The report, "Global Photovoltaic Market Forecast to 2013", issued from RNCOS Industry Research Solutions, found that annual installations are anticipated to increase at least five fold by 2013, from their 2009 levels.
It also reveals that, due to the active participation of both public and private sectors, the Chinese PV industry has witnessed fast expansion during the last few years.
Easy and cheap availability of skilled manpower and inexpensive raw material supply, it says, have made China one of the most important PV producing countries in the world. It adds that this trend is expected to remain applicable during its forecast period, which will enable the country to capture a dominant share in global PV installations in coming years.
The report goes on to say that in addition to PV capacity installations, the country has emerged as the world’s largest solar cell producers. It explains that the sector has undergone the process of restructure in its entire value chain, which involves innovations in thin film techniques and decreases in capital costs.
In total, the study say that the PV industry bucked global economic slowdown effects. It continues by stating that installations reached record heights in 2010.