According to iSuppli’s PV Cell and Module Production Tracker report, Suntech will topple Q-Cells to become the world’s leading producer of crystalline cells for solar panels in 2009.
iSuppli also predicts Sharp, Yingli and JA Solar will retain their top 5 slots positions during 2009 by not reducing their solar-cell production.
While production may be increased by the big players, another challenge for the industry is emerging – a solar panel glut. While this could be good news for consumers in terms of cheaper prices, some of the smaller solar panel makers may be forced out of the market.
iSuppli says that solar panel production in 2009 will grow by 14.3 percent to 7.5 Gigawatts (GW), an increase of 1GW in 2008. However, only 3.9 GW in installations will take place this year, meaning nearly half of all solar panels produced in 2009 will remain in inventory.
The report states solar panels are set to remain in a state of oversupply until 2012, but from that point onwards, rapidly growing demand for PV-based installations will be able to absorb global panel production and inventory.
iSuppli’s outlook is quite different to another report recently released. Navigant Consulting’s analysis of worldwide PV markets and five-year application forecast says solar panel inventory levels may ease towards the end of 2009 and the market see the beginning of recovery.
