Europe remained a leader in newly installed capacities accounting for 51.7% (16.8 GW) of the 30 GW installed worldwide.
Abundant solar resources in combination with zero emissions from solar installations have attributed to PV energy systems a key role in the transition to a low carbon energy supply.
This potential has driven development of more efficient PV modules and transformed the sector into one of the fastest growing industries. Production of PV cells and modules has gone from 46 MW in 1990 to 38.5 GW in 2012.
Statistically documented cumulative installations worldwide accounted for almost 100 GW in 2012 placing the EU in the lead position with its share of over 69 GW. Within the EU, Germany has kept its leading position in PV installation with an additional 7.6 GW in 2012, while Italy's newly installed 3.5 GW have allowed it to reach an electricity production covering 7.3% of the total electricity demand during the first seven months of 2013.
A steep, 80% drop of solar modules prices between 2008 and 2012, triggered by an overcapacity of production, created serious financial problems for manufacturers, but led to a consolidation of the industry and fuelled an extensive growth for the PV market in Asia: 60% in 2012 and a projected 100% in 2013. The rise in annual production has resulted in China and Taiwan to accounting for 70% of the global production. Even with the on-going difficult economic conditions, the number of the new PV markets is increasing.
This, along with rising energy prices and the pressure to stabilise the climate will maintain a high demand for solar power systems. Electricity production from PV modules has already proved that it can be cheaper than current conventional consumer electricity prices in many countries.
In addition, renewable energies which are not fuel-dependent, are, in contrast to conventional energy sources, among the technologies to offer the prospect of a reduction in prices.
Berta Duane | Source: EurekAlert!
Further information: www.ec.europa.eu
More articles from Business and Finance:
5 things newly appointed CIOs must do to succeed
22.11.2013 | European School of Management and Technology (ESMT)
First port of call for news business models
08.11.2013 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO
Researchers from Brown University and the University of Hawaii have found some mineralogical surprises in the Moon's largest impact crater.
Data from the Moon Mineralogy Mapper that flew aboard India's Chandrayaan-1 lunar orbiter shows a diverse mineralogy in the subsurface of the giant South Pole Aitken basin.
The differing mineral signatures could be reflective of the minerals dredged up at the time of the giant impact 4 billion years ago, ...
In power electronics systems bonded connections create the central electrical connections between adjoining surfaces.
The quality of these bonded connections is one of the main factors that determines the reliability and availability of drive systems in electric vehicles, and hence constitutes a major design challenge for German auto manufacturers aiming to electrify their vehicles.
Now the partners participating in the RoBE (Robust Bonds in ...
International team of scientists develops new feedback method for optimizing the laser pulse shapes used in the control of chemical reactions
In many ways, traditional chemical synthesis is similar to cooking. To alter the final product, you can change the ingredients or their ratio, change the method of mixing ingredients, or change the temperature or pressure of the environment of the ingredients.
Like an accomplished chef, chemists have become very skilled ...
A genetic defect protects mice from infection with influenza viruses
A new study published in the scientific journal PLOS Pathogens points out that mice lacking a protein called Tmprss2 are no longer affected by certain flu viruses.
The discovery was made by researchers from the Helmholtz Centre for Infection Research (HZI) in Braunschweig in collaboration with colleagues from Göttingen and ...
The Light: Global study gets underway with online user survey
Light has a fundamental impact on our sense of well-being and performance. In cooperation with Zumtobel, a supplier of lighting solutions, Fraunhofer IAO has launched a global user survey of lighting quality in offices. The objective is to identify the best lighting conditions for a variety of spaces and lighting ...
10.12.2013 | Physics and Astronomy
10.12.2013 | Agricultural and Forestry Science
10.12.2013 | Power and Electrical Engineering
10.12.2013 | Event News
05.12.2013 | Event News
04.12.2013 | Event News