1 Table of Contents
1 Table of Contents 2
1.1 List of Tables 7
1.2 List of Figures 8
2 Executive Summary 10
2.1 Global Carbon Emissions Continue to Increase in 2010-2011 after a Slight Dip in 2009 10
2.2 Global Power Market – Increasing Focus on Clean Technologies 10
2.3 Government Support will continue to Foster the Growth of Global Renewable Power Market 10
2.4 Global Solar Photovoltaic (PV) Market Will Sustain its Growth Momentum 11
2.5 China Power Market – Thermal power is set to be Dominant during 2012-2025 12
2.6 China Renewable Power Market– Rapid Growth Expected During 2012-2025 12
2.7 China Solar PV Market– Rapid Growth Expected During 2012-2025 13
3 Introduction 14
3.1 Carbon Emissions, Global, 2001-2011 14
3.2 Primary Energy Consumption, Global, 2001-2025 16
3.3 Report Guidance 17
4 Renewable Power Market, Global, 2001-2025 19
4.1 Renewable Power Market, Global, Overview 19
4.2 Renewable Power Market, Global, Cumulative Installed Capacity, MW, 2001-2025 20
4.3 Renewable Power Market, Global, Power Generation, GWh, 2001-2025 22
4.4 Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, %, 2011 24
4.5 Renewable Power Market, Global, Net Capacity Additions by Source Type, MW, 2011-2025 25
4.6 Renewable Power Market, Global, Comparison among Power Sources 26
5 Solar PV Market, Global, 2001-2025 27
5.1 Solar PV Market, Global, Overview 27
5.2 Solar PV Market, Global, Installed Capacity, MW, 2001-2025 28
5.3 Solar PV Market, Global, Power Generation, GWh, 2001-2025 30
5.4 Solar PV Market, Global, Cumulative Installed Capacity Growth by Region, MW, 2011-2025 32
5.5 Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 33
5.6 Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011-2025 34
5.7 Solar PV Market, Global, Comparison between Key Countries 35
5.8 Solar PV Market, Global, Investment Trends, $m, 2012-2025 36
5.9 Solar PV Market, Global, Cost Analysis 37
5.9.1 Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, 2011 37
5.9.2 Solar PV Market, Global, Cost Break-up of an Off-grid PV System, 2011 38
5.10 Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 39
5.11 Solar PV Market, Global, Trade Flow Analysis of PV Modules 40
5.12 Solar PV Market, Global, Major Debt Providers, 2011 42
6 Power Market, China, 2001-2025 43
6.1 Power Market, China, Overview 43
6.2 Power Market, China, Cumulative Installed Capacity, MW, 2001-2025 44
6.3 Power Market, China, Cumulative Installed Capacity by Fuel Type, MW, 2001-2025 46
6.4 Power Market, China, Power Generation by Fuel Type, GWh, 2001-2025 48
6.5 Power Market, China, Net Capacity Additions by Source Type, MW, 2011-2025 50
6.6 Power Market, China, Comparison of Power Sources, 2011 51
7 Renewable Power Market, China, 2001-2025 52
7.1 Renewable Power Market, China, Overview 52
7.2 Renewable Power Market, China, Cumulative Installed Capacity by Source Type, MW, 2001-2025 52
7.3 Renewable Power Market, China, Cumulative Installed Capacity Split by Source Type, %, 2011 and 2025 54
7.4 Renewable Power Market, China, Power Generation by Source Type, GWh, 2001-2025 55
7.5 Renewable Power Market, China, Net Capacity Additions by Source Type, MW, 2011-2025 56
7.6 Renewable Power Market, China, Comparison of Renewable Power Sources, 2011 58
7.7 Renewable Power Market, China, LCOE Comparison, $/kWh, 2011 59
8 Solar PV Market, China, 2001-2025 60
8.1 Solar PV Market, China, Overview 60
8.2 Solar PV Market, China, Installed Capacity, MW, 2001-2025 61
8.3 Solar PV Market, China, Power Generation, GWh, 2001-2025 63
8.4 Solar PV Market, China, Export and Import of Modules, $m, 2006-2011 64
8.5 Solar PV Market, China, Investment Trends, 2011 65
8.6 Solar PV Market, China, Carbon Savings, MT, 2001-2025 67
8.7 Solar PV Market, China, Average Number of Homes Powered, 2001-2025 69
8.8 Solar PV Market, China, LCOE, $/kWh, 2011-2025 70
9 Solar PV Market, China, Deal Analysis 73
9.1 Solar PV Market, China, Deal Value vs Deal Volume, 2004-2011 73
9.2 Solar PV Market, China, Split by Deal Type, %, 2011 74
9.3 Solar PV Market, China, Asset Finance Deals, China vs Global, 2007-2011 75
9.4 Solar PV Market, China, Asset Finance Deals, Comparison Among Various Renewable Energy Sources, 2011 76
10 Renewable Energy Policy Framework, China 77
10.1 Financial Incentives and Policy Support for Renewable Energy Sources, China, Major Policies 77
10.2 Renewable Energy Policy Framework, China, Major Policies and Incentives 79
10.2.1 Renewable Energy Law 81
10.2.2 Medium and Long Term Development Plan for Renewable Energy 85
10.2.3 Renewable Portfolio Standards 85
10.2.4 International Science and Technology Cooperation Program for New and Renewable Energy 86
10.2.5 Shandong Province Village Renewable Energy Regulations 86
10.2.6 New Carbon Intensity Target 86
10.2.7 The 12th Five-Year Plan 86
10.3 Financial Incentives and Policy Support for Solar PV, China, Major Policies 87
10.3.1 Golden Sun Program 88
10.3.2 The BIPV Subsidy Program 88
10.3.3 Feed-In Tariff for Solar Projects 89
10.3.4 Solar PV Bidding Program 90
10.3.5 Subsidies for Solar PV in Rural Areas 90
10.3.6 R&D support for Solar PV 91
10.3.7 Shandong Province Energy Fund 91
10.3.8 Shandong Provinces Sunshine Plan 91
11 Solar PV Market, China, Company Analysis 92
11.1 Company Snapshot: Suntech Power Holdings Co., Ltd. 92
11.1.1 Suntech Power Holdings Co., Ltd., Company Overview 92
11.1.2 Suntech Power Holdings Co., Ltd., Business Overview 93
11.1.3 Suntech Power Holdings Co., Ltd., Major Products and Services 93
11.1.4 Suntech Power Holdings Co., Ltd., Key Financial Performance 94
11.1.5 Suntech Power Holdings Co., Ltd., SWOT Analysis 95
11.1.6 Suntech Power Holdings Co., Ltd., Locations and Subsidiaries 99
11.1.7 Suntech Power Holdings Co., Ltd., Locations and Subsidiaries 100
11.2 Company Snapshot: LDK Solar Co., Ltd. 102
11.2.1 LDK Solar Co., Ltd., Company Overview 102
11.2.2 LDK Solar Co., Ltd., Business Overview 102
11.2.3 LDK Solar Co., Ltd., Major Products and Services 103
11.2.4 LDK Solar Co., Ltd., Key Financial Performance 104
11.2.5 LDK Solar Co., Ltd., SWOT Analysis 105
11.2.6 LDK Solar Co., Ltd., Strengths 105
11.2.7 LDK Solar Co., Ltd., Weaknesses 106
11.2.8 LDK Solar Co., Ltd., Opportunities 107
11.2.9 LDK Solar Co., Ltd., Threats 109
11.2.10 LDK Solar Co., Ltd., Locations and Subsidiaries 110
11.3 Company Snapshot: First Solar, Inc. 112
11.3.1 First Solar, Inc., Company Overview 112
11.3.2 First Solar, Inc., Business Overview 112
11.3.3 First Solar, Inc., Major Products and Services 113
11.3.4 First Solar, Inc., Key Financial Performance 114
11.3.5 First Solar, Inc., SWOT Analysis 115
11.3.6 First Solar, Inc., Locations and Subsidiaries 120
11.4 Company Snapshot: China Power Investment Corporation 122
11.4.1 China Power Investment Corporation, Company Overview 122
11.4.2 China Power Investment Corporation, Business Overview 122
11.4.3 China Power Investment Corporation, Major Products and Services 123
11.4.4 China Power Investment Corporation, SWOT Analysis 124
11.4.5 China Power Investment Corporation, Locations and Subsidiaries 129
12 Appendix 132
12.1 Abbreviations 132
12.2 Market Definitions 133
12.3 Methodology 133
12.3.1 Secondary Research 134
12.3.2 Primary Research 134
12.3.3 Modeling and Forecasting 134
12.3.4 Market Estimates and Assumptions 134
12.3.5 Contact Us 135
12.3.6 Disclaimer 136
1.1 List of Tables
Table 1: Carbon Emissions, Global, MMT, 2001-2011 15
Table 2: Primary Energy Consumption, Global, Mtoe, 2001-2025 16
Table 3: Renewable Power Market, Global, Cumulative Installed Capacity by Fuel Type, MW, 2001–2025 21
Table 4: Renewable Power Market, Global, Power Generation by Fuel Type, GWh, 2001–2025 23
Table 5: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, %, 2001–2025 24
Table 6: Renewable Power Market, Global, Net Capacity Additions by Source Type, MW, 2011–2025 25
Table 7: Renewable Power Market, Global, Comparison among Power Sources 26
Table 8: Solar PV Market, Global, Installed Capacity, MW, 2001–2025 29
Table 9: Solar PV Market, Global, Power Generation, GWh, 2001–2025 31
Table 10: Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 33
Table 11: Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011–2025 34
Table 12: Solar PV Market, Global, New Investment, $m, 2012-2025 36
Table 13: Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, %, 2011 37
Table 14: Solar PV Market, Global, Cost Break-up of an Off-grid PV System, %, 2011 38
Table 15: Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 39
Table 16: Solar PV Market, Global, Import and Export of Modules, $m, 2007–2011 40
Table 17: Power Market, China, Cumulative Installed Capacity, MW, 2001–2025 45
Table 18: Power Market, China, Cumulative Installed Capacity by Fuel Type, MW, 2001–2025 47
Table 19: Power Market, China, Power Generation by Fuel Type, GWh, 2001–2025 49
Table 20: Power Market, China, Net Capacity Additions by Source Type, MW, 2011–2025 50
Table 21: Power Market, China, Comparison Between Power Sources, 2011–2025 51
Table 22: Renewable Power Market, China, Cumulative Installed Capacity by Source Type, MW, 2001–2025 53
Table 23: Renewable Power Market, China, Power Generation by Source Type, GWh, 2001–2025 56
Table 24: Renewable Power Market, China, Net Capacity Additions by Source Type, MW, 2011–2025 57
Table 25: Renewable Power Market, China, Comparison of Renewable Power Sources, 2011 58
Table 26: Solar PV Market, China, Annual and Cumulative Installed Capacity, MW, 2001–2025 62
Table 27: Solar PV Market, China, Power Generation, GWh, 2001–2025 64
Table 28: Solar PV Market, China, Export and Import of Modules, $m, 2006–2011 65
Table 29: Solar PV Market, China, Investment Trends, 2011–2025 66
Table 30: Solar PV Market, China, Carbon Savings, Million Tons, 2001–2025 68
Table 31: Solar PV Market, China, Average Number of Homes Powered, ‘000, 2001–2025 70
Table 32: Solar PV Market, China, Assumptions for LCOE Calculation 71
Table 33: Solar PV Market, China, LCOE, $/kWh, 2011–2025 72
Table 34: Solar PV Market, China, Deal Value vs Deal Volume, 2004-2011 73
Table 35: Solar PV Market, China, Split by Deal Type, %, 2011 74
Table 36: Solar PV Market, China, Asset Finance Deals, China vs Global, 2007-2011 75
Table 37: Solar PV Market, China , Asset Finance Deals, Comparison Among Various Renewable Energy Sources, 2011 76
Table 38: Major Renewable Energy Law Implementation Timelines, China, 2010 79
Table 39: Renewable Energy Law, China, Major Regulations, 2005-2006 82
Table 40: Renewable Energy Targets, China, 2006-2020 83
Table 41: Jiangsu Solar PV Preferential Tariffs, China, 2009-2011 89
Table 42: Suntech Power Holdings Co., Ltd., Major Products and Services 93
Table 43: Suntech Power Holdings Co., Ltd., SWOT Analysis 95
Table 44: Suntech Power Holdings Co., Ltd., Other Locations and Subsidiaries 99
Table 45: Suntech Power Holdings Co., Ltd., Subsidiaries 101
Table 46: LDK Solar Co., Ltd., Major Products and Services 103
Table 47: LDK Solar Co., Ltd., SWOT Analysis 105
Table 48: LDK Solar Co., Ltd., Other Locations and Subsidiaries 110
Table 49: First Solar, Inc., Major Products and Services 113
Table 50: First Solar, Inc., SWOT Analysis 115
Table 51: First Solar, Inc., Other Locations and Subsidiaries 120
Table 52: EDF Energies Nouvelles SA, Major Products and Services 123
Table 53: China Power Investment Corporation, SWOTAnalysis 124
Table 54: China Power Investment Corporation, Other Locations and Subsidiaries 129
Table 55: Abbreviations 132
Table 56: LCOE Calculation, Discount Rates by Technology 135
1.2 List of Figures
Figure 1: Solar PV Market, Global, Cumulative Installed Capacity, MW, 2001-2025 12
Figure 2: Solar PV Market, China, Cumulative Installed Capacity by Technology, MW, 2001-2025 13
Figure 3: Carbon Emissions, Global, MMT, 2001-2011 15
Figure 4: Primary Energy Consumption, Global, Mtoe, 2001-2025 16
Figure 5: Renewable Power Market, Global, Cumulative Installed Capacity by Fuel Type MW, 2001–2025 20
Figure 6: Renewable Power Market, Global, Power Generation by Fuel Type, GWh, 2001–2025 22
Figure 7: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, %, 2001–2025 24
Figure 8: Renewable Power Market, Global, Net Capacity Additions by Source Type, MW, 2011–2025 25
Figure 9: Renewable Power Market, Global, Comparison among Power Sources 26
Figure 10: Solar PV Market, Global, Installed Capacity, MW, 2001–2025 28
Figure 11: Solar PV Market, Global, Power Generation, GWh, 2001–2025 30
Figure 12: Solar PV Market, Global, Cumulative Installed Capacity Growth by Region, MW, 2011-2025 32
Figure 13: Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 33
Figure 14: Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011–2025 34
Figure 15: Solar PV Market, Global, Comparison Between Key Countries 35
Figure 16: Solar PV Power Market, Global, New Investment, $m, 2012-2025 36
Figure 17: Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, %, 2011 37
Figure 18: Solar PV Market, Global, Cost Break-up of an Off-grid PV System, %, 2011 38
Figure 19: Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 39
Figure 20: Solar PV Market, Global, Import and Export of Modules, $m, 2007–2011 40
Figure 21: Solar PV Market, Global, Trade Flow of Modules, 2011 41
Figure 22: Solar PV Market, Global, Major Debt Providers, 2011 42
Figure 23: Power Market, China, Cumulative Installed Capacity, MW, 2001–2025 44
Figure 24: Power Market, China, Cumulative Installed Capacity by Fuel Type, MW, 2001–2025 46
Figure 25: Power Market, China, Power Generation by Fuel Type, GWh, 2001–2025 48
Figure 26: Power Market, China, Net Capacity Additions by Source Type, MW, 2011–2025 50
Figure 27: Power Market, China, Comparison Between Power Sources, 2011–2025 51
Figure 28: Renewable Power Market, China, Cumulative Installed Capacity by Source Type, MW, 2001–2025 53
Figure 29: Renewable Power Market, China, Cumulative Installed Capacity Split by Source Type, MW, 2011 and 2025 54
Figure 30: Renewable Power Market, China, Power Generation by Source Type, GWh, 2001–2025 55
Figure 31: Renewable Power Market, China, Net Capacity Additions by Source Type, MW, 2011–2025 57
Figure 32: Renewable Power Market, China, Comparison of Renewable Power Sources, 2011 58
Figure 33: Renewable Power Market, China, LCOE Comparison, $/kWh, 2011 59
Figure 34: Solar PV Market, China, Annual and Cumulative Installed Capacity, MW, 2001–2025 61
Figure 35: Solar PV Power Market, China, Power Generation, GWh, 2001–2025 63
Figure 36: Solar PV Market, China, Export and Import of Modules, $m, 2006–2011 65
Figure 37: Solar PV Market, China, Investment Trends, 2011–2025 66
Figure 38: Solar PV Market, China, Carbon Savings, Million Tons, 2001–2025 67
Figure 39: Solar PV Market, China, Average Number of Homes Powered, ‘000, 2001–2025 69
Figure 40: Solar PV Market, China, LCOE, $/kWh, 2011–2025 71
Figure 41: Solar PV Market, China, Deal Value vs Deal Volume, 2004-2011 73
Figure 42: Solar PV Market, China, Split by Deal Type, %, 2011 74
Figure 43: Solar PV Market, China, Asset Finance Deals, China vs Global, 2007-2011 75
Figure 44: Solar PV Market, China, Asset Finance Deals, Comparison Among Various Renewable Energy Sources, 2011 76
Figure 45: Renewable Power Market, China, Impact Analysis of Major Policies, 2004-2012 78
Figure 46: Renewable Power Market, China, Policy Impact on Applicable Renewable Power Sources 79
Figure 47: Solar PV Power Policy, China, Annual Capacity Addition, MW, 2001-2011 87
Figure 48: Solar PV Market, China, Presence of Companies Across Solar PV Value Chain 92
Figure 49: Suntech Power Holdings Co., Ltd., Key Financial Performance 94
Figure 50: LDK Solar Co., Ltd., Key Financial Performance 104
Figure 51: First Solar, Inc., Key Financial Performance 114