While Italy has grown over recent years to become one of the most significant photovoltaic markets worldwide, that position is set to slip, according to new figures from IMS Research. The figures are based on "supply chain checks" performed by the analysts and they indicate that an increased rate of installations will consume much of the budget set aside for the fifth Conto Energia, before it officially begins.
700 million (US$849 million) of additional funding has been budgeted by the Italian government for the fifth Conto Energia. However, IMS Research has found that surging installations, being completed in the first half of 2012 to take advantage of more generous incentives, will consume much of the annual 6.7 billion (US$8.13 billion) budget by the time the fifth Conto Energia comes into effect in August.
Sam Wilkinson, Senior PV Analyst at IMS Research, summed it up: "Currently the official Gestore dei Servizi Energetici (GSE) statistics show 1.8 GW of installations and a cost of 6.1 billion. Once these figures catch up with reality, this will take the annual cost of incentives to around 6.4 billion, and will reduce the additional budget available for new Conto Energia V (five) installations to just 300 million (US$364 million)."
IMS Researchs analysis based on these figures reveals that the long-term outlook for the Italian market is "significantly reduced." The latest forecast predicts that 2013 will see less than three gigawatts (GW) installed in Italy. "Whilst Italy has consistently been one of the largest markets in the world, 2013 will see it fall outside the top-three markets for the first time in five years," added Wilkinson.
Wilkinson said that while he believed installations without subsidies will still continue in the countrys south, it will be insufficient to maintain the current market size.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.