Photovoltaic market growth 2010 statistics

Germany is still the largest photovoltaic market in the world, and photovoltaics are still one of the fastest growing renewable energy sectors. Worldwide photovoltaic installations were expected to rise to 14.2 GW by the end of 2010, but as it turns out this number will likely be around 15,8 GW at the end of 2010.

At the end of the 2009 the total worldwide installed photovoltaic capacity was at 7,2 GW, which means that year 2010 will represent a staggering growth of 119 percent compared to 2009.

The main reason for such tremendous growth was Germany, mostly because German photovoltaic sector grew exceptionally well during the first half of the 2010, when Germany alone installed around 3,9 GW of photovoltaics.

In 2011 things should slow down, and the latest predictions forecast 19.3GW in the beginning of 2011, which is slightly down from previous forecasts that predicted 20,2 GW of photovoltaic installations.

Many energy experts are saying that this slowdown will be actually good thing because it will drive down prices of solar panels, and stimulate bigger demand in the second half of the year. The slowdown in first quarter of the year is actually very common thing for global photovoltaic market, and 2011 will just be following the trend.

Energy analysts predict that this slowdown will cause the decrease of average price for crystalline solar module by around nine percent in the first quarter of 2011, and further six percent in the second quarter.

At the end of 2011 Germany should add 9.4GW of new photovoltaic installations. However, Germany despite being the world's largest photovoltaic market isn't also a world's fastest growing photovoltaic market. UK is currently the fastest growing photovoltaic market in the world, with a total increase of massive 1500% compared to 2009. In 2009, UK had just 6 Megawatts (MW) of PV systems, and this number is expected to grow to 96 MW by the end of 2010.