Cheap energy solar panel market experiences growth - 13/07/2010
The market for cheap energy solar panels has experienced significant growth this year, new figures show.
According to a report released by IMS Research, global solar panel shipment in the second quarter of 2010 is up 92 per cent compared to a year ago, reports Daily Finance.
Solar panel manufacturers shipped 3.7 gigawatts of solar panels during the period, generating some $7.1 billion (£4.7 billion) in revenue. IMS predicts that 14.6 gigawatts of solar electricity capacity will be generated this year - almost double that of 2009.
The report found that some of the largest manufacturers meeting this surge in demand are Chinese firms such as Suntech Power, Trina Solar and Yingli Green Energy and US-based companies including First Solar and SunPower.
Sam Wilkinson, an analyst at IMS, said: "All the suppliers are producing near their maximum capacities, and they are expanding quickly this year."
Energy suppliers British Gas recently announced plans to give away solar panels to 750 schools across Britain to improve their sustainability.
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