Yesterday, rapidly growing photovoltaic module supplier, Worldwide Energy & Manufacturing USA, Inc., announced that the continued shift towards solar energy alternatives has the company anticipating higher demand for its PV modules.
iSuppli Corporation, a provider of market intelligence services, estimates that global PV installations will grow at a CAGR of 63.7% from 2009 to reach 19.3 GW by 2011. Additionally, Pike Research, a market research and consulting firm that provides in-depth analysis of global clean technology markets, noted several key factors that could cause a “remarkable increase” in solar demand over the next three years, including: largely untapped U.S. solar market that it expects will increase substantially in 2011; a wider array of countries that are contributing to solar demand, most notably Italy, France, the United Kingdom, and Canada; anticipated grid parity that may be reached by more than 50% of the world’s regions by 2013 and significantly improved project financing ability. Worldwide Energy feels poised to take advantage of these changes and is looking forward to the results it could bring.
“Demand for clean solar energy and PV modules is increasing around the world as government incentives spur solar usage going into 2011 and beyond,” commented Jimmy Wang, CEO of Worldwide Energy & Manufacturing USA, Inc. “There is a very strong market for our products in Europe as additional countries increase their demand for PV energy. We achieved strong revenue growth in our Solar Division during third quarter based on international demand for our AmeriSolar modules, and our solar backlog currently stands at a record $106 million. We are excited by the outlook for our industry and anticipate that demand for renewable energy from solar will climb in a wider number of countries and offer even more opportunities for growth.”