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Global solar PV market exceeded 7 GW in 2009

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

German figures for new solar PV installations confirmed IMS Research’s earlier predictions that the German market grew “massively” reaching 3.8 GW in 2009; and that the global solar PV market saw double-digit growth.

PV Research Director at IMS Research, Ash Sharma, says: “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 analysed 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 feed-in tariff, IMS Research still forecasts the global solar PV market will grow in 2010, up to 10 GW in terms of new solar PV installations with strong demand coming from many different countries.

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Photovoltaics (PV)  •  Policy, investment and markets