Photovoltaic Solar Power market reaches 27.7 GW in 2011

75% of the new global solar power capacity in European nations. This global market figures represent a mid-range of the estimates offered by market researchers. Among other observations, EPIA’s "Market Report 2011" notes that the number of national markets larger than 1 GW rose from three in 2010 to six in 2011.

"The PV industry is at a crossroads," said European Photovoltaic Industry Association President Ingmar Wilhelm. "Whilst European solar energy markets have always outpaced home production, this will presumably no longer be the case in the years to come."

"New solar power markets around the world will have to be opened up to drive PV development in the coming decade just as Europe accounted for it during the last decade."

Italy ranks as world’s largest PV market

These new solar power capacities bring the world to an estimated 67.4 GW of global PV capacity at the end of 2011.

Contrary to the findings of other researchers, the EPIA ranks Italy as the world’s largest market in 2011, followed by Germany, China, the United States, France and Japan, all of which installed more than 1 GW of new capacity.

European Photovoltaic Industry Association states that the diversification of the global PV market can be considered the single most important achievement in the PV industry, but that many of these markets have addressed only a small part of their potential.