Buy solar panels from Eurasia or oil from OPEC?

Solar/PV

Buy solar panels from Eurasia or oil from OPEC?

Solar energy panel sales were up 48 percent to 5.6GW, but the US needs a stimulus package to create jobs in the country

Thursday, March 19, 2009

NEW TRIPOLI, USA: Solar energy panel sales were up 48 percent to 5.6 GW, but we need a stimulus package to create jobs in the US, according to a report: Opportunities in The Solar Cell Market For Thin Film Technology, recently published by The Information Network.

Nevertheless, less than 14 percent of solar panel production, 750MW, was produced in the US. Europe produced more than 25 percent (1.5GW) and Asia 60 percent (3.3GW)

“While the use of renewable energy is lauded, what’s worse, buying solar panels from Europe and Asia or oil from OPEC,” asked Dr. Robert Castellano, President of The Information Network. “The Obama energy stimulus package must include ways to generate jobs here in the US. The alternative energy program in the US needs an Energy Czar to enable job production, and I volunteer my services.”

The solar energy industry is also in a flux:

* Capacity utilization (amount of solar panels produced versus capacity is below 50 percent.
* An oversupply of polysilicon is pushing prices of crystalline wafers below $5 which is impacting sales of much lower efficiency amorphous silicon panels.
* Macroeconomic issues will result in newly installed solar capacity will reach only 7.1 GWatts in 2009, equivalent to a global growth rate of 26 percent.

“The solar panel market is expected to pick up again in 2010, growing 48 percent to 10.5 GWatts of newly installed PV systems. The thin-film sector, which includes amorphous silicon, CdTe, and CIGS, will represent less than 20 percent of the market in 2010. Plagued by low efficiencies in the region of 7-12 percent, this sector will be compensated by low manufacturing costs,” added Dr. Castellano.

©CIOL Bureau