The global recession stemming from the US financial crisis has hampered the overall picture of the world's solar power industry. Formerly, the market was determined by supply, but from now on growth will mainly depend on demand. The aggregate demand will depend on the solar power promotion policies of each country, where some markets may see decelerating demand. The fact that solar power projects require large investments may limit their funding in tight financial markets.
KASIKORN RESEARCH CENTER (KResearch) expects that the volume of new solar power installations globally this year may slow to a range of 4,000-6,000 megawatts, against 5,235 megawatts and more than 130 percent growth last year. As most of Thailand's production is export-oriented, the impact has been inevitable. The effect of increasingly decelerating demand and production will force the prices of panels, solar cells and business income to slow down. Thai solar-power SMEs may face short-term capital and liquidity constraints, so they may need to find joint ventures or business allies, or perhaps new investors to reduce costs and increase operational efficiency. In marketing, despite the sluggish global market, Thai manufacturers still have an opportunity to expand into many countries that have or will include solar or other alternative power promotion policies in their economic stimuli, e.g., in Japan, China, the USA or new potential markets in South Asia, the Middle East and Africa.
Success in the challenge for Thailand's solar panel industry will be determined by our international competitiveness through achieving the economies of scale. In production, entrepreneurs should steadily improve product quality and operational efficiency. In long-term planning, target consumers should be carefully selected that they are household or industrial users, etc., so that product development meets the demand and needs of those consumers.
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