EPIC, the European Photonics Industry Consortium, has released a report on the photovoltaic market, including production, deployment and R&D investment. Worldwide sales of photovoltaic panels reached $US82bn in 2010, while electrical generation capacity installed was 17.8Gwatts. EPIC data shows that installations grew by 137 per cent compared to 2009.
In Europe, 57.6Gwatts of electrical generation capacity from all sources were installed in 2010. For the first time ever, more PV generating power was installed in Europe than any other renewable energy resource. PV at 14.7Gwatts out-paced winde installations by nearly 60 per cent. By 2010, the cumulative installed PV generating base worldwide reached 40Gwatts.
In terms of production, 15 per cent more wattage of PV cells was manufactured than generating capacity installed (20.5Gwatts compared to 17.8GWatts). Together, China and Taiwan now account for about 45 per cent of world supply.
The EPIC Photovoltaic Report is distributed exclusively to EPIC members as a membership benefit.