Document summary
The photovoltaics industry is in the process of transforming itself from a fledgling business into a mature industry. Global subsidy programmes have peaked in 2008, giving way to a transition period of lower subsidies which could last until grid parity is achieved in key markets. Companies need to slash their costs significantly to make sure that prices keep pace with falling feed-in tariffs. The global market for solar collectors is likely to remain extremely volatile for the time being, and would benefit from greater consistency.