Cumulative Installed PV expect to increase 40% in 2010

According to the latest market analysis, the global solar photovoltaic (PV) electricity market saw about 7.2 GW of new capacity installed in 2009, bringing the total global installed capacity to more than 22 GW worldwide.

Crucially, the industry itself, through the European Photovoltaic Industry Association (EPIA), identifies this growth as 'the most important annual capacity increase ever' which it says is particularly impressive in light of the difficult financial circumstances seen over the past year.

Furthermore, in 2010, global cumulative installed PV capacity is expected to grow by at least 40%, while the annual growth is expected to increase by more than 15%. Much of this growth is anticipated to be seen in Europe, which remains the leading market for PV technology.

Meanwhile, in the medium term, Italy appears as one of the most promising markets with an additional capacity of some 730 MW installed in 2009, more than doubling from 2008's 338 MW. The country's strong incentives and good solar resources should help the market stay strong in 2010, US trade group the Solar Energy Industry Association (SEIA) says, referring to both the high levels of solar irradiation, and the new Conto Energia law, which is due to be announced as REW goes to press, and which is expected to support strong momentum in the Italian market.

Source:   Renewable Energy World     Read full article here