Since March of this year, with the adjustment of major demand countries and increasing sales pressure, the prices of photovoltaic cells have been declining. At present, the latest transaction price of solar cell spot market has fallen below US$1 per watt. Market analysts believe that the uncertainties in the growth of the industry this year have increased. According to the current supply and demand situation, the pressure of competition has increased, and the decline in the gross margin of the industry has become a foregone conclusion.
According to the latest global PV industry analysis report from IMS Research, an international research organization, global PV module shipments in the first quarter fell by nearly 10%, which was the first decline since the beginning of 2009. It is expected that shipments and prices will continue to decline in the second quarter, among which the price of crystalline silicon modules from China's second-tier suppliers will decline the most.
The mainstream manufacturers downgraded their expectation that the photovoltaic market in 2011 has begun to respond to the policy uncertainties of major markets such as Germany and Italy. The international first-line PV manufacturers have shown a significant downward trend in the first quarter of this year.
In early May, the United States FirstSolar announced the results, the first quarter of this year, profits fell 33% over the same period last year, mainly due to falling sales prices, rising costs, and the slowdown in the European solar market growth.
In the first quarter, shipments and profit levels were lower than previously expected. German photovoltaic giant Q-Cells reported in its first-quarter financial report on May 12 that due to uncertainties in France and Italy's solar subsidy policy and weak market demand, the company’s revenue decreased by 46% to 125.51 million euros, and its net loss reached 41.10 million euros. Q-Cells said that if demand can pick up in the second half of the year, the full-year revenue is expected to be equal to last year's 1.35 billion euros. The company had expected this year's revenue to reach 13-15 billion euros this year.
Domestic photovoltaic giant Yingli Green Energy also lowered its expectations. On May 11, Yingli Green Energy expects the shipment of photovoltaic products in the first quarter of 2011 to drop by more than 10% from the previous month, and the gross profit rate will be between 27% and 27.5%, which is lower than the previously expected 30%-31%.
Market analysts said that the current market conditions show that the solar optoelectronics industry is highly relevant to the progress of core markets in Europe, such as Germany, Italy, and France. Although the Asian and North American markets continued to grow steadily, they still could not fill the revenue gap caused by the weakness of the European market.
Uncertainty in growth this year, IMS said that the uncertainty in the Italian market is an important factor leading to the slowdown in the development of the photovoltaic market. After the announcement of the suspension of the subsidy, the Italian market demand has stagnated, resulting in an increase in inventories and an end-market price drop. In the first quarter of 2011, the global PV module inventory has exceeded 10GW. At present, dealers have accumulated a large amount of inventory, and many companies have begun to cut prices.
Statistics from international research institute iSuppli show that in 2010, the installed capacity of global PV was as high as 15.7GW, which was a year-on-year increase of 120%. Europe is the world's leading photovoltaic market, with Germany's installed capacity accounting for nearly half of the total installed capacity in the world, which is as high as 6,727MW. Italy has the second largest installed capacity in the world with a total of 2,850MW.
However, it is precisely because of this high growth that Germany and other major demand countries have adjusted their subsidy policies to cope with the excessive growth in installed capacity. At present, Germany adopts a policy of flexible pricing adjustments on a quarterly basis to control overly fast-growing markets; France, Spain and other countries have also lowered their subsidies.
Previously, a number of international research institutions issued a 2011 PV forecast report shows that the industry is expected to grow at about 20% this year, which is much lower than the growth rate in the past few years. According to industry analysts, judging from the current situation in which major demand countries continue to reduce subsidies, it is too early to judge the true growth of the entire year.
Q-Cells also stated on May 12 that the demand in the second quarter and the second half of 2011 is uncertain and it is not possible to determine the full-year revenue target. This view also represents the typical attitude of photovoltaic manufacturers to the current market.
According to the latest global PV industry analysis report from IMS Research, an international research organization, global PV module shipments in the first quarter fell by nearly 10%, which was the first decline since the beginning of 2009. It is expected that shipments and prices will continue to decline in the second quarter, among which the price of crystalline silicon modules from China's second-tier suppliers will decline the most.
The mainstream manufacturers downgraded their expectation that the photovoltaic market in 2011 has begun to respond to the policy uncertainties of major markets such as Germany and Italy. The international first-line PV manufacturers have shown a significant downward trend in the first quarter of this year.
In early May, the United States FirstSolar announced the results, the first quarter of this year, profits fell 33% over the same period last year, mainly due to falling sales prices, rising costs, and the slowdown in the European solar market growth.
In the first quarter, shipments and profit levels were lower than previously expected. German photovoltaic giant Q-Cells reported in its first-quarter financial report on May 12 that due to uncertainties in France and Italy's solar subsidy policy and weak market demand, the company’s revenue decreased by 46% to 125.51 million euros, and its net loss reached 41.10 million euros. Q-Cells said that if demand can pick up in the second half of the year, the full-year revenue is expected to be equal to last year's 1.35 billion euros. The company had expected this year's revenue to reach 13-15 billion euros this year.
Domestic photovoltaic giant Yingli Green Energy also lowered its expectations. On May 11, Yingli Green Energy expects the shipment of photovoltaic products in the first quarter of 2011 to drop by more than 10% from the previous month, and the gross profit rate will be between 27% and 27.5%, which is lower than the previously expected 30%-31%.
Market analysts said that the current market conditions show that the solar optoelectronics industry is highly relevant to the progress of core markets in Europe, such as Germany, Italy, and France. Although the Asian and North American markets continued to grow steadily, they still could not fill the revenue gap caused by the weakness of the European market.
Uncertainty in growth this year, IMS said that the uncertainty in the Italian market is an important factor leading to the slowdown in the development of the photovoltaic market. After the announcement of the suspension of the subsidy, the Italian market demand has stagnated, resulting in an increase in inventories and an end-market price drop. In the first quarter of 2011, the global PV module inventory has exceeded 10GW. At present, dealers have accumulated a large amount of inventory, and many companies have begun to cut prices.
Statistics from international research institute iSuppli show that in 2010, the installed capacity of global PV was as high as 15.7GW, which was a year-on-year increase of 120%. Europe is the world's leading photovoltaic market, with Germany's installed capacity accounting for nearly half of the total installed capacity in the world, which is as high as 6,727MW. Italy has the second largest installed capacity in the world with a total of 2,850MW.
However, it is precisely because of this high growth that Germany and other major demand countries have adjusted their subsidy policies to cope with the excessive growth in installed capacity. At present, Germany adopts a policy of flexible pricing adjustments on a quarterly basis to control overly fast-growing markets; France, Spain and other countries have also lowered their subsidies.
Previously, a number of international research institutions issued a 2011 PV forecast report shows that the industry is expected to grow at about 20% this year, which is much lower than the growth rate in the past few years. According to industry analysts, judging from the current situation in which major demand countries continue to reduce subsidies, it is too early to judge the true growth of the entire year.
Q-Cells also stated on May 12 that the demand in the second quarter and the second half of 2011 is uncertain and it is not possible to determine the full-year revenue target. This view also represents the typical attitude of photovoltaic manufacturers to the current market.
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