Aimee Hornberger - Sample Business Writing
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Transcript of Aimee Hornberger - Sample Business Writing
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PV Global Market Analysis
During the last decade, the photovoltaic (PV) industry experienced wild growth, as global demand grew from megawatts (MW) to gigawatts (GW), with a Compound Annual Growth Rate (CAGR) of greater than 50% between 2000 and 2010. The industry saw major technological advancements, increases in system size, great price fluctuations, as well as both shortages and over supply.
During this period, Europe led global demand. In 2010, it accounted for 81% of global demand trailed by North America and Japan which each accounted for only 7% of demand. European demand was primarily fueled by government incentive programs such as Feed In Tariff (FiTs ) programs in Germany. Thus, in 2011, as FiT incentives decrease or expire in Germany, Italy, France, and other European countries, analysts believe that European demand will also decline. They expect this trend to persist throughout the rest of this decade . Several new markets are expected to open up in smaller countries such as Israel, Morocco, and Thailand.
Most analysts see the US market, which grew 100% from 2009 to 2010, as the primary source of growth in the PV market for the next ten years. The US market is expected to grow to approximately 1.7 GW of annual consumption in 2011 and as high as 3.0 GW by 2014. However, there is still some concern about the shifting political climate in the US after the 2010 November elections. Overall, forecasters do not expect any additional US states to issue government incentives or that any of the current government incentives will be eliminated. Thus, they believe that solar demand across the US will follow its existing pattern. California leads demand for solar projects and other states with favorable government policies or solar resources, such as New Jersey and Arizona, follow close behind. In addition, demand should increase in the entire northeastern region of the US as rising electricity costs point to solar as a strong, grid-‐tied, alternative. Finally most analysts believe that “grid price parity,” or the point when PV becomes cost competitive without government incentives, will be reached as early as 2016, as the average cost-‐per-‐watt for solar energy continues to decline.
The following is an introductory market analysis
I wrote as part of a Go-to-Market Plan
for a large Chinese PV (solar panel) company.