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Standards & Poor vFinal DR 18/12/09 09:31 Page 20
ANALYSIS
Keys to competitive success burn stage, and a robust warranty cost of energy (a measure of the total
Manufacturers in the PV market may be program. We think the factors critical to a cost of a system compared to its
able to offset the industry’s challenges by PV manufacturer’s success are as follows. expected energy output), which stems
developing keys to competitive success. from the company’s break-even ASP. The
In the industry’s current nascent growth As PV panels become more of a levelized cost of energy takes into
stage, many manufacturers are start-up commodity, profitability will largely come account the ASP, the efficiency of the
companies. Their survival depends on from a company’s ability to control costs solar conversion, the auxiliary costs of a
characteristics such as commercial or to reach economies of scale. The PV system, the regional intensity of the
viability, access to enough capital to company’s ability to produce PV panels at sun, and government incentives, allowing
sustain the company through the cash- a low cost will be evident in its levelized a more effective comparison to the
Issue VI 2009
-pv-management.com
.solar
www
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Table 1: Where H = High risk, M/H = Medium/high risk, M = Medium risk,
L/M = Low/medium risk, and L = Low risk
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