- Category: PV
09 Aug 2012
- Published on Thursday, 09 August 2012 11:25
- Hits (2195)
Posting revenues at a record $93 billion in 2011 and having 56 percent more installations, Europe remains the leader in the photovoltaic industry, accounting for more than 63 percent of total worldwide installations according to a report from the European Photonics Industry Consortium.
Revenues grew that year by 13.4 percent from 2010, while installations grew by 56 percent, with the most installations coming from Germany with 27 percent.
A total of 41 gigawatts of Europe’s electrical generation capacity from all sources were installed in 2011, but is less than the installed capacity a year before, at 57.6 gigawatts. The decrease is due in part to the economic recession in the region that year, the report suggested.
Nevertheless, more photovoltaic generating power was installed in Europe than any other energy source for the first time last year, surpassing both natural gas and wind turbine generation – a total of 17.3 gigawatts of new solar outpaced natural gas installations by 58 percent.
In terms of production though, 7.6 percent more wattage of photovoltaic cells was manufactured than generating capacity installed, with 27.4 gigawatts compared to 29.5 gigawatts.
However, production by European companies declined sharply in 2011 to less that 6 percent of the global total due to the dominating manufacturers in Asia – where China and Taiwan alone already account for 74 percent of the world’s supply. In addition, other European countries also manufacture some of their products in Asia, lowering the actual amount of manufacturing activity in Europe. – EcoSeed Staff