Solar Electricity for 26 M Households in the Mediterranean by 2020

An announcement at the 2nd Photovoltaic Mediterranean Conference, which took place in Athens on April 19 and 20, stated that by 2020 photovoltaic (PV) electricity will be able to provide power to more than 26 million households in the Mediterranean, with simultaneous creation of hundreds thousands of new jobs.

In 2006, the European Photovoltaic Industry Association (EPIA), which sponsored the conference, estimates that PV energy supplied 400 gigawatt-hours (GWh) of electricity all over the Mediterranean, while it expects that in 2010 it will amount to five terawatt-hours (TWh) and 78 TWh in 2020. For the last five years, the photovoltaic sector has experienced annual growth of 40%. It is expected that this trend will continue until 2010. Between 2011 and 2016 the growth rate is expected to stabilize at 26% while from 2016 to 2020 growth should be at 19%. In 2007 the Global photovoltaic industry is expected to invest Euro 2.6 billion [US$3.5 billion] in new production capacities. EPIA estimates that investments until 2010 will raise to 14 billion in order to meet the increasing demand. In Greece, according to projections of the EPIA, solar power could provide electricity to half a million of households in Greece by 2020, provided of course that an adequate promotion towards the end-user market is actively put in place. The Greek law on Renewable Energy Sources sets the goal that in 2020, at least 700 MW will have been installed in Greece, while the EPIA anticipates that it could exceed by far 1200 MW.
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