EUROPE SOLAR MARKET

Since the late 1990s, the European Union has been working towards a target of renewable energy sources providing 12 per cent. of gross domestic energy consumption by 2010. In 2006, Germany accounted for 56 per cent. of the global PV market and as illustrated in the table below, dominates the European market. Following Germany, the European countries with the most sizeable solar programmes are Spain and Italy. As can be seen from the above graph, it is the ‘rest of Europe’ which is showing the greatest growth in terms of share of the global PV market, due in particular to the growth of the PV market in Spain and Italy. The Group has therefore targeted Spain and Italy as a particular focus for future efforts.

According to Solarbuzz Annual Report 2008, Germany's PV market reached 1,328 MW in 2007 and now accounts for 47% of the world market. Spain soared by over 480% to 640 MW.