World market for solar PV cells will double by 2020
According to South Korea’s Samsung SDI, the global market for solar photovoltaic cells will double by 2020, rising from 2010′s $30 billion to $70 billion.
Reuters reported early Wednesday, that the Falling prices and supportive government policies will drive the growth.
Chinese solar PV cell manufacturers will continue with aggressive overseas expansion plans the solar power industry out to 2013.
Germany and Italy, two leading EU solar power markets, have cut back on subsidies this year.
Although EU subsidies shrink in, Samsung SDI plans to aggressively expand its solar PV cell production from its current 150 MW to 3 GW by 2015, believing that its “super-efficient crystalline solar cells will differentiate” it from competitors’ products.
The company will invest 2.2 trillion won ( $2.05 million) into the business and expand into thin-film solar PV manufacturing as well.
Samsung intends to expand on US, Japanese and EU markets while considering emerging markets, such as China and India as well.
Samsung SDI acquired Samsung Electronics’ solar PV cell division for $149 million at the end of May.
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