Global PV demand continues to soar in 2010 and is currently projected to double over the rate of installations last year, according to research firm Solarbuzz, which projects 2010 market size to reach 15.2GW compared with a revised 7.5GW for 2009.

Specifically, the last three quarters of 2010 are expected to generate 12.7GW, driven by strong growth across Europe, but also in the US, Japan, China and a range of smaller start-up markets.

German market demand incorporates substantial volatility in quarterly performances during 2010. This takes into account the uncertainty of policy adjustments in Germany that are planned for July 2010 and also January 2011. A 2010 market size of 8GW in Germany is now in prospect, even taking into account of a drop-off in demand in the third quarter.

"Despite much uncertainty over policy outcomes, a challenging economic environment and inverter supply, the PV industry is once again demonstrating that consumers respond to supportive government policies," said Craig Stevens, president of Solarbuzz. "The growth in demand is a response to major cuts in price levels afforded by lower manufacturing costs. As a result, module and inverter supply is just barely keeping up with demand."

Preliminary data on global industry revenues shows a drop of 40% sequentially to just over US$12 billion in the first quarter, which was nearly four times the level of a year earlier.