Global PV Industry Gaining Significant Momentum
By admin August 16, 2010 8:39 am IST
The political framework of a particular country largely affects the PV industry development and structure. Support schemes by authorities and their revision or removal define the overall industry growth.
The dependence on fossil fuels and the associated volatility of their international prices, coupled with increasing concerns over the greenhouse gas emissions worldwide, has led to the evolution of the concept of renewable energy over the past few years. The industry has qualified as the most feasible solutions and has been increasingly gaining considerable attention among industry players all around the world. With growing demand for clean energy sources, the manufacturing and deployment of solar PV cells and photovoltaic arrays have expanded dramatically in the recent years, resulting in augmented market competition and abolishment of monopoly.
According to a latest research report published by RNCOS, “Global Photovoltaic Market Forecast to 2013”, the global PV industry has been witnessing robust growth for the past few years on the back of favorable government policies and rising public investment. Depleting conventional sources, highly volatile oil prices and environmental concern are some of the major factors which highlighted the need for renewable sources like Photovoltaic. Countries around the world are adopting various measures to increase PV installed capacity so that the dependence on conventional energy sources can be minimized. In 2009, the annual global PV installed capacity registered growth of 14.3% year-on-year.
The political framework of a particular country largely affects the PV industry development and structure. Support schemes by authorities and their revision or removal define the overall industry growth. The report analyzes governments’ perspective while forecasting the future growth and our industry experts have studied major factors like R&D spending, laws and regulations that support the industry.
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