The global solar photovoltaic (PV) market is set to grow in 2011, with installations expected to increase by 42.3 per cent on this year, new research shows.
Market research firm iSuppli has claimed that at the end of 2010 solar installations will total 14.2GW and next year they will reach 20.2GW.
It placed Europe as the largest region for solar installations, with Germany registering as the world's leading nation in the PV market.
Stefan de Haan, senior analyst for PV materials and systems at iSuppli, commented: "The strong results projected for 2011 come despite softening demand anticipated during the first quarter of next year.
"As a result, prices will weaken at the end of the first quarter. However, the feebleness of the pricing will be responsible for demand momentum building up in the second quarter … From then on, a significant demand rally can be expected, leading to a price rebound in the second half."
Indeed, installations could be boosted with the government's feed-in tariff and as more utility firms offer free installations in return for funds from the scheme.
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