Solar power and solar cell
Solar cell is a semiconductor device, made from polysilicon, which generates
electricity by converting the photons from the sun. Solar power, the electricity
produced by solar cell, has received a lot of attention recently in the wake of growing
environmental concerns. Solar power is generated using the sun’s energy—it is clean,
renewable and environment friendly.
Based on a market survey done by the Photon International, the PV industry
worldwide produced 2,536MW of energy in 2006, implying 40% Y/Y growth. We
believe global solar cell production will continue to grow at 25% in the next 5-10
years due to strong support in the form of government subsidies. Extrapolation of the
government’s targets for solar installations indicates a CAGR of 28% from 2005 to
2010 (Figure 122). Currently, Germany, Japan and the US (mainly California) are the
key proponents of solar energy. New initiatives are starting to pick up in China,
Southern European countries and rest of the US.