Update on Photovoltaic Systems Market- Progress of Solar Energy Advantages Awareness

Despite challenges in the economy, the US photovoltaic (PV) market still showed promising growth. Due to the recent trend, other countries tend to be experiencing increased rate of growth. The world market growth was largely stimulated by improved government initiatives and incentives which resulted to the significant development of the demand for PV systems. This is a good indication that more and more people take solar energy advantages more seriously than in the past.

In the US, the enactment of Renewable Portfolio Standard (RPS) by thirty states contributes an important part in the marketplace progress. The RPS is a regulation which requires electricity supply companies to develop a specified fraction within their electricity from alternative energy sources such as geothermal, wind, biomass and solar. This method along with the federal Production Tax Credits (PTC) were viewed as significant stimulus to market PV systems and their growth, since this will likely spark competition and innovation which could lead to a decrease in sustainable energy costs. Similar programs are also adopted by Poland, Italy, Britain, Belgium, Chile and Sweden.

In Europe, Germany has always been the leading PV market followed by Italy, Czech Republic Belgium and France. Regardless of the decline in growth seen by most of these countries lately, still they were capable to regain the boom with improved government policies, subsidies and market incentives.

The increase of PV market in Japan had also been largely driven by new government policies. The reintroduction of the nationwide residential incentive program together with the launch of the country's own version of Feed-In Tariff (FIT) during 2009 have significantly spurred a boost in people's awareness on solar energy advantages.

In China, the expansion of the PV market size was stimulated as a good reaction of the increase in on-grid segment, building-mounted and ground-mounted systems backed by specific government initiatives.

Conversely, the off-grid rural segment constitutes India's largest PV market inspite of the challenges facing the government's incentive programs.

This global growth of PV's market size translates to the fact that with governments' support programs, funding and incentives together with the cooperation from the private sectors, more homes and industries will unquestionably experience solar energy advantages. The growth can be another very good sign that traditional power consumers' knowledge on these advantages is consistently growing. Along with further advancement of the PV technology, solar technology systems could eventually become a little more reasonable for average consumers.
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