After a somewhat lacklustre start to the year, the second quarter of 2010 saw global demand for solar panels increase to over 3.8 gigawatts according to international solar energy market research and consulting company, Solarbuzz.
The results translated to 54% growth quarter on quarter and was only 2% under the global market’s previous record of 3.92 gigawatts in the last quarter of 2009.
Total industry revenues were approximately USD$17.2 billion in during the second quarter, compared to $12.0 billion during the first quarter of last year and $6.2 billion in 2009’s second quarter.
Solarbuzz says Germany continued to lead global demand, grabbing 60% during the second quarter of this year; followed by Italy. While Italy grew a staggering 127% quarter on quarter, it still only represents 11% of the size of the German Market. Germany’s stellar results were driven by a rush to install ahead of feed in tariff declines. Strong incentive programs across Europe, particularly in Italy, France and the Czech Republic further added to general demand.
Among solar cell manufacturer shipments, the top companies were First Solar, Suntech Power, JA Solar, Yingli Green Energy and Trina Solar. Six Chinese companies from the top 12 manufacturers accounted for 55% of shipments, up from 43% 12 months ago.
Looking ahead to next year, Solarbuzz says market demand will be significantly less – under 50% of solar panel production. This will be primarily due to leading European markets feeling the effects of reductions in feed in tariff incentives.
