According to the recent report from the European Photovoltaic Industry Association, the global solar photovoltaic electricity market saw its installed capacity rise above 22 gigawatts in 2009, gaining 7.2 gigawatts last year alone.
The report goes on to predict that global installed photovoltaic capacity will grow by at least 40 percent in 2010, while the annual growth is expected to exceed 15 percent. Along with using solar panels, some homes are equipped with solar water heaters or even wind turbines or geothermal energy setups.
Geographically, the report sees strong demand for solar energy in most regions of the world, with Europe leading the way but with Japan and the U.S. also increasing their representation in the marketplace.
The up-front costs of solar energy have been falling in recent years due to factors like lower material prices, more efficient technology, and government clean energy incentives. Looking ahead, an improving economy may be just the thing that inspires even more people to consider making solar energy upgrades to their homes.
