Jul 1 2010
Solarbuzz, a solar energy consulting and market research company, has indicated that the worldwide demand for photovoltaics has continued to increase in 2010 and is expected to double over the installation rates recorded the previous year.
In its latest Solarbuzz QUARTERLY Report, the company has increased the market size of solar in 2010 to 15.2 GW, as against 7.5 GW in 2009. A 12.7-GW power generation is projected for this year’s last three quarters, which will be driven by strong growth rates across the United States, Europe, Japan and China, along with start-up markets of a smaller range.
The President of Solarbuzz Craig Stevens mentioned that in spite of the uncertainty that looms over policy results, a challenging inverter supply and economic environment, the PV industry has once again demonstrated the fact that consumers do respond towards supportive government policies. He also added that the increase in demand is a direct response to the price cuts afforded by reduced manufacturing expenses. Resultantly, the supply of inverters and modules is just about keeping up with the global demand. Additionally, preliminary data on worldwide industry revenues indicates a 40% drop in 2010 Q1.
Source: http://www.solarbuzz.com