Solar Industry Sees Expansion in Near Future

<p>US technology research firm iSuppli, released a report with an optimistic forecast for the solar industry:<br /> <br /> <em>Worldwide investments in the production of Photovoltaic (PV) cells will rise to the same level as those for semiconductor manufacturing by 2010, due to booming demand for solar energy, according to iSuppli Corp. <br /> <br /> Global production of PV cells is expected to rise to as much as 12 Gigawatts (GW) by 2010, up from 3.5GW in 2007. By 2010, as many as 400 production lines in the world that can produce at least 1 Megawatt (MW) of PV cells per year will be in place, representing a four-fold increase from about 90 to 100 production lines in 2007. Factories capable of 1GW of annual PV production also will be established in the future to ensure continued strong delivery of PV cells to the market.</em><br /> <br /> <em>Growth of the PV market is currently driven by several factors, Wicht said. While the high price of oil and surging energy prices fuel demand for solar power in the short term, demand will be no less in the years to come. Projections show the world will need three to four times more electrical power over the next 50 years to support continued growth in population and economic output. And by 2100, 80 percent of energy must be generated from renewable sources, according to the German Advisory Council On Global Change.</em></p>
<p>Read the full report <a href="">here</a>.</p>