IHS Research released research this week that predicts the photo worldwide voltaic module sector will reach $41.9 billion next year. The firm predicts “a strong period of growth” for the sector.
The reasons for the increase are a wave of capacity expansions, a relatively stable pricing landscape and healthy demand from several regional markets, according to IHS. Photovoltaic module shipments will grow 29 percent during the fourth quarter to reach 18.7 GW for the year. That growth will extend into 2016 with 10 percent module growth. Revenue will hit $41.9 billion, which will beat the 2010 record by 4 percent.
It may be time to get ready for the rush. Sun & Wind Energy reports that Germany’s first photovoltaic plant – built in 1983 on the North Frisian island of Pellworm – needs to be refurbished. Work is expected to be finished by the end of September and the facility to go back online in October.