Solar panels are becoming as attractive to investors as they are tohomeowners in light of recent data showing how much the industry hasbeen growing.
According to the recent report from the European Photovoltaic Industry Association, the global solarphotovoltaic electricity market saw its installed capacity rise above 22 gigawatts in 2009, gaining 7.2 gigawatts last year alone.
Thereport goes on to predict that global installed photovoltaic capacitywill grow by at least 40 percent in 2010, while the annual growth isexpected to exceed 15 percent. Along with using solar panels, some homes are equipped with solar water heaters or even wind turbines orgeothermal energy setups.
Geographically, the report sees strong demand for solar energy in most regions of the world, with Europeleading the way but with Japan and the U.S. also increasing theirrepresentation in the marketplace.
The up-front costs of solarenergy have been falling in recent years due to factors like lowermaterial prices, more efficient technology, and government clean energyincentives. Looking ahead, an improving economy may be just the thingthat inspires even more people to consider making solar energy upgradesto their homes.