PARIS - Photovoltaics will continue to be a fast growing industry, according to the European Commissionís Joint Research Center (JRC).
In its newly published report, 2012 Photovoltaics Status Report, JRC indicated that the PV industry production rose by almost 40 percent in 2011, reaching a worldwide production volume of about 35 GWp of PV modules.
Last year, worldwide new investments into the renewable energy and energy efficiency sectors represented $263 billion, including $25.8 billion R&D spending. For the second year in a row, solar power attracted the largest amount of new investments into renewable energies and increased by 44 percent to $128 billion.
Compiling investment analysts and industry prognoses, JRC said solar energy will continue to grow at high rates in the coming years. The different Photovoltaic Industry Associations, as well as Greenpeace, the European Renewable Energy Council (EREC) and the International Energy Agency, have developed new scenarios for the future growth of PV.
Table 1: Evolution of the cumulative solar electrical capacities until 2050
It presents the various scenarios of the Greenpeace/EREC study, as well as the different 2011 IEA World Energy Outlook scenarios and the IEA PV Technology Roadmap.
These projections, JRC explained, demonstrate that "there are huge opportunities for PV in the future, if the right policy measures are taken". Indeed, such a development will not happen by itself. It will require the constant effort and support of all stakeholders to implement the envisaged change to a sustainable energy supply with PV delivering a major part, JRC concluded.
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