California to More Than Double Solar Power in '09

Posted on September 16, 2009

California is on track to more than double its power generated by solar panel installations in 2009, going against a downward global trend, according to research released on Wednesday.

Research house iSuppli Corp also expects the Golden State's hot-streak to continue in 2010, when California's photovoltaic installations, in terms of megawatts of power generated, would increase another 68 percent, while solar panel installations around the world grow 54 percent.

The solar power industry has suffered in the credit crisis, which has dried up available financing for new projects and a dramatic fall in solar panel prices has cut into companies' profits.

This year, iSuppli expects panel installations to jump 120 percent in California, compared with a 27 percent global decline.

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