New solar power generation may double next year, recovering from low capacity utilization caused by the global financial crisis, as China and the U.S. increase demand for clean energy, a fund manager said.
Asian ventures led by Suntech Power Holdings Co., Trina Solar Ltd. and Canadian Solar Inc. may benefit as 10 gigawatts of electricity produced from the sun is added in 2010, from an estimated 6 gigawatts this year, said Thiemo Lang, portfolio manager at the 230 million euros ($324 million) SAM Smart Energy Fund.
“The market may not grow in capacity this year because of the negative effects of the financial crisis,” Lang said in an interview by telephone from Zurich. “Next year looks much better because we see two new regions in U.S. and China.”
New investments in clean energy may surge to $450 billion in 2012 from $150 billion in 2007 as the U.S. and Europe step up efforts to reduce emissions, Nomura Securities said. China may boost solar capacity to 10 gigawatts by 2020, enough to supply about 10 million U.S. homes, from 1.8 gigawatts now, according to the Chinese Renewable Energy Industries Association.
Suntech, the world’s largest maker of solar-power modules, and Trina Solar are among Asian companies that may gain as lower production costs give them “distinctive” advantages over manufacturers in Europe and the U.S., Lang said. Both are based in Jiangsu province in eastern China.
via Solar Power Generation Capacity May Double in 2010 (Correct) – Bloomberg.com.
July 21, 2009
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