European Solar Capacity Grew in 2011 Despite Subsidy Cuts

Installed solar capacity continued to grow across Europe in 2011 despite a decline in subsidies for green energy continent-wide, according to a new report. Roughly 18.5 gigawatts of new solar photovoltaic energy capacity were installed in the European Union during 2011, about two-thirds of the world’s increase in PV capacity, according to the Joint Research Center of the European Commission. The EU’s overall PV capacity increased to 52 gigawatts, supplying about 2 percent of the continent’s electricity needs, according to the report. Although European companies remain world leaders in the development and production of photovoltaic technology, the report projects that they will suffer in future years in the face of increased competition, particularly from Chinese companies. And while Europe remained the leading region worldwide in terms of renewable energy investment last year, the rate of investment grew faster in Asia, particularly in India, Japan, and Indonesia, the report said.