Although the last few years have seen the solar PV market facing a significant challenge due to shortages and allocations of polysilicon, consulting company Frost & Sullivan believes that 2008 will bring a turnaround. According to the company's latest forecasts, the global solar photovoltaic market earned revenues of $6.49 billion in 2005, and should reach more than $16 billion by 2012 as polysilicon supply catches up with demand.

"The majority of the new quantities will be supplied to the market by top four producers that are expanding their existing production capacities. Since these companies are well-established in the industry and have accumulated many years of experience, they have quite a short ramp-up time for the new plants." --Alina Bakhareva, Renewable Energy Program Manager, Frost & Sullivan