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Solar Power Heats Up with a Jolt from Incentives

Saturday, June 20, 2009
Posted in Sustainability | Tagged Sustainability

Global solar photovoltaic (PV) power installations jumped from 9,000 megawatts in 2007 to nearly 15,000 MW in 2008, an increase of almost 66 percent. This chart-bursting growth is due primarily to government incentive programs in the world’s top PV markets, Spain and Germany. Feed-in-tariff policies, which require utilities to buy electricity generated from solar power projects at a regulated price, have been pivotal in the development of the solar market.

A new snapshot of solar power market trends globally and by country reveals that:

• Global PV cell production nearly doubled in 2008, reaching 6,940 MW. The Chinese PV industry led silicon-based cell production, primarily to meet soaring demand in Spain and Germany.
• Europe remains the leading market for PVs, accounting for over 80 percent of world demand in 2008. Top markets Spain and Germany added 2,600 MW and 1,500 MW respectively. The United States came in a distant third, adding approximately 348 MW.
• Spain’s market growth increased a whopping 364 percent in 2008, causing it to overtake industry leader Germany as the number one solar PV market.

This new solar power update includes the latest figures for multiple solar power technologies, including solar PV and concentrating solar power.

Read the Vital Signs analysis, “Solar Power Experiences Strongest Year of Growth Yet.”

Complete trends will be available with full endnote referencing, Excel spreadsheets, and customizable presentation-ready charts as part of our new subscription service, Vital Signs Online, slated to launch this fall.