According to the Earth Policy Institute, photovoltaic (PV) production increased to 3,800 megawatts in 2007 for a 50 percent jump. The solar growth trend, however, is not new. Rather, the PV industry has been doubling every two years since 2002, and experts foresee the end of 2008 with a global solar production rate of 12,400 megawatts. This makes solar the fastest growing energy source, above that of wind, ethanol, tidal, and other alternative or conventional energy sources on the market.Here are some related facts on PV from the Earth Policy Institute:

• While the most common material currently used is amorphous silicon, the newest technologies use non-silicon-based materials such as cadmium telluride. A key force driving the advancement of thin-film technologies is a polysilicon shortage that began in April 2004.
• Led by the United States, thin film grew from 4 percent of the market in 2003 to 7 percent in 2006. Polysilicon supply is expected to match demand by 2010, but not before thin film grabs 20 percent of the market.
• The top five PV-producing countries are Japan, China, Germany, Taiwan, and the United States.
• Initial estimates for the United States as a whole indicate that PV incentives, including a tax credit of up to $2,000 available under the U.S. Energy Policy Act of 2005 to offset PV system costs, helped to achieve an incredible 83-percent growth in installations in 2007.
• Spain tripled its PV installations in 2006 to 70 megawatts.
• The average price for a PV module, excluding installation and other system costs, has dropped from almost $100 per watt in 1975 to less than $4 per watt at the end of 2006.

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