IMS Research has indicated that a total solar PV capacity in the order of 14.6 GW might be added in 2010, marking an increase of 95% from the 2009 figure. Over half of these solar installations might spring up in the Czech Republic, Italy and Germany. Nevertheless, a shift in the growth from the European markets to North American and Asian markets can be expected.
The Marketbuzz 2010 report indicated that an overall solar PV capacity in the order of 7.5 GW was added in the year 2009 with the Czech Republic, Italy and Germany contributing around 77% to this growth.
For many years, Germany has maintained its leadership position in the solar PV industry. It represented around 50% of the overall solar PV installations in 2007. The revenue of the German solar industry, which stood at around $6 billion in 2007, is expected to hit $10 billion in 2010.
India has introduced the National Solar Mission targeted at installing 20,000 MW capacity of solar energy production by the year 2022. A major portion of this would come in the form of photovoltaics. Moreover, the Indian government has announced numerous incentives for the solar power industry.
The government of China has also launched steps to promote the solar PV industry. Recently, a law was introduced that necessitates all the energy produced from renewable energy resources to be purchased by the industry. Recently, Suntech of China has established an agreement with the China Development Bank valued at $7.33 billion.