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FIGURE 3.10 Annual global PV installations rapidly increased during 2007–12 30 25 20 15 10 5 2.5 0 29.1 Installations (GW) 2007 2008 2011 2012 6.3 7.5 2009 2010 24.7 21.7 Other India Australia Japan China Canada United States Europe Sources: EPIA, Global Outlook for Photovoltaics until 2016, May 2012, 19, 66–67; EPIA, Global Market Outlook for Photovoltaics 2013–2017, 2013, 16, 18, 31; GTM Research and SEIA, U.S. Solar Market Insight Report: 2012 Year-in-Review, 2013, 5; JPEA, Statistics on Shipments, February 26, 2013, 5; METI, “Announcement Regarding the Present Status,” March 13, 2012; Watt and Passey, "PV in Australia 2012," May 2013, viii; Energy Foundation and CREIA, China Solar, April 2013, 5–6. Notes: Estimates of the size of the global PV market in 2012 range from 29 GW to 32 GW. The data included here are based primarily on data from EPIA. For 2007–11, data for Europe are estimated PV installations. For 2012, data are grid-connected capacity. In addition, for 2012 USITC staff updated data for several non-European countries, including Australia, China, Japan, and the United States. 9percent), and Japan ($3.0 billion, 9 percent).75 The services market has increased substantially over time. Clean Edge estimated the value of the entire market, including 75 These values are based on estimates by USITC using publicly available data, but the actual market value could be higher or lower. The calculation of the market value by USITC is based on the value of the U.S. services market discussed above, and a separate calculation of the value of the rest of the global goods and services market and the share of the market accounted for by services. This involved calculating the value of installed systems in each market, based on multiplying the price per watt in each market by the number of MW installed. Data on the price per watt of systems installed in each country generally came from IEA’s Photovoltaic Power Systems Programme and BNEF database. The countries for which specific price per watt data were available (including the United States) accounted for about 91 percent of 2011 installations. For those countries for which system prices were not available, the average for all other countries was used. For each market, the price per watt for modules, inverters, and balance of system components was multiplied by the MW installed to derive an equipment cost. Where available, costs specific to the individual market were used. Where those were not available, global average prices were used. This was then subtracted from the total value of the installations to derive the share of the market accounted for by services. The total value of new installations of $91.9 billion is within the range of estimates published by consulting firms such as Clean Edge, which estimated global PV revenues in 2011 at $91.6 billion, and Solarbuzz, which estimated global revenues at $93 billion. Pernick, Wilder, and Winnie, Clean Energy Trends 2012, March 2012, 4; Solarbuzz, “World Photovoltaic Market Grew,” March 19, 2012. 3-18PDF Image | Renewable Energy and Related Services: Recent Developments
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