2007 PV Solar Figures Reviewed
05/09/2008
SustainableBusiness.com News
Global production of photovoltaic (PV) solar cells increased 51% in 2007 to 3,733 megawatts, according to a review of industry figures by WorldWatch Institute.
Other highlights include:
- Led by Germany's Q-Cells AG (QCE.DE), Europe surpassed Japan in volume of PV manufacturing.
- Fueled by a generous feed-in tariff, Germany remained the top installer of PV, accounting for roughly half the global market. Spain ranked second
- PV production in China grew rapidly, making the country the second largest producer, accounting for 22% of global production.
- PV cell production rose 48% in the U.S. to a total of 266 MW--representing only 7% of global supply.
- Italy, France, Portugal, South Korea and India are emerging on the international solar market.
Forecasts for the year ahead are centered around an increasing polysilicon supply, expected to become available in the third quarter, and analysts are predicting price parity with conventional power in two to seven years.