New report finds global PV market reached over US$91 billion in 2011, installations up 69%

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According to the Clean Energy Trends 2012 report by Clean Edge, worldwide clean-energy markets expanded significantly in 2011, despite economic, political and pricing obstacles. Global revenue for solar PV, wind power and biofuels rose 31% to US$246.1 billion, over 2010’s US$188.1 billion. The expansion can be traced to double-digit growth rates for the wind and solar markets.

For the global PV market in particular, which includes modules, system components and installations, revenue reached US$91.6 billion, compared to US$71.2 billion in 2010. PV installations rose over 69% from 15.6GW in 2010 to more than 26GW in 2011. However, Clean Edge did note that despite its conclusion of an impressive climb for the solar market in 2011, the year will inevitably be forever sullied by Solyndra’s bankruptcy.

“Last year saw many in the clean-tech community caught off guard, as the industry became a modern-day whipping boy,” said Ron Pernick, Clean Edge co-founder and managing director. “The attacks, offered up in sound bite-sized nuggets delivered more for impact than accuracy, overlooked the fact that many clean-energy technologies are becoming increasingly cost-competitive, central to the expansion of energy markets in places like China, Japan, and Germany, and a critical hedge against more volatile forms of traditional energy.”

The full report can be downloaded for free here.

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