Solar Energy’s 33 Percent Annual Growth will Accelerate
Solar energy growth continues its strong growth. For the 30 years from 1979 to 2009, solar energy has grown 33 % CAGR (compound average growth rate). For this decade, over 40 percent is forecast. Although 2009 was hurt by a sever recession and difficulty in financing large projects, most additional power brought online in the United States, Europe, and much of Asia was renewables. 32 GW of solar power is installed globally; 7.2 GW was installed last year. I joined 2,500 conference attendees at Intersolar North America, that develop this progress report, especially about solar in the 100kWh to 20 MW hour category.