Photovoltaics Frenzy
Having already surpassed the billion-dollar mark in 1999, the photovoltaics market is projected to increase ten fold by the year 2010, according to a recent report by Allied Business Intelligence (ABI), Oyster Bay, N.Y.
Staff
Having already surpassed the billion-dollar mark in 1999, the photovoltaics market is projected to increase ten fold by the year 2010, according to a recent report by Allied Business Intelligence (ABI), Oyster Bay, N.Y.
Now that photovoltaic production has finally started reaching a point where the economies of scale have made the units more affordable, the report predicts a shift in that production will not be able to meet future demands.
Specifically, the study calculates that production may reach 300 megawatts per year by the end of 2000, and 800 megawatts by 2005. However, the demand for photovoltaics may exceed 900 megawatts by 2005, and reach 5 gigawatts per year by 2010.
The ABI report analyzes a wide variety of photovoltaic applications including commercial buildings, green power programs, village power and solar pumps.