The Emerging Electrical Markets for Copper



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The Impact on Copper

While the rate of solar PV installation is not expected to be huge, it is quite high in copper content (around 4 tonnes per MW). Copper is found primarily in the cabling, although there is also a significant amount in the inverter and in other components, including power electronics. With these basics, wire and cable is the main product ground consumed in solar PV, mainly energy cable.



Figure 66: Solar PV Market for Copper by Component Sector (kt Cu)


Figure 67: Forecast Solar PV Market for Copper by Fabricated Product (kt Cu)

In total, we forecast that the global market for solar PV will expand from 34 kt in 2010 to 74 kt in 2020. The European market will grow from 23 kt to 28 kt. As mentioned above, there is a potential for much more rapid growth in solar PV, in which case copper use would be higher.


Greater penetration of solar PV would be stimulated by cheap CIGs or other thin film solar cell technologies. If this were to happen this would create a small market for copper in CIGs themselves (1 kt by 2020 even taking the most optimistic projections), but more importantly should mean a higher intensity of use of copper. Thin film panels are relatively inefficient, meaning that the area they must cover for a given output is smaller, this in turn meaning that more cable would be required.
As is the case for wind power, the market for solar PV is reasonably well established, so in total it does not fit the definition of an “emerging” market as used in this Report. This being said, specific sectors within solar PV (such as power electronics or specially adapted cabling) may be defined as emerging. The possibility of very high upside potential also makes this a market worth monitoring very closely.



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