will reach $6.12 billion in 2012, up from $2.35 billion in 2009. Average annual growth will be 37.6 percent. Utility-scale project investment expands the fastest at 56 percent per annum, reaching $1.48 billion in 2012. In the upside scenario, total investment reaches $8.17 billion in 2012 at an average annual rate of 41.1 percent.
In next blog, we plan to put a cost metric around PV installation and some market factors.