The technology has seen major improvements in power efficiency in recent years and a drop in prices of 40% since 2005. By 2015, the cost of photovoltaic systems is expected to drop by a further 40% making it cost competitive in many parts of Europe.

The study estimates that global solar capacity could grow from 36 GW to nearly 180 GW by 2015, with European capacity increasing from 28 GW to just under 100 GW.

One country leading the charge is Spain, which according to Red Eléctrica generated nearly 3% of its total electricity from solar power in 2010. Spain has a total solar capacity, mainly photovoltaics, of 4000 MW.

Meanwhile, according to Gestore dei Servizi Energetici, Italy installed 1850 MW of solar photovoltaics in 2010, taking its total installed solar capacity to around 3000 MW. The country aims to reach 8000 GW by 2020.

One of the planned new installations will be a 24.2 MW solar power plant in the Lazio region, which is being developed by REC Systems, a business unit of REC, and constructed in conjunction with ABB.

Elsewhere in Europe, Greece’s Public Power Corporation is planning to issue a tender for a 200 MW photovoltaic solar development in western Macedonia, as well as a facility to produce the panels.

Meanwhile, Nur-MOH – a joint venture between Nur Energie and one of Greece’s largest companies, Motor Oil Hellas (MOH) – has been given the go ahead for a concentrated solar plant on the Greek island of Crete. The 38 MW facility will use BrightSource Energy’s technology.

In the US, solar developments are also pushing ahead with NRG Energy receiving a loan guarantee of $967 million from the Department of Energy for the 290 MW Agua Caliente Solar project in Yuma County, Arizona, which it acquired from FirstSolar last year. FirstSolar will still supply the thin solar panels to be used in the development.

Other recently announced developments include Western Massachusetts Electric Company’s 4.2 MW solar facility in Springfield; SOLON Corporation and Tucson Electric Power Company have completed a 1.6 MW solar power plant in Tuscon, Arizona; Duke Energy and Sun Edison, a subsidiary of MEMC Electronic Materials, are on the final stages of a 17.2 MW solar farm in Davidson County, North Carolina;

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