07 Sep '11, 10am

Worldwide Market for Solar PV Cells to More than Double by 2020

Worldwide Market for Solar PV Cells to More than Double by 2020

The global market for solar photovoltaic (PV) cells will more than double by 2020, according to South Korea’s Samsung SDI , rising from 2010′s $30 billion to $70 billion. Falling prices and supportive government policies will drive the growth, Reuters reported early Wednesday. Overcapacity will continue to challenge solar cell manufacturers and the solar power industry out to 2013, however, particularly as Chinese solar PV cell manufacturers continue with aggressive overseas expansion plans, executive vice president of Samsung SDI’s solar energy division Choi Chang-sik told Reuters’ reporters Ju-min Park and Cho Mee-young. The solar PV industry is beginning to undergo a weeding-out and consolidation process, as evidenced by the bankruptcy of Solyndra and scaling back of manufacturing by others, such as SolarWorld shutting down production at its factory in Camarillo, Califo...

Full article: http://cleantechnica.com/2011/09/07/worldwide-market-for-...

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