PV Balance of System market to grow to USD 24bn in 2016
February 23, 2012 // Paul Buckley
PV balance of system (BoS) equipment revenues are projected to increase from $17 billion in 2011 to close to $24 billion in 2016 according to a new market report released by market analyst, IMS Research. The report found that whilst inverters will continue to be the largest part of the market, monitoring hardware, mounting structures and tracker systems will outpace the rest of the market to capture an increasing share.
IMS Research’s report entitled ‘The World Market for PV Balance of System Equipment’ which analysed volumes, pricing and revenues for eight BoS products, revealed that market revenues would fall by 5% this year from 2011’s peak of $17 billion. Ash Sharma, Senior Research Director commented, “Flat installations and shipments will inevitably lead to a fall in BoS equipment revenues this year due to price erosion, most notably for inverters and mounting structures. However the longer-term prospects for the market are still very positive with a $24 billion market size forecast in 2016.”
The report also found that whilst inverters formed the largest part of the market, accounting for more than 40% of revenues in 2011, the fastest growing segment will be tracker systems, with revenues for these products predicted to grow by close to 30% per annum up until 2016. Falling prices for these products is expected to boost penetration, particularly in high irradiation regions, such as California, South Africa and the Middle East which are all predicted to see high growth in PV deployment over the next few years. “Although the tracker market fell off a cliff at the end of 2008 when the Spanish market collapsed, it’s now facing a major resurgence as falling prices and more efficient motor control allows for a much more cost-effective system”, added Sharma.
According to the report, depending of the type of installation and the equipment used, BoS costs can sometimes outweigh the PV module costs. This means that customers are increasingly focusing on the BoS components to find cost savings and suppliers are experiencing price pressure that was previously reserved for module suppliers. Despite this, PV modules are still predicted to remain the largest single hardware cost in a PV system and will account for more than 50% of total PV hardware revenues in 2016.
Intensifying competition particularly for PV combiner boxes and mounting systems, especially from Chinese suppliers means that prices are forecast to continue to decline. However, price declines of BoS components will not be as severe as those experienced by module suppliers
“Although there will remain great pressure on suppliers to reduce prices as incentives fall, new products such as enhanced monitoring hardware, smarter inverters and a shift towards ground-mount mounting structures will help maintain average prices.” added Sharma.
Visit IMS Research – Photovoltaics at www.pvmarketresearch.com
Floating surge stopper provides unlimited overvoltage protection
May 17, 2013
Protecting sensitive electronic circuitry from voltage transients is an essential part of any system be it automotive, industrial, ...
Altera to integrate Enpirion power interfaces into its FPGAs
Automation CAN group plans permanent interoperability test capability
Opening up new user-interaction scenarios with Time-of-Flight measurements
Goepel electronic initiates Cooperation Network with EMS companies
The number of charging stations for electrical vehicles is expected to soar by 20220, study says
May 17, 2013
The number of electric vehicle charging stations is set to soar globally by 2020, supporting a shift in driving away from ...
In automotive lighting, LEDs still lacks of horsepower, study says
Ultra-low-power SoC supports world's smallest Bluetooth location stickers
Imec and Renesas collaborate on ultra-low power short range radios
InterviewWireless control drives Atmel in Europe
Atmel's recent acquisition of Osmo Devices with a WiFi Direct design center in Cambridge and some key microcontroller launches has seen the company focus heavily on wireless control in Europe says Jörg ...
Filter WizardCheck out the Filter Wizard Series of articles by Filter Guru Kendall Castor-Perry which provide invaluable practical Analog Design guidelines.
Linear video channel
READER OFFERRead more
The development platform for i.MX 6Quad from element14 (built to the Freescale SABRE Lite design) is an evaluation platform featuring the powerful i.MX 6Q, a multimedia application processor with Quad ARM Cortex-A9 cores at 1.2 GHz from Freescale Semiconductor.
This month, Freescale and element14 are giving away five such platforms, worth £128.06 each, for EETimes Europe's readers to win. The platform helps evaluate the rich set of peripherals and includes a 10/100/Gb Ethernet port, SATA-II, HDMI v1.4, LVDS, parallel RGB interface, touch screen interface, analog headphone/microphone, micro TF and SD card interface, USB, serial port, JTAG, camera interface, and input keys for Android.
And the winners are...
In our previous reader offer, Pico Technology was giving away one of its recently launched PicoScope 3207B, a 2-channel USB 3.0 oscilloscope worth 1451 Euros. Lucky winner Mr L. Sanchez-Gonzalez from Spain should be receiving his PicoScope 3207B soon. Let's wish them some interesting findings with his projects.
December 15, 2011 | Texas instruments | 222901974
Unique Ser/Des technology supports encrypted video and audio content with full duplex bi-directional control channel over a single wire interface.