Solar power growth

When it comes to solar power, Canada has some splainin’ to do.

According to the Worldwatch Institute, 2008 saw the greatest growth ever in the solar power market, but Canada is lagging.

96 per cent of the world’s solar power is generated in Europe, the U.S., Japan, and South Korea.  Canada fits into the “rest of the world” category, sharing the remaining 4 per cent. While Canada has made strides in solar, this is still striking.

So what’s going on here?  Consider Europe, which accounts for 81 per cent.  In Spain – the country with the world’s highest demand for solar power – the government requires utilities to buy solar power, at recently lowered long-term fixed rates.

In Germany – currently second-highest, but spent years in the top spot – various attempts are being made to reduce solar costs, eventually down to par with conventional methods. By comparison, in Canada funding is lacking, incentives are few, and cost is high.

While 2008 was a year of unprecedented growth, the opposite is likely to be true for 2009. Due to the economic crunch, many energy companies that previously showed an interest in growing with the solar sector are reducing their involvement, or have pulled out entirely.

However, this may just represent a great opportunity for the Canadian solar industry to catch up.