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True value solar Blog

The growing Solar market

The solar market around the world has been growing significantly particularly over the past few years. One of which is China which has grew, not only in the manufacturing of solar products, but also in the adoption of solar in the domestic market. There is no doubt that the Chinese firms are highly competitive and are mostly able to beat competitors around the world in terms of low product costs at the same technological capacity, as well as the Chinese government’s support.

In this highly competitive market, a recent article in the West Australian has mentioned that the United States have regained its lead in the clean energy race, by investing $48 billion last year and producing 6.7 gigawatts of wind and 1 gigawatt of solar, allowing it to power 800,000 homes .

China had invested $45.5 billion in clean energy in 2011, just short of the United States, but it is still maintaining its global lead in wind energy investment and solar manufacturing. While Germany, which was ranked in second place dropped its investment by 5 per cent, ranking it third in 2011.

However, the global clean energy market has as a whole, grew to $263 billion by the end of 2011, making it a 6.5 per cent increase over the previous year. These exponential growths in recent years are a good indication of the potential of the clean energy market and the support that it will be receiving from the people and governments around the nations.

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