Solar Market Could Explode

Worldwide, the U.S. still has the greatest potential to increase its position in the solar market. The annual worldwide PV installations increased from 5.8 GW in 2008 to 6.6 GW in 2009. However, the market dropped 15.8% due to the price drop of cell and modules.

However, the U.S. gained 6% of the PV market increasing in 2009 to $3.5 billion. PV installations rose to 469 MW, making up 7% of the worldwide installation. SBI Energy forecasts 900 megawatts of PV installations in 2010, rising to 7,600 MW of PV installations in 2014. The new report released by SBI Energy pointed out that, An extension of the solar tax credit and new recovery act funding helped keep the U.S. photovoltaic market on its continuing upward trajectory despite the turmoil that affected other solar market sectors globally. By 2014, photovoltaic installations are forecast to reach 7,600 megawatts by building on renewed interest in solar from utilities and the extension of the solar tax credit. Full report: http://www.marketresearch.com/product/display.asp?ProductID=2385474

Future growth is attributed to the anticipated strength of strong photovoltaic module sales in countries such as the United States, Germany, and China, in addition to a continuing strong solar thermal market in the two latter countries.