Date: 26/11/2008

Solar market revenues booming at growth exceeding 75%

Amid the energy crisis and economy crisis, the solar PV cell and solar PV module market (PV module) market is registering excellent growth. Most of the company's revenue growth is exceeding 100%.

It looks like the solar PV market growth is exceeding analyst's expectations and its in-fact zooming. Here below listed is the solar cell and related product revenues from ten randomly selected companies.

Company Revenue (in US$) Growth
Suntech 0.59 billion (3Q08) 53.70%
JA Solar Holdings $0.31 billion (3Q08) 71.5%
GT Solar International $140.2 million (3Q08) 70%
Centrothermphotovoltaics AG 307 million (1st 9 months of 08) >200%
Sunways AG 162.35 million (1st 9 months of 08) 41%
Day4 Energy 31.7 million (3Q08) >100%
Moser Baer 27.7 million (3Q08) <200%
Real Goods Solar $10.3 million (3Q08) >100%
Spire 17.5 million (3Q08) 78%
ARISE Technologies 15.9 million (3Q08) >100%
*The company ranking is by revenue, the last two in the list are solar manufactoring equipment suppliers

The average growth rate is far exceeding 75% in 3Q08 compared to 2Q08 of same year. Companies from India and China are placing large number of orders for solar semiconductor equipment.

Market researcher Fuji Keizai has predicted the global market for solar cells will grow at 27% annually up to 2012 to reach $42.5 billion. But the total solar PV market size might be quite higher and the demand can go up further.
Few media reports have quoted Sharp Q-Cell and Suntech are the top 3 leading solar cell vendors. Their total solar cell market share can be estimated close to 40 percent.

Its estimated that the total global capacity in 2010 will reach 10 gigawatt (GWp).

Both power starved nations and rich developed economies are investing hugely in solar power generations.

In India, the solar is driving semiconductor fab investment, home power installation, solar farms and rural lighting.
TATA BP Solar, the leading player in India is set to become a billion dollar company by 2012. TATA BP Solar has invested US$ 80 million in the current financial year for manufacturing 180 MW of solar cells and 125 MW of solar modules.
Moser Baer also expanding with technology tie-ups with leading PV technology vendor.
There is also reports that, BHEL and BEL are jointly investing Rs 6000 Cr (1.2 billion USD) to set up photovoltaic facility.

Here are few more leading companies in solar market

Company Country Industry
E-Ton Solar Taiwan Cells
Gintech Energy Taiwan Cells
JA Solar China Cells
Motech Industries Taiwan Cells
Q-Cells Germany Cells
ErSol Solar Energy Germany Cells, modules
Evergreen Solar US Cells, modules
Solarfun Power Holdings China Cells, modules
SunPower US Cells, modules
Suntech Power China Cells, modules
LDK Solar China Wafers
Renesola China Wafers
Trina Solar China Wafers, cells, modules
Yingli Green Energy China Wafers, cells, modules
SolarWorld Germany Wafers, cells, modules, wholesale
Renewable Energy Corp. Norway Silicon, wafers, cells, modules
Canadian Solar China Modules
Solaria Energia y Medio A. Spain Modules
First Solar US Thin-film modules
Solon Germany Modules, systems
Conergy Germany PV systems
Centrotherm Photovoltaics Germany Production equipment
GT Solar US Production equipment
Manz Automation Germany Production equipment
Roth & Rau Germany Production equipment
Solargiga Energy Holdings Hong Kong Silicon, ingots, wafers
PV Crystalox Solar plc UK Ingots, wafers