Global newly added PV capacity to grow to 24 GW in 2011

Nov 16, 2011 - Photovoltaic (PV) installations will increase to 24 GW globally in 2011 from 19 GW in 2010, consultancy IMS Research forecasts in a recent report.

The Q4'11 PV Demand Database report finds that global newly added PV capacity topped 8 GW in the first half of the year and will reach 15 GW in the second half.

But the growth in installations has not resulted in increased demand for PV components due to inventory oversupply, the report notes.

Newly added PV capacity in Europe will rise 3% on the year in 2011 and Italy will dethrone Germany as the world's largest market with expected 6.8 GW of PV installations for 2011. The USA will be the third largest market and China the fourth.

Europe's share of global PV installations will fall to 68% in 2011 from 82% in 2010 as the growth in Italy will not compensate for the decline in Germany and the Czech Republic, according to the report. At the same time, the American and Asian markets will account for 85% of the global PV installations in 2011.

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