5 Solar Photovoltaic Energy Market, Global, 2001-20205.1 Solar Photovoltaic Energy Market, Global, Overview Solar photovoltaic energy is one fast-growing energy sources in the world. The need for energy security and stability is driving governments around the world to promote and develop renewable energy sources. The global solar photovoltaic market experienced strong growth in 2009 and 2010, with 24,600 MW of installed capacity commissioned during these two years, compared to 8,912 MW installed in 2007 and 2008. Cumulative installed capacity grew from 16,127 MW in 2008 to 40,727 MW in 2010. Europe is the leading solar photovoltaic market, with a share of 76% of the total cumulative installed capacity, followed by the Asia-Pacific region, with a share of 16.0% in 2010. The year 2011 is considered the year of transition. on the solar photovoltaic industry. Europe, the largest solar PV market, is expected to lose market share to new emerging markets such as Canada, India and China. India and China have announced ambitious PV targets and are seen as the next hotbeds for PV investment. It is expected that t...