PV Status Report 2018
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PV Status Report 2018 Jäger-Waldau, A. 2018 EUR 29463 EN This publication is a Science for Policy report by the Joint Research Centre (JRC), the European Commission’s science and knowledge service. It aims to provide evidence-based scientific support to the European policymak- ing process. The scientific output expressed does not imply a policy position of the European Commission. Nei- ther the European Commission nor any person acting on behalf of the Commission is responsible for the use that might be made of this publication. Contact information Name: Arnulf JÄGER-WALDAU Address: European Commission, Joint Research Centre, via Enrico Fermi 2749, 21027 Ispra (VA), Italy Email: [email protected] Tel.: +39 033278-9119 JRC Science Hub https://ec.europa.eu/jrc JRC 113626 EUR 29463 EN PDF ISBN 978-92-79-97465-6 ISSN 1831-9424 doi:10.2760/826496 Print ISBN 978-92-79-97466-3 ISSN 1018-5593 doi:10.2760/924363 Luxembourg: Publications Office of the European Union, 2018 © European Union, 2018 The reuse policy of the European Commission is implemented by Commission Decision 2011/833/EU of 12 De- cember 2011 on the reuse of Commission documents (OJ L 330, 14.12.2011, p. 39). Reuse is authorised, pro- vided the source of the document is acknowledged and its original meaning or message is not distorted. The European Commission shall not be liable for any consequence stemming from the reuse. For any use or repro- duction of photos or other material that is not owned by the EU, permission must be sought directly from the copyright holders. All images © European Union 2018, except: cover page, © malp, #109221543, Source: stock.adobe.com How to cite this report: Jäger-Waldau, A., PV Status Report 2018, EUR 29463 EN, Publications Office of the European Union, Luxembourg, 2018, ISBN 978-92-79-97465-6, doi:10.2760/826496, JRC113626 Title PV Status Report 2018 Photovoltaics is a solar-power technology for generating electricity using semiconductor devices known as solar cells. A number of solar cells form a solar ‘module’ or ‘panel’, which can then be combined to form solar power systems, ranging from a few watts of electricity output to multi-megawatt power stations. Growth in the solar photovoltaic sector has been robust. The Compound Annual Growth Rate over the last decade was over 40 %, thus making photovoltaics one of the fastest growing industries at present. The PV Status Report provides comprehen- sive and relevant information on this dynamic sector for the interested public, as well as decision-makers in policy and industry. Contents Foreword .............................................................................................................. 1 Executive Summary ............................................................................................... 3 1 Introduction ...................................................................................................... 4 2 The PV market .................................................................................................. 9 2.1 EUROPE, THE RUSSIAN FEDERATION AND TURKEY ........................................ 11 2.1.1 Austria ............................................................................................. 13 2.1.2 Belgium ............................................................................................ 14 2.1.3 Denmark .......................................................................................... 14 2.1.4 France .............................................................................................. 15 2.1.5 Germany .......................................................................................... 15 2.1.6 Greece ............................................................................................. 16 2.1.7 Hungary ........................................................................................... 17 2.1.8 Italy ................................................................................................. 17 2.1.9 The Netherlands ................................................................................ 17 2.1.10 Poland .............................................................................................. 18 2.1.11 Spain ............................................................................................... 18 2.1.12 Switzerland ....................................................................................... 18 2.1.13 UK ................................................................................................... 19 2.1.14 Other European countries, Russia and Turkey ........................................ 19 2.2 Asia and the Pacific region .......................................................................... 21 2.2.1 Australia ........................................................................................... 21 2.2.2 India ................................................................................................ 21 2.2.3 Israel ............................................................................................... 22 2.2.4 Japan ............................................................................................... 22 2.2.5 Jordan .............................................................................................. 23 2.2.6 Malaysia ........................................................................................... 23 2.2.7 Pakistan ........................................................................................... 24 2.2.8 People’s Republic of China .................................................................. 24 2.2.9 Philippines ........................................................................................ 25 2.2.10 South Korea ...................................................................................... 25 2.2.11 Taiwan ............................................................................................. 26 2.2.12 Thailand ........................................................................................... 26 2.2.13 Emerging markets ............................................................................. 27 2.3 Americas .................................................................................................. 31 2.3.1 Argentina .......................................................................................... 31 2.3.2 Brazil ............................................................................................... 31 i 2.3.3 Canada ............................................................................................. 31 2.3.4 Chile ................................................................................................ 32 2.3.5 Dominican Republic ............................................................................ 32 2.3.6 Honduras .......................................................................................... 32 2.3.7 Mexico .............................................................................................. 33 2.3.8 Panama ............................................................................................ 33 2.3.9 Peru ................................................................................................. 33 2.3.10 United States of America .................................................................... 34 2.3.11 Emerging markets ............................................................................. 34 2.4 Africa ....................................................................................................... 36 2.4.1 Algeria ............................................................................................. 36 2.4.2 Cape Verde ....................................................................................... 36 2.4.3 Egypt ............................................................................................... 37 2.4.4 Ethiopia ............................................................................................ 37 2.4.5 Mauritania ........................................................................................ 38 2.4.6 Morocco ............................................................................................ 38 2.4.7 Senegal ............................................................................................ 38 2.4.8 South Africa ...................................................................................... 39 2.4.9 Emerging markets ............................................................................. 39 3 Electricity costs and the economics of PV systems ............................................... 42 3.1 LCOE ........................................................................................................ 44 3.2 Influence of financing costs on LCOE ............................................................ 46 3.3 LCOE of residential grid-connected PV systems .............................................. 48 3.4 Residential and commercial electricity storage models .................................... 51 3.5 LCOE of utility-scale PV systems .................................................................. 52 4 THE PV MANUFACTURING INDUSTRY ................................................................. 54 4.1 Technology mix ......................................................................................... 55 4.2 Polysilicon supply ....................................................................................... 56 4.2.1 Silicon