BNEF solar power increasing

Published on February 9th, 2012 | by Zachary Shahan

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Solar Power Capacity Increased 54% in 2011

February 9th, 2012 by  

 
solar power increasing

Reaching about 28 gigawatts (GW), solar power capacity increased about 54% in 2011, according to a report by Bloomberg New Energy Finance (BNEF). Germany and Italy led the way.

“Photovoltaic installations rose to between 26.5 and 29.4 gigawatts last year, compared with 18.2 gigawatts during 2010,” Marc Roca of Bloomberg wrote.

“The year was on the high side of even bullish estimates,” Jenny Chase of London-based BNEF wrote. “We think 2012 will be about flat, as European markets have overshot targets and spending caps and plan to rein back severely.”

Of course, a tremendous drop in solar panel prices combined with strong solar power policies in a handful of European countries led the surge.

“New spending on solar energy jumped 36 percent to $136.6 billion in 2011, outpacing the $74.9 billion put into wind power, and represented almost half of all renewable energy investment worldwide” in 2011.

No one expects 2012 to be such a good year, but who knows what’s actually in store? India is in the midst of a strong cleantech (especially solar) surge, as are several other Asian countries. And, despite policy uncertainty in the U.S., innovative companies are propelling the technology onto more roofs while utility-scale projects are also on the way.

Source: Bloomberg
Solar panels via shutterstock 
 
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is tryin' to help society help itself (and other species) one letter at a time. He spends most of his time here on CleanTechnica as its director and chief editor. Otherwise, he's probably enthusiastically fulfilling his duties as the director/editor of EV Obsession, Gas2, Solar Love, Planetsave, or Bikocity; or as president of Important Media. Zach is recognized globally as a solar energy, electric car, energy storage, and wind energy expert. If you would like him to speak at a related conference or event, connect with him via social media: ZacharyShahan.com, .



  • Pingback: Australian Tindo Solar panels aim to take on Chinese giants()

  • I remember everyone said that 2011 will be quite a flat year because of lesser demand.

    Well, it turned out pretty much the opposite, although it is true that this year was probably fuelled by the drastic cuts at panel prices.

    Producers probably cannot cut prices in 2012 like in 2011 because they are already at the thin line of profitability (Chinese producers are in fact accused of dumping)

    Naturally, if new or improved technologies make their way into production, that may lower prices .

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