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Solar PV additions reached a record high of 7 GW. Germany was the top market, with 3.8 GW added, or more than half the global market. Other large markets were Italy, Japan, the United States, Czech Republic, and Belgium. Spain, the world leader in 2008, saw installations plunge to a low level in 2009 after a policy cap was exceeded. Many countries saw record biomass use. Notable was Sweden, where biomass accounted for a larger share of energy supply than oil for the first time. Bio-fuels production contributed the energy equivalent of 5 % of world gasoline output. Almost all renewable energy industries experienced manufacturing growth in 2009, despite the continuing global economic crisis, although many capital expansion plans were scaled back or postponed. Impaired access to equity markets, difficulty in obtaining finance, and industry consolidations negatively affected almost all companies. Nearly 11 GW of solar PV was produced, a 50 % increase over 2008. First Solar (USA) became the first firm ever to produce over 1 GW in a single year. Major crystalline module price declines took place, by 50–60 % by some estimates, from highs of $3.50 per watt in 2008 to lows approaching $2 per watt. Wind power received more than 60 % of utility-scale Renewables investment in 2009 (excluding small projects), due mostly to rapid expansion in China. Investment totals in utility-scale solar PV declined relative to 2008, partly an artifact of large drops in the costs of solar PV. However, this decline was offset by record investment in small- scale (rooftop) solar PV projects. Investment in new bio-fuels plants declined from 2008 rates, as corn ethanol production capacity was not fully utilized in the United States and several firms went bankrupt. The Brazilian sugar ethanol industry likewise faced economic troubles, with no growth despite ongoing expansion plans. Europe faced similar softening in bio-diesel, with low production capacity utilization. "Green stimulus" efforts since late-2008 by many of the world's major economies totalled close to $200 billion, although most stimulus was slow to start and less than 10 % of green stimulus funds was spent during 2009. By 2009, over 85 countries had some type of policy target, up from 45 countries in 2005. Many national targe ts are for shares of electricity production, typically 5–30 percent, but range as high as 90 percent. Other targets are for shares of total primary or final energy supply (typically 10– 20 percent), specific installed capacities of various technologies, or total amounts of energy production from Renewables. Most recent targets aim for 2020 and beyond. Many targets also exist at the state, provincial, and local levels. At least 83 countries have some type of policy to promote renewable power generation. The most common policy is the feed-in tariff, which has been enacted in many new countries and regions in recent years. By early 2010, at least 50 countries and 25 states/provinces had feed-in tariffs, more than half of these adopted only since 2005. Strong momentum for feed-in tariffs continues around the world as countries continue to establish or revise policies. States and provinces have been adopting feed-in tariffs in increasing numbers as well. 16PDF Image | Economic Perspectives of Renewable Energy Systems
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