PV capacity worldwide will increase from 93 gigawatts in 2012 to 446 gigawatts in 2020. The markets that will make the greatest growth will be China, India and North America, according to the report “Annual Global Power and Energy Outlook,” the consulting firm Frost & Sullivan . Even Europe will double its PV capacity in 2020, despite a steady decline of the incentives and the financial crisis. The company also believes that investment in renewable energy will continue apace, and that oil will continue to see reduced its market share in the production of electricity, despite the recent drop in prices. According to the report, the oil allows to cover currently about 5 percent of the total production of electricity. Investments in 2020 will be directed mainly to renewables and natural gas at the expense of fossil fuels and nuclear power.
Source: © PHOTON