15 Mar '12, 9am

Solar, Wind and Biofuel: A $246B Market in 2011

Solar, Wind and Biofuel: A $246B Market in 2011

The global market for solar photovoltaics increased from $71.2 billion in 2010 to $91.6 billion in 2011. While total market revenues were up 29 percent, installations grew more than 69 percent from 15.6 gigawatts in 2010 to more than 26 GW worldwide last year due to rapidly declining solar costs. Last year’s global wind power installations equaled 41.6 GW, the largest year for global installations on record. Wind power totaled a record $71.5 billion in 2011, up 18 percent from $60.5 billion the prior year, and is projected to reach $116.3 billion in 2021. Biofuels reached a record $83 billion in 2011, up from $56.4 billion the prior year. The increase was mostly due to a rise in ethanol and biodiesel prices, the result of higher costs for feedstock commodities. The Clean Edge report projected that the cost to install solar PV systems will fall from an average of $3.47 per ...

Full article: http://www.triplepundit.com/2012/03/solar-wind-biofuel-24...

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