サニックス（4651）
Contents
1.2. SR Inc
3. Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14
4. Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14
5. http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4651 SR Research Report 2014 5 14 09 3 10 3 11 3 12 3 13 3 407 423 504 574 654 t 19 256 24 699 30 704 36 608 43 046 21 1 17 1 16 4 15 7 15 2
6. 2013 10 t MWh kWh 260 000 25 0 t MWh 20 0 230 000
7. 3 4 1 5233 1 5711 J FE FE 1 5411
8. 10 3 100 100 97 99 Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved i
9. C amp R 850 200 2005 2009 2013 10
10. S R 30 40 JASDAQ 1407
11. P V KW k
12. Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 PV ES 2013 3 2013 6 _ 123 6Z 19 _ 203 438 14 2000 2010 3 2013 10 P V
13. SBS DIC KLab TOKA P
14. P V Photovoltaic 7 455 361 554 38 6 4 P V 2013 3 46 2013 6 67
15. 2005 2009 2005 8 2007 3 6 2007 11 2 2009 2 sh ared hesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2006
16. 1 2 2 1
17. 2010 2012 1009 P V P V 2013 3 58 277 2013 6 79 438 P V 63
18. http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 120 2014 3 2014 3
19. Shared WeseaTch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 P V SR
20. 2002 3 2009 1 2 50 k W 3
21. 2009 2012 10 17 69 15 22 6 48 4 58 3 46
22. 2014 3 1 HS P V Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 P V P V 2013 3 1 4 2014 3 1 47 HS 2013 3 1 479 2014 3 1 20 P V H S
23. 2012 7 1 10 kW 10 kW 3 7
24. 1 SR SR Research Report 10 3 11 3 12 3 13 3 14 3 1 255 1 138 1 366 3 559 9 237 2 056 2 521 3 309 7 357 22 205 1 221 1 642 1 767 2 898 6 145 288 299 245 299 597 334 290 278 539 465 5 153 5 890 6 964 14 652 38 649 9 420 9 705 9 738 9 706 9 601 7 171 7 445 7 647 7 815 7 710 11 662 11 710 11 769 11 982 12 317 11 500 11 565 11 529 11 424 11 047 8 980 8 980 8 980 8 890 9 180 11 828 11 763 11 724 12 326 14 181 367 405 501 317 339 960 820 781 706 723 318 233 129 96 313 345 385 391 415 540 1 991 1 843 1 802 1 533 1 914 1 023 910 796 685 573 14 843 14 516 14 322 14 545 16 668 19 996 20 407 21 286 29 196 55 317 1 159 868 1 386 5 460 20 115 5 345 2 425 2 325 3 338 5 000 309 761 760 848 948 2 529 2 907 3 910 5 227 10 519 9 342 6 961 8 381 14 873 36 582 1 726 4 319 3 560 2 820 3 695
25. Sh ared Gcsearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14
26. 2012 3 2013 3 2003 3 2010 3 2011 3 2m 10 3 11 3 12 3 13 3 14 3 a 1 563 55 1 260 2 185 4 934 2 2 304 214 151 222 1 729 FCF 1 2 1 741 159 1 109 1 962 3 205 1 946 43 882 230 2 433 A 583 416 371 387 548 B 4 2 176 93 616 1 687 C 352 1 178 394 1 105 3 441 FCF NI A B C 3 917 889 102 241 1 615 SR
27. ES 12 053 8 8 1 087 17 2 2 7 9 1 3 3 10 12 1 4 6 2014 3 2
28. SR J GCA
29. 2000 20 2005 2012 32GW 319 2010 2012 3 7GW 2012 6 2013 2 5 3 5GW 2013 3
30. 3 986 10 8 439 49 2 2013 3 2013 3 43 366 37 9 1 870 356 4 1 788 414 1 1 575 2012 3 13 P V 4 581 69 H 5
31. Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 4 2013 3 190 2014 3 567 10 3 11 3 12 3 13 3 14 3 6 073 32 725 438 9 1 023 1 411 3 544 7 039 37 9 151 2 98 6 1 086 4 237 5 031 7 683 1 211 290 1 18 7 52 7 84 2 297 403 1 713 4 479 35 7 325 1 161 5 1 086 5 557 6 846 19 015 45 459
32. P V H S E 5 2013 3 H 5 H S 34 2 46 7 34 59 41 2 a Shared WeseaTch i http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 465 1 SR Research Report 2014 5 14 P V 2013 3 2012 3 7 2012 3 265 2013 3 320 2014 3
33. 2013 3 ES 2013 3 9 19 3 796 2013 3 34 5 41 2 qa Sh ared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14
34. 2009 3 2009 25 2009 32 2010 1 2010 7 2012 7 10 kW 2012 8
35. 2012 10 2013 4 100 2012 2013 10 11 12 1 2 3 4 5 6 7 SR HS 3 115 24 8 601 276 7 P V Sh ared Gcsearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 ES 1 197 65 4 32 175 2
36. 20 30 20 1 2013 10 25 NB SD SS
37. http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 1975 4 1982 1992 90 1994 1999 1999
38. SR Inc SR tnc 3 31 12 03 5834 8787 http www sharedresearch jp Email info sharedresearch jp Sh afedi http Www sharedresearch jD esearch Copyright C Shared Research Inc All Rights Reserved
39. 1997 2000 2001 2003 2006 2006 7 6 3
40. 1 6753 1 6971 1 6752 1 6503 1 5002 1 9831 10 kW 50 kW Sh aredd esearch http www sharedresearch jp C
41. 1m DO OL 2000 3
42. HS P V SW Strengths Weaknesses Strengths 10 k W 50 k W
43. 10 k W 2012 1 40 2013 36 2014 32 3 IRR 1 2 6 IRR 10 k W IRR 10 kW 50 kW IRR
44. H S 40 2013 10 30 2006 09 3 10 3 11 3 12 3 13 3 14 3 HS 14 657 14 056 16 657 15 395 14 814 10 273 6 6 4 1 18 5 7 6 3 8 30 7
45. SR Inc Shared Researcn SR Inc SR Inc SR Inc SR Inc
46. 2011 3 S R 2013 10 SR P V Sharedd Mesearch http Wwww sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 63
47. 10 k W 50 kW Weaknesses 2002 3 10 2003 3 2001 4 2003 10 120
48. 6 2015 2 270 2 790 S R 50 k W
49. 2001 3 2011 3 2001 3 113 2004 3 4 047 2003 10 2005 3 2007 3 2005 3 9 556 2006 3 2005 3 1 688 2006 3
50. ui 2013 3 2014 3 P V P V WRITE PR P V
51. 2012 P V P V 2014 3 3 2014 3 3 51 533 88 1 2 421 1 357 2 2 186 2 494 9 1 301 126 2014 3 3 P V 2013 3 4 HS P V
52. 2013 10 10 kW 10 kW 10 kW 10 kW 2009 1 48 10 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2012 1 42 2013 38 2014 37
53. 30mm Shar ed esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 ie 1 74 000 kW 2 3 15 85 RDF Refuse Derived Fuel 4
54. RPS 2002 6 2009 1 2009 2 2009 11 2011 8 2012 7 5
55. 1994 2013 10 15 2013 3 37 t 500 t 7 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14
56. 2 600 79 0 83 63 6 my 7 848 5 9 518 34 7 1 3 2014 3 2014 3 PV PV
57. 1 R R4 2007 2001 EU
58. 2 Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 S R 20 509 SR 2013 10
59. 2010 2012 1009 2013 10 amp 2013 11 2013 11 12 2014 3 2 2014 3 2 31 700 34 100 1 500 2 825 1 450 2 800 1 050 1 680 P V
60. 2013 11 7 2013 5 2013 3 Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2014 3 1 100 50
61. 1 411 3 544 HS 28 059 26 841 20 905 15 205 15 691 14 657 14 056 16 657 15 395 14 814 19 2 4 3 22 1 27 3 3 2 6 6 4 1 18 5 7 6 3 8 63 8 60 9 57 3 52 6 59 2 58 1 57 3 57 5 48 9 34 2 1 086 5 261 5 031 7 683 10 990 10 407 8 842 7 083 5 023 5 288 4 775 4 095 3 498 2 690 9 015 8 564 6 447 4 352 1 902 2 549 2 996 2 568 2 092 1 310 4 064 3 972 2 364 1 395 7 388 4 374 2 977 2 110 1 614 831 3 990 3 898 3 252 2 374 1 378 2 033 2 219 2 620 3 158 2 298 ES 7 191 6 934 5 406 4 091 3 341 2 976 2 547 2 811 2 757 3 965 11 1 3 6 22 0 24 3 18 3 10 9 14 4 10 4 1 9 43 8 16 3 15 7 14 8 14 2 12 6 11 8 10 4 9 7 8 8 9 1 8 737 10 309 10 198 9 612 7 479 7 600 7 934 9 511 11 890 14 967 15 5 18 0 1 1 5 7 22 2 1 6 4 4 19 9 25 0 25 9 19 9 23 4 27 9 33 3 28 2 30 1 32 3 32 8 37 8 34 5 4 995 5 392 5 988 5 064 3 777 3 603 4 295 5 023 6 673 8 665 874 1 734 1 002 1 138 769 1 550 1 276 1 427 2 303 3 370 1 419 1 954 2 201 2 106 1 889 1 833 1 474 1 444 1 595 1 602
62. Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4651 SR Research Report 2014 5 14 1 870 356 49 1 788 414 1 1 575 13 SR http www sharedresearch jD Copyright C Shared Research Inc All Rights Reserved 10 3 11 3 12 3 13 3 24 539 28 980 31 454 43 366 84 212 2 89 18 1 8 5 37 9 94 2 14 621 18 704 21 013 29 996 62 800 9 918 10 276 10 442 13 370 21 421 6 1 3 6 1 6 28 0 60 2 40 4 35 59 33 2 30 8 25 496 9 526 9 4 10 032 11 500
63. 3 8 ES 43 8 25 9 43 366 37 9 P V H 5 E 5
64. Shared Wesearch http www sharedresearch jD Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2014 5 14 2014 3 2014 3 2014 1 25 I 2014 6 1 100 2014 4 8 2014 3
65. 2007 3 4 2008 3 2007 3 4 2007 11 2009 3 2008 3 Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4651 SR Research Report 201
66. 0 15 0 200 000 10 0 170 000 5 0 140 000 0 0 2010 3 2011 3 2012 3 2013 3 2014 3 JEPX JEPX 2001 10 2003 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 li IDF 8 a _ 5 TG EE i
67. 11 12 2014 3 2013 10 4 4 P V 2013 3 46 2013 9 91 2012 10 2013 4 100 2012 2013 10 11 12 1 2 3 4 5 7 8 9 10
68. 16 051 7 2 1 364 12 9 Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4651 SR Research Report 2014 5 14 5 19 1 4 10 4 2015 3 14 3 15 3 jc5 31 692 52 529 84 222 62 600 98 900 161 500 74 3 108 69 94 2 97 59 88 39 91 89 22 689 40 111 62 800 9 003 12 418 21 421 54 09 65 0 60 2 28 4 23 6 25 496 7 507 9 406 16 913 23 7 17 9 20 1 1 496 3 012 4 508 3 600 10 400 14 000 185 3 123 8 141 096 140 79 245 29 210 596 4 796 5 7 5 496 5 896 10 596 8 7 1 443 2 867 4 310 3 500 10 300 13 800 183 7 140 9 142 59 259 39 220 2 4 6 5 5 5 1 5 6 10 4 8 5
69. Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2014 3 2014 3 1 2013 5 10kW
70. Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 10kW 2012 2013 2014 40 40 0 36 36 0 32 2 ls 32 Sm 28 on 27 Fy 150 m 150 m 1 6 _ 1 69 14 14 10 8 kW IRR SR 2013 10 27 k W 8 3 2015 2015 4 2016 3
71. P V H 5 P V pe P V P V Photovoltaic 51 340 433 8 4 410 320 42 167
72. E S Shared hesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 P V P V Photovoltaic 27 117 2 259 1 958 587 22 308 443 4 809 164 9 1 2013 12
73. 415 939 706 607 1 449 1 229 1 005 1 302 422 611 472 676 611 722 4 699 45 3 383 1 568 596 597 390 502 410 1 870 28 6 18 3 356 4 PV 265 320 HS 3 093 5 072 1 552 1 992 4 176 3 470 3 365 2 608 2 482 1 776 ES 257 558 261 211 202 90 211 154 41 139 4 047 2 428 1 601 914 1 269 1 818 1 112 216 288 1 568 SR 2002 3 10 2 HS 2002 2002 3 13 911 2 2004 3 3 093
74. SR HS 6 088 27 7 1 168 17 3 P V sh ared WeseaTch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 SS ES
75. 2014 3 10 2014 2 2014 3 6 845 170 2014 8 3 amp sh ared hesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4651 SR Research Report 2014 5 14 2014 3 4 5 6 10 11 12 5521 5091 5 141 5274 534
76. 5 288 4 775 4 095 3 498 2 690 3 190 2 549 2 996 2 568 2 092 1 310 1 323 6 820 6 285 9 994 9 805 10 814 5 760 3 470 3 365 2 608 2 482 1 776 2 250 16 9 3 0 22 5 4 8 28 5 26 7 SR 2006 sh ared WeseaTch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 P V
77. 3 07 2 37 2 25 2 22 Nomura PB Nominiees Limited Omnibus Margin CASHPB 1 58 SR 2013 3 sh ared WeseaTch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2 1 23 092 436 8870 1 1978 9 12 1996 9 13 HP http sanix jp 3 IR IR http sanix jp ir IR IR W961151 sanix co Jp 092 436 8882 Sh afedi esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4651 SR Research Report 2014 5 14
78. 594 49 9 172 158 7 HS 10 818 27 0 1 141 35 796 H S P V 83 09 ES 6 011 51 6 190 36 5 11 39 133 996
79. 1 052 1 913 2 965 2 240 6 590 8 830 177 496 88 29 112 9 244 59 6 197 89 SR P V 2014 4 S E S E H S 2015 3 S E E S 2015 3 S E 20
80. SR 2014 3 1 2014 3 1 15 753 78 6 966 116 925 116 779 171 2014 3 1 P V 2013 3 4 H 5S ES
81. 2014 3 2 31 692 74 3 1 496 185 3 1 443 183 7 1 052 177 4 2014 3 2 P V 2013 3 4 H 5S PV E 5 Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved
82. 2004 2007 2007 25 179 2006 102MW 2008 2 708MW sh ared WeseaTch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2008 9 2009 17MW 20 6 3 2015
83. 2013 4 6 1 2013 2 2013 4 100 2014 8 9 10 11 12 1 SR 1 4 6 24 29 3 10 12 22 9 2013 3 277 2014 3 3 1 077 1 4 6 356 4 8 3 10
84. DPS BPS 147 148 149 185 247 1 255 1 138 1 366 3 559 9 237 5 153 5 890 6 964 14 652 38 649 11 828 11 763 11 724 12 326 14 181 1 991 1 843 1 802 1 533 1 914 1 023 910 796 685 573 19 996 20 407 21 286 29 196 55 317 1 159 868 1 386 5 460 20 115 5 345 2 425 2 325 3 338 5 000 9 342 6 961 8 381 14 873 36 582 1 726 4 319 3 560 2 820 3 695 3 599 6 343 5 770 5 486 6 907 12 941 13 304 14 151 20 359 43 489 7 055 7 103 7 135 8 837 11 828 7 380 7 505 6 714 7 056 9 674 563 55 1 260 2 185 4 934 2 304 214 151 222 1 729 1 946 43 882 230 2 433 ROA 0 2 0 1 6 2 7 0 ROE 0 7 0 2 19 8 28 8 35 1 34 7 33 4 30 2 21 3 SR
85. i 43 xs 44 i 46 46 47 eo 49 EE 49 ss 50 Sh aredd esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4651 SR Research Report 2014 5 14 10 3 11 3 12 3 13 3 14 3 15 3 24 539 28 980 31 454 43 366 84 212 161 500 2 8 18 1 8 5 37 9 94 2 91 8 9 918 10 276 10 442 13 370 21 421 6 1 3 6 1 6 28 0 60 2 40 4 35 5 33 2 30 8 25 4 390 502 410 1 870 4 508 14 000 28 6 18 3 356 4 141 0 210 5 1 6 1 7 1 3 4 3 5 496 8 7 225 430 348 1 789 4 310 13 800 91 2 19 196 414 1 140 99 220 2 0 9 1 596 1 1 4 1 5 196 8 5 3 676 50 14 1 575 2 965 8 830 71 8 88 2 197 8 15 0 0 2 0 0 3 6 3 5 5 596 a VL 48 919 48 919 48 919 48 919 48 919 EPS 77 1 1 0 0 3 33 0 62 1 184 7 EPS
86. 6 H S E S a 4 se 9 e e e or frie gt 0 e 9 Sh ared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 kW kW
87. 100 10kW 7 6 1 84 7 6 12 89 2014 3 1 15 753 16 027 965 1 056 924 1 015 778 830
88. 12 1 009 8 49 HS 8 448 28 3 1 095 27 8 HS P V 83 9 Shared Gxcscarch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 ES 3 913 72 2 108 119 1 315 896 2014 2
89. 465 1 SR Research Report 2014 5 14 Photovoltaic Power Generation P V NEDO 2020 2005 20 29 GW 2030 40
90. 411 7 23 2 177 8 139 1 SR shared esearch lp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 BN ODED OPT a 3 Es ee Ke OT HDA ET EE TTY KK I uu LO Ric ee TT A TN EC LE TD WE 2 2 49 k W 1 200 1 300 27 k W 170 7 8
91. P V 2013 3 4 60 56 49 P V 2013 3 22 2 8 4 10 kW HS 2013 3 34 2 46 79 2006 7
92. 53GW 2030 10 nn NEDO New Energy and Industrial Technology Development Organization 2012 0 4 2011 0 2 2030 2012 340 1529 13 3 http www sharedresea
93. SR Research Report 2014 5 14 4651 sr_inquiriesQ sharedresearch jDp 0 465 1 SR Research Report 2014 5 14 esse 4 i 4 i 5 oe 9 lt 9 jj a 27 iii 32 ck lt lt CcCc 32 39
94. 1 109 1 155 1 293 1 413 1 421 t 51 530 67 347 82 782 93 055 94 305 21 5 17 2 15 6 15 2 15 1 1 282 1 609 1 887 2 264 2 255 t 60 292 87 434 102 930 128 658 125 617 21 3 18 4 18 3 17 6 18 0 804 1 107 1 337 2 422 4 333 t 38 796 61 517 74 321 90 531 109 392 20 7 18 0 18 0 19 1 40 4 3 603 4 295 5 023 6 673 8 665 t 169 875 241 000 290 738 348 854 370 362 21 2 17 8 17 3 19 1 23 4 612 472 676 611 724 4 215 4 768 5 700 7 284 9 389 SR C amp R 1 5 1 1 1 OS lt
95. 600 900 630 1 820 5 100 3 676 50 14 1 575 2 965 94 596 98 396 13 596 41 996 SR 1 Sh sfed http www sharedresearch jD esearch Copyright C Shared Research Inc All Rights Reserved 4651
96. 2005 3 2005 7 2006 3 1 552 2006 7 3 6 2006 8 2007 3 1 992 sh ared WeseaTch http www sharedresearch jp Copyr
97. 27 k W 2012 10 12 10 kW 50 kW 43 7 8 159 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 I RR 8 2011 2013
98. 28 9 35 2 31 5 29 0 29 4 27 4 25 59 22 5 2 670 2 652 3 260 2 918 3 666 3 842 4 140 5 266 2 1 5 6 33 5 18 4 37 3 44 89 6 27 0 80 5 30 3 28 396 35 496 18 3 23 396 24 1 20 9 16 1 116 640 358 1 704 966 530 925 2 087 71 6 6 300 17 2 22 596 236 8 6 8 10 7 6 1 3 396 4 7 6 4 7 5 116 625 424 1 705 925 518 743 2 124 71 8 6 000 17 0 24 6 235 49 6 7 10 7 5 9 3 3 3 7 6 5 7 1 171 550 505 1 701 779 273 249 1 664 82 4 3 600 50 3 2 2 128 6 5 9 10 7 4 9 1 7 1 3 5 1 4 3 SR Shared esearch lt http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2014 3 84 221 94 2 4 508 141 0 4 309 140 9 2 964 88 2
99. 70 50 30 1 873 2 024 2 141 2 616 3 182 3 599 6 343 5 770 5 486 6 907 12 941 13 304 14 151 20 359 43 489 14 042 14 042 14 042 14 042 14 042 a 9 4 5 441 5 391 5 377 3 733 769 7 055 7 103 7 135 8 837 11 828 3 296 3 690 4 794 8 235 7 380 7 505 6 714 7 056 9 674 6 125 6 367 5 349 3 497 437 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2013 3 2010 3 2011 3
100. 16 913 38 8 33 796 31 9 26 5 20 1 390 502 410 1 870 4 508 28 6 18 3 356 4 141 0 1 6 1 7 1 3 4 3 5 4 124 126 133 138 209 290 198 195 219 407 225 430 348 1 789 4 310 91 2 19 1 414 1 140 9 0 9 1 5 1 1 4 1 5 1 162 75 4 143 3 779 153 10 19 283 302 329 337 1 345 8 3 85 8 96 3 17 6 31 2 3 676 50 14 1 575 2 965 71 896 88 2 15 096 0 2 0 0 3 6 3 5 4651 SR Research Report 2014 5 14 1 04 3 05 3 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 43 987 44 084 36 510 28 908 26 511 25 234 24 539 28 980 31 454 43 366 12 7 0 2 17 2 20 8 8 3 4 8 2 8 18 1 8 5 37 9 PV 1 411 9 617 581 6 4 5 22 2 6 073
101. 465 1 SR Research Report 2014 5 14 P V HS P V Photovoltaic 15 155 896 953 179 30
102. 14 3 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2011 3 2013 3 Spring Plan 2012 i P V MP 2013 10 S R P V 2014 3 P NN
103. 4 5 14 2010 3 2011 3 2012 3 2012 3 10 3 11 3 12 3 13 3 jc 25 000 27 500 36 000 38 000 71 500 24 539 28 980 31 454 43 366 84 212 1 8 5 496 17 296 14 196 17 896 750 1 240 1 300 2 000 8 000 390 502 410 1 870 4 508 48 0 59 596 68 596 6 596 43 696 720 1 150 1 250 1 970 7 950 225 430 348 1 789 4 310 68 8 62 6 72 296 9 296 45 896
104. 9 5316 6 184 6631 7025 7810 8 460 16 534 84 337 107 9 686 633 638 928 578 1248 1348 929 77 8 58 2 165 8 PV 2401 2450 2604 2634 2380 3 620 3949 5391 5562 6 109 12683 49 783 633 6 1618 125 7 403 3 HS 3842 1091 1059 1 079 971 917 824 797 723 688 727 942 13 660 179 0 26 1 25 4 28 2 21 2 39 9 27 4 27 7 35 6 5 7 31 1 24 6 ES 398 311 491 408 411 619 431 437 445 328 501 1270 6050 70 1 318 938 646 88 1 135 3 125 8 57 3 268 70 306 32 6 1281 1288 1407 1 183 1333 1344 1309 1448 1446 1232 1123 1639 16033 227 88 27 82 13 1 02 143 327 09 38 67 9 7 SR 13 3 14 3 14 3 Pc 16 cte P46 E16 8 823 9 362 9 218 15 964 15 753 15 939 19 841 32 689 99 796 84 500 17 6 17 8 16 09 98 1 78 6 70 3 115 2 104 8 94 9 2 554 3 292 2 902 4 622 4 631 2 5 065 7 353 11 2 6 3 9 6 92 4 81 3 32 8 74 5 59 1
105. W 2012 P V 10 kW 50 kW 10 kW 50 kW 50 kW
106. ight C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 2008 3 2009 3 2010 3 H 5 2013 3 1 776 10
107. opyright C Shared Research Inc All Rights Reserved 465 1 SR Research Report 2014 5 14 09 3 10 3 11 3 12 3 13 3 14 3 7 600 7 934 9 511 11 890 14 967 14 850 1 6 4 4 19 9 25 0 25 9 0 8 3 603 4 295 5 023 6 673 8 665 8 670 1 550 1 276 1 427 2 303 3 370 3 310 1 833 1 474 1 444 1 595 1 602 1 741 415 939 706 607 518 611 472 676 611 722 611 1 818 1 112 216 288 1 568 1 720 444 8 9 7 SR
108. rch jp Copyright C Shared Research Inc All Rights Reserved 1 465 1 SR Research Report 2014 5 14 2011 2012 2030 2030 2012 1 450MW 2 500MW S 500MW 34096 1 200MW 1 500MW 5 000MW 250MW 1 000MW 3 500MW 2 200 2 500 3 800 SR IHS 2013 2012 2 2 530 k W 198 1 9 100 1 RPS 2004 2005
Download Pdf Manuals
Related Search