The huge technical potential of solar energy which by far exceeds the global demand makes PV a major power source within the future global energy system. With EU and especially Germany paving the way, the last years have seen impressive growth in the global PV installation, exceeding 70 GW. Today it is expected that PV will continue to grow exponentially and contribute 2 to 5% of global power in 2020; The installed capacity of 27 GW PV in Germany already today exceed that of nuclear, coal or lignite while the annual Investment in PV is approx. 20 {EUR} bn. thus equaling the sum of total investment of the "big four" utilities; PV modules have experienced significant and continuous cost reductions at a learning rate of approx. 20% resulting in system capex being halved within 5 years to less than 2,000 {EUR}/kWp. Regarding cell technology only crystalline silicon cells and thin-film PV reach a significant market Share; A learning rate of 10 to 20% is expected to continue at least for the next decade. O&M costs are limited and account for averaged 1 to 3% of invest per year with an operational lifetime of PV systems of rather 30 than 20 years; In Germany average production is approx. 950 kWh/kWp whereas in southern Europe up to 1,500 kWh/kWp can be achieved due to higher solar irradiation; In many countries PV has already gained or will reach a significant share of power generation capacity, offering new opportunities.
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