Lewes, DE -- (SBWIRE) -- 12/15/2014 -- China Continues to be Largest Market for Solar Balance of System:

In 2013, with a sharp increase in capacity addition, China overtook the US to become the largest market for solar Balance of System (BOS). Having added 11 Gigawatts (GW) in capacity, it is estimated that China will again have the largest market for BOS in 2014. At $6.82 billion, China's BOS market accounts for 20% of the global BOS market. The US BOS market accounts for 19% of the global BOS market.

Decline in Hardware-Component Costs in India:

India has a domestic content requirement for solar Photovoltaic (PV) but is restricted to cells and modules. The components of BOS can be sourced from outside the country without affecting the government incentive. Most of the inverters that are used in India are imported from European countries, but structures are supplied by several Indian companies at competitive rates. However, a number of developers import structures or purchase their installation as a service from companies outside of India, for reasons varying from lower cost to better and faster installation. Cables and transmission components are also of mixed sourcing. While some components are mostly purchased from domestic manufacturers, others are almost entirely imported.

Germany's Market to Decline but Manufacturers to Continue Producing:

Following the increase in annual capacity addition, the BOS market increased from $9.2 billion in 2010 to $11 billion in 2012. However, with a sudden fall in annual capacity, the market fell sharply to $4.4 billion in 2013 and $2.3 billion in 2014. With the government putting a limit on annual capacity by limiting incentives, the BOS market size is expected to decrease slowly from $2.5 billion in 2015 to $1.3 billion in 2020. However, manufacturers will continue production in order to cater to the export market.

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