Demand for photovoltaic cells to rise
High energy prices is driving demand for photovoltaic cells
By Jim Carbone -- Purchasing, 6/26/2008 4:43:00 PM
Worldwide investments in the production of photovoltaic (PV) cells will rise dramatically over the next two years because of booming demand for solar energy, according to researcher iSuppli.
Global production of PV cells is expected to rise to as much as 12 gigawatts (GW) by 2010, up from 3.5GW in 2007. By 2010, as many as 400 production lines in the world that can produce at least 1 megawatt (MW) of PV cells per year will be in place, representing a four-fold increase from about 90 to 100 production lines in 2007. Factories capable of 1GW of annual PV production also will be established in the future to ensure continued strong delivery of PV cells to the market.
“The market for PV cells is estimated to grow by 40% annually until 2010, and the 20% beyond,” says Henning Wicht, senior director and principal analyst, MEMS and photovoltaics, for iSuppli.
Wicht notes that heavy investments will be required to finance the expansion of PV cell production. Each PV factory will require an investment of $500 million and more and will generate annual revenue of $1 billion per year or more, putting them into the size, cost and employment range of semiconductor fabs.
Growth of the PV market is currently driven by the high price of oil and surging energy prices.
Projections show the world will need three to four times more electrical power over the next 50 years to support continued growth in population and economic output.
Also see: IBM recycling silicon wafers
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