Solar Energy Market Growth Even Hotter in 2010

What a difference a year makes in solar energy market growth. Last July, solar panel makers and their suppliers were feeling the strong jab of the recession and wondered whether the young solar industry could survive this downturn. Then, unexpectedly strong demand in Germany and the rest of Europe pulled solar manufacturers out of their decline. In fact, global solar panel shipment in the second quarter of 2010 is up 92% from a year ago, according to a report released by IMS Research Monday.  

"Property owners are telling us they are tired of endless rate hikes, fossil fuel pollution & propaganda, as well as, funding terrorists & wars to protect supplies," says Ken Boyle, SolarFusionCorp Vice President

American solar panel makers have seen a surge in sales with the recent solar energy market growth.  IMS has forecast that 14.6 gigawatts of solar electricity generation capacities will likely be added worldwide this year, almost doubling the capacity added in 2009.  "All the suppliers are producing near their maximum capacities, and they are expanding quickly this year," says Sam Wilkinson, an analyst at IMS.

Solar energy projects built in Germany could account for 47% of the global installations in 2010, IMS says. The U.S. could take up 8% of the same pie, Wilkinson says. 

Several research firms made 2009 projections that didn't resemble the actual production and installation statistics. But many of them are certain that this year will a blockbuster one for the industry. Back in April, Photon Consulting was projecting, 24.4 gigawatts of new installations globally for 2010. Solarbuzz, meanwhile, is forecasting 15.2 gigawatts.

That sense of optimism certainly has showed up in investments into solar technologies: They grabbed the most dollars from private-equity firms during the second quarter of this year.

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