The future of the photovoltaic (PV) market will largely depend on the enforcement of existing or new support mechanisms by governments across the world.
New analysis from Frost & Sullivan (technicalinsights.frost.com), Energy Technology Regulations and Policy Trends for Energy Efficiency, finds that the global wind power market has experienced tremendous growth during the last three years and had grown at an average annual growth rate of 27.6 percent from 2005 to 2008 to reach 120,798 MW in 2008.
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"The EU Renewable Energy Directive 2009/28/EC requires 20 percent of energy to be generated from renewable sources by 2020, and sets each European country with a specific target," notes Technical Insights Research Analyst Elaine Chan. "In US, the Renewable Portfolio Standard (RPS) and other state programs have been critical in spearheading renewable energy development."
The economic recession that hit the world market from late 2008 until early 2010 had closed down many projects related to renewable energy and alternate energy. Stimulus plans across the globe were able to keep only some of them active, and this has been a major setback for the development of technologies pertaining to energy efficiency and green energy.
The conservative nature of participants in the energy industry has prevented them from adopting new technologies. They are hesitant to shift from the proven traditional technologies to the new green technologies.
Among the different countries in the world promoting green buildings, Germany has the best energy efficiency requirements for new buildings. Currently, 30 percent more efficiency has been achieved, and 30 percent more will be reached by 2012. Policies are aimed at promoting and supporting passive and other highly efficient new buildings with additional incentives.
"All developed countries have at least voluntary energy certification systems or plans to implement building energy certificates," says fellow Technical Insights Analyst Kumar Narasimhan. "The UK and Germany already have mandatory certification schemes in place in order to promote significant energy savings in buildings."
The smart grid segment has attracted substantial venture capital investment. While commercial deployment of smart grids could begin in 2011, consolidation in the smart grid sector can be expected in the next two years.
Energy Technology Regulations and Policy Trends for Energy Efficiency, a part of the Technical Insights subscription, provides a comprehensive overview of policies, regulations, and investments in clean energy and energy efficiency technologies. Further, this research service includes detailed technology analysis and industry trends evaluated following extensive interviews with market participants.
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