May 21 2010
Recently, two new analyses titled ‘Concentrating Solar Power Technology Roadmap’ and ‘Solar Photovoltaic Energy Technology Roadmap’ was presented by the International Energy Agency (IEA) in Valencia, Spain.
These analyses indicate that 20-25% of the worldwide electricity generation can be from solar energy by 2050. IEA concluded that concentrating solar power and photovoltaic solar (solar PV) can generate 9,000 TWh of electricity by 2050.
As of 2008, the installed capacity of solar PV in the U.S. stood at 1.2 GW. Even though the total amount of installed capacity has been increasing over the years in the U.S., in comparison with other countries this growth has been slow. For instance, Spain and Germany have developed at a faster rate. Nevertheless, the ‘2009 US Solar Industry Year in Review’ by Solar Energies Industry Association (SEIA) indicates a sharp increase in 2009 in installed capacity.
Over the years, the average solar PV cost has decreased considerably and coupled with government incentives and innovative group purchasing programs such as the offerings of 1BOG, many businesses and houses are installing solar panels.
Since mid-2008, solar PV modules’ prices decreased 40% and the average installed capacity expense dropped around 10% from 2008-2009. As a consequence, installed solar capacity during late-2009 increased to 2.1 GW in the U.S. indicates SEIA.
In its recent report, the European Photovoltaic Industry Association (EPIA) indicated that the U.S. PV electricity market had an installed capacity of around 477 MW in 2009.