Solar PV grew 19% worldwide in 2006, says Solarbuzz

Solar photovoltaic (PV) installations around the world reached a record high of 1,744 megawatts (MW) in 2006, representing growth of 19% over the previous year, according to Solarbuzz.

The San Francisco-based solar energy consultancy today released its annual PV market report.

Germany's grid-connect PV market size was 960 MW in 2006 and now accounts for 55% of the world market. While Japan's market size barely grew last year, Spain and the United States were the strong performers. The Spanish market was up over 200% in 2006, while the U.S. market grew 33%, according to the report.

World solar cell production reached a consolidated figure of 2,204 MW in 2006, up from 1,656 MW a year earlier.

Japanese cell manufacturers lost ground to new Chinese companies over the past 12 months, according to the report, dropping from 46% to 39% share.

Polysilicon production rose 16% in 2006, but the authors forecast that polysilicon supply issues will still constrain cell production in 2007.

"While there have been supply-side constraints recently, high capital investment throughout the PV chain over the past twelve months is positioning the industry for strong growth," said Craig Stevens, President of Solarbuzz. "PV companies have raised over $4 billion in equity and debt since January 2006 to support that expansion."

The 250 page report concludes with three forecast scenarios, "Balanced Energy," "Green World" and "Production Led," which anticipate worldwide PV industry revenue growth paths ranging from $10.6 billion in 2006 through to between $18.6 and $31.5 billion in 2011.

The Marketbuzz 2007 report includes an analysis of the supply/demand balance through the PV industry business chain in 2006, this year's survey of solar PV installers, and a detailed review of price movements in the major world markets.

The report costs $3,950.

Solarbuzz LLC is a leading solar energy consultancy, headquartered in San Francisco, California.