SAN JOSE, Calif. — Ongoing shortages of polysilicon is expected to restrict the growth rates in the worldwide solar photovoltaic (PV) market to just 10 percent in 2006, according to Solarbuzz LLC.

Still, world solar PV market installations reached a record high of 1,460 megawatts (MW) in 2005, representing annual growth of 34 percent, according to Solarbuzz LLC (San Francisco), a solar energy consultancy.

Germany's PV market grew 53 percent to 837 MW in 2005, corresponding to 57 percent of the world market. This level is eight times the size of the United States market, according to the firm.

Solar cell production reached a consolidated figure of 1,656 MW in 2005, up from 1,146 MW in 2004. Japanese producers maintained their leadership with 46 percent share, while Europe accounted for 28 percent, according to Solarbuzz. U.S. cell production was at 156 MW in 2005.

"Cumulative installed solar PV electricity generating capacity expanded by 39 percent in 2005 and now exceeds 5 Gigawatts worldwide and investment in new plant to manufacture solar cells exceeded $1 billion in 2005," said Craig Stevens, president of Solarbuzz, in a statement. "Meanwhile, the PV industry raised more than $1.8 billion on capital markets over the past 12 months."

Solarbuzz market demand forecast scenarios show worldwide industry revenues will reach $18.6-to-$23.1 billion with annual PV installations between 3.2-to-3.9 Gigawatts in 2010.

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