PV Power Engineering

PV power engineering has become a meaningful sector of the world economy

•Annual commissioning ofPVP capacities has reached 47 GW which in monetary terms is equivalent to over $80 bln.
•In the next6 years, commissioningcapacities areexpected to reach200–360 GW which is comparable with0.9-1.6 ofRussia’s energysystems (223 GW as of 2014).
•By 2020 the value of the market willbe estimated in terms of $430-580 bln.

Drivers of the industry growth

Cost reduction:
‒In the period between 1976 and 2013 the module cost decreased by 21.5% for every doubling of capacity commissioned (Fisher, 2014);
‒The improvement of technology has led to a 2.5 timescost reduction per Wattofcommissioned PVP capacity in 2009–2014.

This resulted in reaching price parity between the energy generated by PVP andgrid energy across regions with high insolation. With further cost reduction, the geography ofPVP’s efficient usewill go beyond the boundaries ofthoseregions, e.g. to USA and Europe. 

Accessibility:The Sun is an inexhaustible and universally accessible source of energy.
Scalability: the size ofa PVP depends on availability of a land plot and a possibility of system balancing.
Dynamics:Therateof constructiondepends on the applicable workforce used (1-10 MW a week).

The government support ofsolar market: Along with environmental motives for providing support, PVP is the only availablealternativetomanystatestoimporting fossil energy resources giventhe fact that thesolar power isavailableeverywhere. 


Sources:

Byrd, S. et al. 2014, “Solar Power & Energy Storage”, Morgan Stanley

Fisher, M., Gerlach, A. 2014, “State-of-the-art c-Si cell manufacturing: Trends in materials, processes and products identified in the 5th edition of the ITRPV roadmap”, Photovoltaics International

Masson, G.et al. 2014, “Global Market Outlook for Photovoltaics 2014-2018”, EPIA