In the last few years, the PV Industry has experienced a strong growth, which is expected to continue. In 2007, the global cumulative installed capacity amounted to approx. 9 GWp. In an optimistic scenario, by the year 2012, a worldwide installed capacity of 44 GW could be achieved, which would be the same power generated by 44 nuclear reactors.  

Europe's share of the global cumulative installed capacity is around 50 %, which means that in Europe in 2007 around 4,5 GWp were available for the generation of photovoltaic electricity.

The most important markets in Europe are Germany (new installations in 2007: 1100 MWp) and Spain (300 MWp), followed by France, Italy and Austria.

Due to achievements concerning higher efficiencies and lower production costs, it is expected that PV will be competitive with peak power prices during the next decade: This grid-parity could be reached in southern Europe by 2015 and in most of the rest of Europe by 2020.

(Source: EPIA)

The PV industry has created more than 75.000 jobs in Europe in the last few years, with the following countries leading this trend:

• In Germany (the largest PV market worldwide), employment in the PV sector rose from 1.500 (1999) to over 40.000 (2007).
• In Spain, until 2007, more than 23.000 jobs were created.
• In Italy, until 2007, 1.700 jobs were created.
• In France over 2.100 people are today directly employed by the photovoltaic sector.

The European Photovoltaic Technology Platform estimates that the PV industry has the potential to create more than 200.000 jobs in the European Union by 2020 and ten times this number worldwide.