Analysis Of Solar PV Power Market

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5 Solar PV Power Market, Global, 2001-2020 5.1 Solar PV Power Market, Global, Overview Solar Photovoltaic power is one of the rapid growing energy sources in the world. The need for energy security and stability is driving governments across the world to promote and develop renewable power sources. The global solar Photovoltaic market witnessed high growth in 2009 and 2010, with 24,600 MW of installed capacity coming online in these two years compared to the 8,912 MW installed in 2007 and 2008. Cumulative installed capacity increased from 16,127 MW in 2008 to 40,727 MW in 2010. Europe is the leading solar PV market, with a share of 76% of the total cumulative installed capacity, followed by the Asia-Pacific region, accounting for a share of 16.0% in 2010. The year 2011 is seen as the year of transition on the solar PV industry. Europe, the largest market for solar PV, is expected to lose its market share to newly emerging markets such as Canada, India and China. India and China have announced ambitious PV targets and are seen as the next hot beds for PV investments. It is expected t...

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