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The worldwide solar market demand in 2014 was approximately at 44GW, even though the China market did not perform as well as expectations, due to the continuous growth in Japan and the U.S. market, the supply and demand remained stable. At the end of 2014, the overall supply chain maintained a solid utilization rate, while China’s tier-one module manufacturers also continued to break shipment records.
Polysilicon manufacturers in Japan, China and Korea are improving their production processes in an effort to lower costs, according to EnergyTrend, a division of the Taiwan-based market intelligence firm TrendForce. In October, the Japanese firm Tokuyama began producing polysilicon at its Malaysia plant, which has a capacity of 13,800 tons. Initially, Tokuyama is expected to reach 70% capacity. The South Korean polysilicon manufacturer OCI will boost capacity to 10,000 tons. Hanwha Chemical, another South Korean firm, will add 3,000 to 5,000 tons of production capacity.
Solar PV manufacturers are switching over to higher efficiency monocrystalline cells to increase power output, but for solar energy systems, overall module output is key. “In order to balance costs and the power efficiency of solar systems, it is important to reduce CTM (cell to module) loss as well as place greater emphasis on module assembly technology and materials application,” said Jason Huang, research manager at EnergyTrend, a division of the Taiwan-based market intelligence firm TrendForce.
Japanese electricity companies are temporarily scaling back their involvement with solar projects as solar supply outstrips demand, threatening to wreak havoc in the market, according to EnergyTrend, a division of the Taiwan-based market intelligence firm TrendForce.
The Philippine Department of Energy (DOE) said recently it would accelerate the development of renewable energy projects, emphasizing the importance of producing energy locally to ensure energy security. Thus far, the Philippine DOE has made minimal progress in its renewable energy endeavors. It has cancelled more than 100 renewable energy project contracts that it has signed with other parties.