Solar cells: Worldwide solar PV installations hit record 43GW in 2009

Global solar PV installations reached a record high of 6.43GW in 2009, representing a 6 percent YoY increase, according to international solar energy market research and consulting company Solarbuzz. Worldwide revenues hit $38 billion, with more than $13.5 billion in equity and debt, up 8 percent from 2008.

European countries accounted for 4.75GW or 74 percent of total demand during the period, based on Solarbuzz's Marketbuzz 2010 Report. The top three countries in the region in terms of adoption were Germany, Italy and the Czech Republic, which collectively represented 4.07GW.

Italy was the second-largest market in the world. In contrast, demand in Spain dropped to just 4 percent of its prior year level. The third-largest market globally was the US, which grew 36 percent to 485MW. Following closely behind was a rejuvenated Japan, ranked fourth and expanding 109 percent YoY. Worldwide solar cell production reached 9.34GW in 2009, up from 6.85GW a year earlier. Thin film output made up 18 percent of the total. Mainland China and Taiwan continued to build share and now collectively account for 49 percent of the global yield. The industry is expected to return to high growth beginning 2010, expanding to more than twice its current size by 2014. More aggressive forecasts place annual revenue at $100 billion by that year. Published with permission from EE Times-Asia. Read full article

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