- The Joint Research Centre of the European Union (JRC) released a research report on September 5, 2011, saying that the capacity of solar PV cells in 2010 was about 23.5 GW, doubled from 2009.
The 2011 Photovoltaic Industry Report describes the solar photovoltaic industry as "one of the fastest growing industries in the world". The growth rate has been between 40% and 80% since the Jubilee. The report also states that the photovoltaic industry has the fastest development in Asia.
The report shows that the PV industry has set off an investment boom in renewable energy. Europe still takes the lead in solar energy investment, with total investment of 94 billion dollars. The investment proportion of PV industry in Asia grows faster than that in Europe, and China dominates.
The report also pointed out that the PV market changed from limited supply to demand-oriented and overcapacity, resulting in the price of PV dropped by more than 50% in the past three years. Some start-ups or expanding companies are suffering from these headwinds, combined with the global economic situation, making it difficult to turn capital smoothly.g.
The EU Joint Research Center predicted that this situation would last for at least several years and put pressure on the price reduction of PV products. However, this adverse situation is only short-term, and it is expected that the PV industry will continue to develop in the long term.
