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Despite challenges within the economic environment, the US photovoltaic (PV) market still showed promising growth. In accordance with the recent trend, other countries tend to be experiencing increased rate of growth. The global market growth was largely stimulated by improved government initiatives and incentives which resulted to the significant increase in the need for PV systems. This is an excellent indication that more people these days take solar energy advantages more seriously than before. In the States, the enactment of Renewable Portfolio Standard (RPS) by thirty states contributes a big part in the marketplace progress. The RPS serves as a regulation that requires electricity supply companies to create a specified fraction of their total electricity from renewable energy sources just like geothermal, wind, biomass and solar. This method combined with the federal Production Tax Credits (PTC) were viewed as significant stimulus to promote PV systems and their growth, since this will more than likely spark competition and innovation which could result to the reduction of renewable energy costs. Similar programs are also adopted by Poland, Italy, Britain, Belgium, Chile and Sweden. In Europe, Germany has always been the leading PV market and then Italy, Czech Republic Belgium and France. Despite the decline in growth experienced by a few of these countries recently, still they were able to regain the boom with improved government policies, subsidies and market incentives. The growth of PV market in Japan seemed to be largely driven by new government policies. The reintroduction of the nationwide residential incentive program plus the launch on the country's own version of Feed-In Tariff (FIT) during 2009 has significantly spurred rise in people's awareness on solar energy advantages. In China, the expansion of the PV market size was stimulated as an effective reaction of the increase in on-grid segment, building-mounted and ground-mounted systems backed by specific government initiatives. Conversely, the off-grid rural segment constitutes India's largest PV market notwithstanding problems facing the government's incentive programs. This global development of PV market size results in the truth that with governments' support programs, funding and incentives and with the cooperation of the private sectors, more homes and industries will certainly experience solar energy advantages. The growth is additionally a good sign that traditional power consumers' knowledge on these advantages is consistently growing. Together with further advancement of the PV technology, solar panel technology systems will ultimately become more cost-effective to average consumers. Find information on solar energy advantages, solar energy news, DIY solar panel, and the advantages of solar energy and power.
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