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Solar & Alternative Energy

Report predicts PV market growth to slow for two years

A new report on the solar energy industry from NextGen Research says the photovoltaic market will suffer from the current global financial meltdown for at least two years before experiencing markedly higher growth starting in 2011. The report says global demand for photovoltaic installations will slow from its previously robust compound annual growth rate of 35%, and will see growth averaging about 24% per year through 2013.

As concerns about climate change and energy independence continue to grow, governments will implement incentive frameworks (subsidies) to promote the adoption of solar energy as a means of shifting electrical power generation away from fossil fuels, according to the report.

More on the NextGen Research report from Business Wire