World solar power doubled in 2010, mostly in Europe

The world added about 16 gigawatts of new solar photovoltaic (PV) power in 2010, double the growth seen a year earlier, according to the European Photovoltaic Industry Association. The global increase compared with 7.2 GW of new capacity in 2009, confounding a financial crisis and reflecting sharp falls in solar panel prices and generous subsidies, especially in Germany and Italy.

The added capacity in 2010 brought cumulative, global solar PV power to nearly 40 GW, up 70 percent from nearly 23 GW in 2009.

Europe dominated new solar power installations last year, at about 13 gigawatts (GW), with Germany and ITaly accounting for nearly 7 GW and about 3 GW respectively.

Outside Europe, the biggest markets were Japan (about 1 GW), United States (0.8 GW) and China (0.4 GW).

Solar panel prices have halved since 2007, say analysts, at about $1.8 per watt at the end of 2010 compared with $3.7 three years earlier.

The fortunes of the solar market contrasted with wind, which last year shrank for the first time in two decades as a result of a difficult market for project finance as well as uncertain regulatory support.