Global photovoltaic module shipments in 2016 will exceed the figures for 2015 by 10 percent, according to IHS, a global source of critical information and insight.
Capacity expansion in the photovoltaic module industry is expected to bring strong growth, stable pricing environment and increasing demand from several established regional markets, the report says.
In monetary terms, the total module shipment figure for next year is expected to be $41.9 billion. It exceeds the previous record set in 2010 by 4 percent.
The report adds that photovoltaic module shipments in Q4, 2015, are expected to rise by 29 percent, year on year, and reach 18.7 gigawatts in the quarter.
According to Edurne Zoco, senior principal analyst for IHS Technology, strong growth in solar installation demand coupled with tight supply will support relatively robust pricing.
“In fact average annual prices are forecast to decline significantly less than in previous years,” Zoco says.
In 2017, the photovoltaics market in the United States is forecast to experience a significant decline as the government will reduce federal investment tax credit (ITC).
The move is expected to contribute to global decline in demand for photovoltaic modules and module prices are expected to decline by 9 percent.
Competition will intensify, which will lead to accelerating declines in prices and gross margins for the first time since 2012, the report says.
Ajith Kumar S