Solar PV in the US, Market Outlook to 2025 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends, Regulations and Company Profiles

• Publication date: November 2012
• Report size: 137 pages

Solar PV in the US, Market Outlook to 2025 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends, Regulations and Company Profiles Summary "Solar PV in the US, Market Outlook to 2025 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends, Regulations and Company Profiles” is the latest report from GlobalData, the industry analysis specialists that offer comprehensive ...

Solar PV in the US, Market Outlook to 2025 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends, Regulations and Company Profiles



Summary



"Solar PV in the US, Market Outlook to 2025 - Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends, Regulations and Company Profiles” is the latest report from GlobalData, the industry analysis specialists that offer comprehensive information and understanding of the solar PV market in the US. The report provides in depth analysis on global renewable power market and global solar PV market with forecasts up to 2025. The report analyzes the power market scenario in the US (includes thermal conventional, nuclear, large hydro and renewables) and provides future outlook with forecasts up to 2025. The research details renewable power market outlook in the country (includes wind, small hydro, biopower and solar PV) and provides forecasts up to 2025. The report highlights installed capacity and power generation trends from 2001 to 2025 in the US solar PV market. The research analyzes market segmentation by grid connectivity, investment trends and LCOE for solar PV in the US during 2011-2025. The report provides information on the amount of carbon saved and average number of homes powered by solar PV during 2001-2025. A detailed coverage of renewable energy policy framework governing the market with specific policies pertaining to solar PV market development is provided in the report. The research also provides company snapshots of some of the major market participants.

The report is built using data and information sourced from proprietary databases, secondary research and in-house analysis by GlobalData’s team of industry experts.



Scope


The report analyses global renewable power market, global solar PV market, the US power market, the US renewable power market and the US solar PV market. The scope of the research includes -
- A brief introduction on global carbon emissions and global primary energy consumption.
- Historical period is during 2001-2011 (unless specified) and forecast period is for 2012-2025.
- An overview on global renewable power market, highlighting installed capacity trends, generation trends and installed capacity split by various renewable power sources.
- Renewable power sources include wind (includes both onshore and offshore), solar photovoltaic (PV), concentrated solar power (CSP), small hydropower (SHP), biomass, biogas and geothermal.
- Detailed overview on the global solar PV market with installed capacity and generation trends, market segmentation by grid connectivity, installed capacity split by region in 2011, installed capacity split by major solar PV countries in 2011, investment trends (2011-2025), trade flow of solar PV modules (2001-2011) and detailed cost analysis which includes LCOE comparison among major countries.
- Power market scenario in the US and provides detailed market overview, installed capacity and power generation trends by various fuel types (includes thermal conventional, nuclear, large hydro and renewables) with forecasts up to 2025.
- An overview on the US renewable power market, highlighting installed capacity trends (2001-2025), generation trends(2001-2025) and installed capacity split by various renewable power sources in 2011.
- Detailed overview of the US solar PV market with installed capacity and generation trends, market segmentation by grid connectivity, investment trends (2011-2025), import-export data of PV modules (2006-2011), carbon savings (2001-2025), number of homes powered (2001-2025) and LCOE for solar PV during 2011-2025.
- Deal analysis of the US solar PV market. Deals are analyzed on the basis of mergers, acquisitions, partnership, asset finance, debt offering, equity offering, private equity (PE) and venture capitalists (VC).
- Key policies and regulatory framework supporting the development of renewable power sources in general and solar PV in particular.
- Company snapshots of some of the major market participants in the country.



Reasons to buy


The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -
- Identify key growth and investment opportunities in the US solar PV market.
- Facilitate decision-making based on strong historic and forecast data for solar PV market.
- Position yourself to gain the maximum advantage of the industry’s growth potential.
- Develop strategies based on the latest regulatory events.
- Identify key partners and business development avenues.
- Understand and respond to your competitors’ business structure, strategy and prospects.

Global Solar Photovoltaic Industry

Table of Contents


1 Table of CContents 2
1.1 List of Tables 6
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 The US Power Market – Thermal Power will Remain the Dominant Source in 2025 11
2.6 The US Renewable Power Market – Rapid Growth Expected During 2012-2025 12
2.7 The US Solar PV Market– Rapid Growth Expected During 2012-2025 12
3 Introduction 13
3.1 Carbon Emissions, Global, 2001-2011 13
3.2 Primary Energy Consumption, Global, 2001-2025 15
3.3 Report Guidance 16
4 Renewable Power Market, Global, 2001-2025 18
4.1 Renewable Power Market, Global, Overview 18
4.2 Renewable Power Market, Global, Cumulative Installed Capacity, MW, 2001-2025 19
4.3 Renewable Power Market, Global, Power Generation, GWh, 2001-2025 21
4.4 Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, %, 2011 23
4.5 Renewable Power Market, Global, Net Capacity Additions by Source Type, MW, 2011-2025 24
4.6 Renewable Power Market, Global, Comparison among Power Sources 25
5 Solar PV Market, Global, 2001-2025 26
5.1 Solar PV Market, Global, Overview 26
5.2 Solar PV Market, Global, Installed Capacity, MW, 2001-2025 27
5.3 Solar PV Market, Global, Power Generation, GWh, 2001-2025 28
5.4 Solar PV Market, Global, Cumulative Installed Capacity Growth by Region, MW, 2011-2025 30
5.5 Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 31
5.6 Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011-2025 32
5.7 Solar PV Market, Global, Comparison between Key Countries 33
5.8 Solar PV Market, Global, Investment Trends, $m, 2012-2025 34
5.9 Solar PV Market, Global, Cost Analysis 35
5.9.1 Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, 2011 35
5.9.2 Solar PV Market, Global, Cost Break-up of an Off-grid PV System, 2011 36
5.10 Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 37
5.11 Solar PV Market, Global, Trade Flow Analysis of PV Modules 38
5.12 Solar PV Market, Global, Major Debt Providers, 2011 40
6 Power Market, the US, 2001-2025 41
6.1 Power Market, the US, Overview 41
6.2 Power Market, the US, Cumulative Installed Capacity, MW, 2001-2025 41
6.3 Power Market, the US, Cumulative Installed Capacity by Fuel Type, MW, 2001-2025 43
6.4 Power Market, the US, Power Generation by Fuel Type, GWh, 2001-2025 45
6.5 Power Market, the US, Net Capacity Additions by Source Type, MW, 2011-2025 47
6.6 Power Market, the US, Comparison of Power Sources, 2011-2025 48
7 Renewable Power Market, the US, 2001-2025 49
7.1 Renewable Power Market, the US, Overview 49
7.2 Renewable Power Market, the US, Cumulative Installed Capacity by Source Type, MW, 2001-2025 49
7.3 Renewable Power Market, the US, Cumulative Installed Capacity Split by Source Type, %, 2011 and 2025 51
7.4 Renewable Power Market, the US, Power Generation by Source Type, GWh, 2001-2025 52
7.5 Renewable Power Market, the US, Net Capacity Additions by Source Type, MW, 2011-2025 53
7.6 Renewable Power Market, the US, Comparison of Renewable Power Sources, 2011 54
7.7 Renewable Power Market, the US, LCOE Comparison, $/kWh, 2011 56
8 Solar PV Market, the US, 2001-2025 57
8.1 Solar PV Market, the US, Overview 57
8.2 Solar PV Market, the US, Installed Capacity, MW, 2001-2025 57
8.3 Solar PV Market, the US, Power Generation, GWh, 2001-2025 59
8.4 Solar PV Market, the US, Export and Import of Modules, $m, 2006-2011 61
8.5 Solar PV Market, the US, Investment Trends, 2012-2025 62
8.6 Solar PV Market, the US, Carbon Savings, MT, 2001-2025 63
8.7 Solar PV Market, the US, Average Number of Homes Powered, 2001-2025 64
8.8 Solar PV Market, the US, LCOE, $/kWh, 2011-2025 66
9 Solar PV Market, the US, Deal Analysis 68
9.1 Solar PV Market, the US, Deal Value Vs. Deal Volume, 2004-2011 68
9.2 Solar PV Power Market, the US, Split by Deal Type, %, 2011 69
9.3 Solar PV Market, the US, Asset Finance Deals, The US vs. Global, 2006-2011 70
9.4 Solar PV Market, the US, Asset Finance Deals, Comparison among Various Renewable Energy Sources, 2011 71
10 Renewable Energy Policy Framework, the US 72
10.1 Renewable Energy Policy Framework, the US, Federal Incentives 74
10.1.1 Energy Policy Act 2005 (EPAct 2005) 74
10.1.2 Federal Purchase Requirement (EPAct SEC.203) 75
10.1.3 The Energy Improvement and Extension Act of 2008 75
10.1.4 The American Recovery and Reinvestment Act (ARRA) 76
10.1.5 Corporate Tax Credits 77
10.1.6 Federal Grants 80
10.1.7 Federal Loan Program 91
10.1.8 Modified Accelerated Cost Recovery System (MACRS) 93
10.1.9 Renewable Energy Production Incentives (REPI) 94
10.1.10 Other Federal Policies 94
10.1.11 Financial Incentives and Policy Support for Solar, Federal Incentives 96
11 Solar PV Market, The US, Company Profiles 99
11.1 Company Snapshot: First Solar, Inc. 99
11.1.1 First Solar, Inc., Company Overview 99
11.1.2 First Solar, Inc., Business Overview 100
11.1.3 First Solar, Inc., Major Products and Services 100
11.1.4 First Solar, Inc., Key Financial Performance 101
11.1.5 First Solar, Inc., SWOT Analysis 102
11.1.6 First Solar, Inc., Other Locations and Subsidiaries 107
11.2 Company Snapshot: Suntech Power Holdings Co., Ltd. 108
11.2.1 Suntech Power Holdings Co., Ltd., Company Overview 108
11.2.2 Suntech Power Holdings Co., Ltd., Business Overview 108
11.2.3 Suntech Power Holdings Co., Ltd., Major Products and Services 109
11.2.4 Suntech Power Holdings Co., Ltd., Key Financial Performance 110
11.2.5 Suntech Power Holdings Co., Ltd., SWOT Analysis 111
11.2.6 Suntech Power Holdings Co., Ltd., Locations and Subsidiaries 115
11.3 Company Snapshot: Sempra Energy 117
11.3.1 Sempra Energy, Company Overview 117
11.3.2 Sempra Energy, Business Overview 117
11.3.3 Sempra Energy, Major Products and Services 119
11.3.4 Sempra Energy, Key Financial Performance 120
11.3.5 Sempra Energy, SWOT Analysis 121
11.3.6 Sempra Energy, Locations and Subsidiaries 125
11.4 Company Snapshot: MidAmerican Energy Company 126
11.4.1 MidAmerican Energy Company, Company Overview 126
11.4.2 MidAmerican Energy Company, Business Overview 126
11.4.3 MidAmerican Energy Company, Major Products and Services 128
11.4.4 MidAmerican Energy Company, SWOT Analysis 128
11.4.5 MidAmerican Energy Company, Locations and Subsidiaries 132
12 Appendix 133
12.1 Abbreviations 133
12.2 Market Definitions 134
12.3 Methodology 134
12.3.1 Secondary Research 135
12.3.2 Primary Research 135
12.3.3 Modeling and Forecasting 135
12.3.4 Market Estimates and Assumptions 135
12.3.5 Contact Us 136
12.3.6 Disclaimer 137



List of Tables


Table 1: Carbon Emissions, Global, MMT, 2001-2011 14
Table 2: Primary Energy Consumption, Global, Mtoe, 2001-2025 16
Table 3: Renewable Power Market, Global, Installed Capacity by Fuel Type, MW, 2001–2025 20
Table 4: Renewable Power Market, Global, Power Generation by Fuel Type, GWh, 2001–2025 22
Table 5: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, %, 2001–2025 23
Table 6: Renewable Power Market, Global, Net Capacity Additions by Source Type, MW, 2011–2025 24
Table 7: Renewable Power Market, Global, Comparison among Power Sources 25
Table 8: Solar PV Market, Global, Installed Capacity, MW, 2001–2025 28
Table 9: Solar PV Market, Global, Power Generation, GWh, 2001–2025 29
Table 10: Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 31
Table 11: Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011–2025 32
Table 12: Solar PV Market, Global, New Investment, $m, 2012-2025 34
Table 13: Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, %, 2011 35
Table 14: Solar PV Market, Global, Cost Break-up of an Off-grid PV System, %, 2011 36
Table 15: Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 37
Table 16: Solar PV Market, Global, Import and Export of Modules, $m, 2007–2011 38
Table 17: Power Market, the US, Cumulative Installed Capacity, MW, 2001–2025 42
Table 18: Power Market, the US, Cumulative Installed Capacity by Source Type, MW, 2001–2025 44
Table 19: Power Market, the US, Power Generation, GWh, 2001–2025 46
Table 20: Power Market, the US, Net Capacity Additions by Source Type, MW, 2011–2025 47
Table 21: Power Market, the US, Comparison Between Power Sources, 2011–2025 48
Table 22: Renewable Power Market, the US, Cumulative Installed Capacity by Source Type, MW, 2001–2025 50
Table 23: Renewable Power Market, the US, Generation by Source Type, GWh, 2001–2025 53
Table 24: Renewable Power Market, the US, Net Capacity Additions by Source Type, MW, 2011–2025 54
Table 25: Renewable Power Market, the US, Comparison of Renewable Power Sources, 2011 55
Table 26: Solar PV Market, the US, Annual and Cumulative Installed Capacity, MW, 2001–2025 58
Table 27: Solar PV Market, the US, Power Generation, GWh, 2001–2025 60
Table 28: Solar PV Market, the US, Export and Import of Modules, $m, 2006–2011 61
Table 29: Solar PV Market, the US, Investment Trends, 2012–2025 62
Table 30: Solar PV Market, the US, Carbon Savings, Tons, Thousands, 2001–2025 64
Table 31: Solar PV Market, the US, Average Number of Homes Powered, ‘000, 2001–2025 65
Table 32: Solar PV Market, the US, Assumptions for LCOE Calculation 66
Table 33: Solar PV Market, the US, LCOE, $/kWh, 2011–2025 67
Table 34: Solar PV Market, the US, Deal Value Vs. Deal Volume, 2004-2011 68
Table 35: Solar PV Market, the US, Split by Deal Type, %, 2011 69
Table 36: Solar PV Market, the US, Asset Finance Deals, The US vs. Global, 2006-2011 70
Table 37: Solar PV Market, the US, Asset Finance Deals, Comparison Among Various Renewable Energy Sources, 2011 71
Table 38: Energy Improvement and Extension Act of 2008, the US, Renewable Energy Incentives 75
Table 39: Production Tax Credit, the US, In Service Deadline and Credit Amount, 2011 78
Table 40: Treasury Grants, the US, Eligibility and Credit Availability, 2011 81
Table 41: Renewable Power Market, the US, Treasury Grants, Total Grants, 2009-2011 82
Table 42: Renewable Power Market, the US, Treasury Grants by Technology, Value (%), 2011 83
Table 43: Renewable Power Market, the US, Treasury Grants by Technology, Volume (%), 2011 84
Table 44: Renewable Power Market, the US, Treasury Grants, No. of Grants by State, 2009-2011 85
Table 45: Renewable Power Market, the US, Treasury Grants, Wind Power, No of Grants, $m, 2009-2011 86
Table 46: Wind Power Market, the US, Treasury Grants, Capacity (MW) Supported by Grants, 2009-2011 87
Table 47: Renewable Power Market, the US, Treasury Grants, Solar Power, No of Grants, $m, 2009-2011 88
Table 48: Solar Power Market, the US, Treasury Grants, Capacity (MW) Supported by Grants, 2009-2011 89
Table 49: Renewable Power Market, the US, Treasury Grants, Geothermal Power, No of Grants, $m, 2009-2011 90
Table 50: Green Power Purchasing Goal, the US, %, 2007-2013 95
Table 51: Solar Power, The US, New Installed Capacity, MW, 2001-2012 97
Table 52: First Solar, Inc., Major Products and Services 100
Table 53: First Solar, Inc., SWOTAnalysis 102
Table 54: First Solar, Inc., Other Locations and Subsidiaries 107
Table 55: Suntech Power Holdings Co., Ltd., Major Products and Services 109
Table 56: Suntech Power Holdings Co., Ltd., SWOT Analysis 111
Table 57: Suntech Power Holdings Co., Ltd., Other Locations and Subsidiaries 115
Table 58: Sempra Energy, Major Products and Services 119
Table 59: Sempra Energy, SWOT Analysis 121
Table 60: Sempra Energy, Other Locations and Subsidiaries 125
Table 61: MidAmerican Energy Company, Major Products and Services 128
Table 62: MidAmerican Energy Company, SWOT Analysis 128
Table 63: MidAmerican Energy Company, Other Locations and Subsidiaries 132
Table 64: Abbreviations 133
Table 65: LCOE Calculation, Discount Rates by Technology 136



List of Figures


Figure 1: Solar PV Market, Global, Cumulative Installed Capacity, MW, 2001-2025 11
Figure 2: Solar PV Market, the US, Cumulative Installed Capacity by Technology, MW, 2001-2025 12
Figure 3: Carbon Emissions, Global, MMT, 2001-2011 14
Figure 4: Primary Energy Consumption, Global, Mtoe, 2001-2025 15
Figure 5: Renewable Power Market, Global, Cumulative Installed Capacity by Fuel Type MW, 2001–2025 19
Figure 6: Renewable Power Market, Global, Power Generation by Fuel Type, GWh, 2001–2025 21
Figure 7: Renewable Power Market, Global, Cumulative Installed Capacity Split by Source Type, %, 2001–2025 23
Figure 8: Renewable Power Market, Global, Net Capacity Additions by Source Type, MW, 2011–2025 24
Figure 9: Renewable Power Market, Global, Comparison among Power Sources 25
Figure 10: Solar PV Market, Global, Installed Capacity, MW, 2001–2025 27
Figure 11: Solar PV Market, Global, Power Generation, GWh, 2001–2025 29
Figure 12: Solar PV Market, Global, Cumulative Installed Capacity Growth by Region, MW, 2011-2025 30
Figure 13: Solar PV Market, Global, Cumulative Installed Capacity Split by Country, %, 2011 31
Figure 14: Solar PV Market, Global, Net Capacity Additions in Major Countries, MW, 2011–2025 32
Figure 15: Solar PV Market, Global, Comparison Between Key Countries 33
Figure 16: Solar PV Power Market, Global, New Investment, $m, 2012-2025 34
Figure 17: Solar PV Market, Global, Cost Break-up of a Grid Connected PV System, %, 2011 35
Figure 18: Solar PV Market, Global, Cost Break-up of an Off-grid PV System, %, 2011 36
Figure 19: Solar PV Market, Global, LCOE in Major Countries, $/kWh, 2011 37
Figure 20: Solar PV Market, Global, Import and Export of Modules, $m, 2007–2011 38
Figure 21: Solar PV Market, Global, Trade Flow of Modules, 2011 39
Figure 22: Solar PV Market, Global, Major Debt Providers, 2011 40
Figure 23: Power Market, the US, Cumulative Installed Capacity, MW, 2001–2025 41
Figure 24: Power Market, the US, Cumulative Installed Capacity by Fuel Type, MW, 2001–2025 43
Figure 25: Power Market, the US, Power Generation by Fuel Type, GWh, 2001–2025 45
Figure 26: Power Market, the US, Net Capacity Additions by Source Type, MW, 2011–2025 47
Figure 27: Power Market, the US, Comparison Between Power Sources, 2011–2025 48
Figure 28: Renewable Power Market, the US, Cumulative Installed Capacity by Source Type, MW, 2001–2025 49
Figure 29: Renewable Power Market, the US, Cumulative Installed Capacity Split by Source Type, MW, 2011 and 2025 51
Figure 30: Renewable Power Market, the US, Power Generation by Source Type, GWh, 2001–2025 52
Figure 31: Renewable Power Market, the US, Net Capacity Additions by Source Type, MW, 2011–2025 54
Figure 32: Renewable Power Market, the US, Comparison of Renewable Power Sources, 2011 55
Figure 33: Renewable Power Market, the US, LCOE Comparison, $/kWh, 2011 56
Figure 34: Solar PV Market, the US, Annual and Cumulative Installed Capacity, MW, 2001–2025 58
Figure 35: Solar PV Power Market, the US, Power Generation, GWh, 2001–2025 59
Figure 36: Solar PV Market, the US, Export and Import of Modules, $m, 2006–2011 61
Figure 37: Solar PV Market, the US, Investment Trends, 2012–2025 62
Figure 38: Solar PV Market, the US, Carbon Savings, Tons, Thousands, 2001–2025 63
Figure 39: Solar PV Market, the US, Average Number of Homes Powered, ‘000, 2001–2025 65
Figure 40: Solar PV Market, the US, LCOE, $/kWh, 2011–2025 66
Figure 41: Solar PV Market, the US, Deal Value Vs. Deal Volume, 2004-2011 68
Figure 42: Solar PV Market, the US, Split by Deal Type, %, 2011 69
Figure 43: Solar PV Market, the US, Asset Finance Deals, The US vs. Global, 2006-2011 70
Figure 44: Solar PV Market, the US, Asset Finance Deals, Comparison Among Various Renewable Energy Sources, 2011 71
Figure 45: Renewable Power Market, The US, Impact Analysis of Various Policies, 1992-2012 73
Figure 46: Renewable Power Market, The US, Policy Impact on Applicable Renewable Power Sources 74
Figure 47: Production Tax Credit, the US, In Service Deadline and Credit Amount, 2011 78
Figure 48: Renewable Power Market, the US, Treasury Grants, Total Grants, 2009-2011 82
Figure 49: Renewable Power Market, the US, Treasury Grants by Technology, Value (%), 2011 83
Figure 50: Renewable Power Market, the US, Treasury Grants by Technology, Volume (%), 2011 84
Figure 51: Renewable Power Market, the US, Treasury Grants, Wind Power, No of Grants, $m, 2009-2011 86
Figure 52: Wind Power Market, the US, Treasury Grants, Capacity (MW) Supported by Grants, 2009-2011 87
Figure 53: Renewable Power Market, the US, Treasury Grants, Solar Power, No of Grants, $m, 2009-2011 88
Figure 54: Solar Power Market, the US, Treasury Grants, Capacity (MW) Supported by Grants, 2009-2011 89
Figure 55: Renewable Power Market, the US, Treasury Grants, Geothermal Power, No of Grants, $m, 2009-2011 90
Figure 56: Solar Power, the US, New Installed Capacity, MW, 2001-2012 97
Figure 57: Solar PV Market, The US, Presence of Companies Across Value Chain 99
Figure 58: First Solar, Inc., Key Financial Performance 101
Figure 59: Suntech Power Holdings Co., Ltd., Key Financial Performance 110
Figure 60: Sempra Energy, Key Financial Performance 120



Companies Mentioned

First Solar, Inc.
Suntech Power Holdings Co., Ltd.
Sempra Energy
MidAmerican Energy Company