January 9, 2013 - Solar photovoltaic (PV) technology is growing at a fast rate in Canada, as the government employs various initiatives to support the rapid deployment of solar PV energy sources, according to a recent GlobalData report. It also portrays Ontario as a leader in the renewable energy industry. Titled Solar Photovoltaic (PV) Backsheet in North America - Market Size, Average Price, Competitive Landscape and Key Country Analysis to 2020, the report continues: “Canada is an import-oriented market for solar backsheets, as there are no backsheet manufacturers currently located in Canada, with the local PV industry still in its early stages. As a result of the introduction of the Ontario Green Energy Act in 2009, solar PV backsheet installations increased from 4MW in 2006 to 240 MW in 2011, at a Compound Annual Growth Rate (CAGR) of 131%.”
However, the local content requirement clause has boosted the market for domestic modules, notes the report.
Annual solar PV installations over the forecast period are expected to record consistent growth, with backsheet capacity expected to increase from 240MW in 2011 to 937MW by 2020.
Cumulative solar PV installed capacity in Canada increased from 20MW in 2006 to 500MW in 2011, at a CAGR of 89%, and is forecast to reach 6,579MW by 2020 at a CAGR of 33%, adds the report.
