Global solar supply chain to grow by 24 per cent

Gurjit Degun
23 June 2014

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23 June 2014 | Gurjit Degun

Revenue in the global solar panel supply chain is expected to grow by 24 per cent over the next six months, driven by “surging installations”.

Data from IHS Technology said combined revenue for the photovoltaic polysilicon, wafer, cell and module sectors will rise to $28.7 billion (£16.8 billion) in the second half of this year, an increase from $23.1 billion (£13.5 billion) during the first half of 2014. 

Overall in 2014 IHS predicts polysilicon market revenue will expand by 36 per cent, followed by wafers by 35 per cent, cells by 18 per cent and modules by 17 per cent, compared with last year. Average selling prices for wafers, cells and modules are forecast to decline "only moderately" through the rest of 2014.

IHS added polysilicon prices in 2014 will be higher than in 2013 on an annual basis, but in the second half of the year they are “predicted to be flat to slightly down”.

“Photovoltaic solar installations have been decelerating in the first half of 2014 because of a slow start to the year in China,” said Jessica Jin, photovoltaic analyst at IHS. “However, installations are expected to gain major momentum in the second half, mainly driven by increases in China, Japan, the US and the UK. Double-digit growth in these countries will more than offset major declines in once hot markets like Germany, Italy and Greece, resulting in a 24 per cent global increase in megawatts installed for the year.”

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