Electronics.ca: Solar Energy Technology Markets Reach $338.2 Billion by 2017

Montreal, Canada, August 11, 2011 --(PR.com)-- Electronics.ca Publications, the electronics industry market research and knowledge network, announces the availability of a new report entitled "Solar Technology Market Shares, Strategies, and Forecasts, Worldwide."

Solar energy units re evolving more sophisticated technology that works. The worldwide demand for energy is steadily increasing. Demand for energy is doubling every 15 years. The major effort is to sustain growth in the electricity supply without causing irreversible harm to the environment. Solar energy has rapidly grown as a clean, renewable alternative to limited fossil fuels. Recognition of the need to reduce reliance on coal and fossil fuels is driving interest in solar energy.

Growth of solar markets will depend on continued investment in energy infrastructure by governments. When you think about it, there is no better investment government can make than in achieving development of low cost, reliable solar energy. This availability of low cost energy is what makes an economy hum. Some governments are sure to recognize these issues and make the investment, others will not.

The worldwide demand for energy is steadily increasing. Demand for energy is doubling every 15 years. The major effort is to sustain growth in the electricity supply without causing irreversible harm to the environment. Solar energy has rapidly grown as a clean, renewable alternative to limited fossil fuels. Recognition of the need to reduce reliance on coal and fossil fuels is driving interest in solar energy.

There are three main areas of solar technology: crystalline types are suitable for colder temperatures at high latitudes, thin film types and concentrating solar technology. The largest market for photovoltaics is for large scale utility systems connected to the electrical grid. There are 150 solar manufacturers with measurable market shares in some region. Solar markets are significant with 16,469 solar panel manufacturers. This is by far the largest number of viable, functioning companies in any market segment. This many companies participating in the market mean there is enormous, ongoing investment in new technologies. The competitive situation bodes well for market growth, with solar energy complimented by wind and stationary fuel cells poised to become virtually the only systems that deliver energy for the world.

Global production of photovoltaic cells and modules in 2009 was 9.2 GW gigawatts. In 2010, a tremendous growth of solar PV cell shipments increased the solar PV cell market shipments to 16.6GW. The top ten manufacturers accounted for 67% of this total. Solar energy is headed toward becoming the only viable energy source, complimented by wind and some fossil fuels and the nuclear industry in China. Solar energy, now at less than 1% of world electrical generation, will quickly go to 92% of what is used as a source to generate electricity. The speed of adoption of solar energy and the penetrations will rival or exceed the speed of adoption and penetrations of cell phones. The same factors are in play, relatively low cost local units, battery power mobility supported, and availability to everyone at an affordable price.

As electric vehicles come on-stream for use in short distance travel, they complement the internal combustion vehicles used to move longer distances. The use of electricity will extend support of travel of short distances by electric vehicles, vastly increasing the quantity of electricity generated. Electricity for vehicles will be distributed in two ways, through parking meter type posts in garages and on streets, and from hardened boxes in a yard or parking facility that contain many thin film batteries with high energy density. Vehicle fuel from solar energy is what provides the quickest payback for solar panels. Markets at $32.1 billion in 2010 are set to grow to $338.2 billion by 2017, reaching $1 trillion sometime in the middle of 2021.

Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' web site. View the report: http://www.electronics.ca/publications/products/Solar-Technology-Market-Shares%2C-Strategies%2C-and-Forecasts%2C-Worldwide.html

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