The quarterly solar PV module revenue made by the 20 leading global suppliers reached $5.9 billion in the fourth quarter of 2014, an increase of 12% over the year prior, according to the latest report from IHS.
IHS, a global information company, released its latest Module Tracker Quarterly report, showing that a sharp decline in solar PV module prices, quarterly revenue prices have not been higher since the third quarter of 2011.
Strong growth in the fourth quarter of 2014 saw the total solar PV module shipment volume reach 8.8 GW, pushing the full year module revenue by these top 20 suppliers to $21.4 billion.
Quarterly Solar PV Module Revenue of 20 Leading Suppliers
“To fund their capacity expansion or acquisition, PV module suppliers must continuously increase their revenues,” said Ray Lian, principal analyst for IHS Technology, formerly with Solarbuzz, which was bought out by IHS late last year. “As these companies gain more market share, we can expect to see further industry consolidation.”
The total shipments of solar PV modules from the leading 20 suppliers was the equivalent of 68% of the global demand in 2014, compared to only 60% from 2011. Specifically, both Trina Solar and Yingli Green Energy shipped more than 3 GW of solar PV modules.
“PV module revenues of the 20 leading suppliers will continue to grow, as they benefit from both robust global PV demand growth and increasing market share,” Lian said. “We expect them to reach historic revenue heights, as early as the fourth quarter of 2015.”
Cost reductions will continue as the technology improves and becomes easier to produce, as has already been shown in the blended module cost-of-goods-sold of the top 20 suppliers fell below $0.6 per watt for the first time.