DUBLIN, IRELAND: Research and Markets has announced the addition of GlobalData 's new report "Portugal Solar PV Equipment Market to Rebound in 2011" to its offering.
Portugal is one of the emerging hotspots for solar PV in the world. The Portuguese government has one of the most ambitious renewable energy targets in Europe in order to become energy self sufficient and achieve the objective of becoming a world leader in renewable energy.
However, suspension of a tariff scheme for solar PV in 2008 and the financial crisis has resulted in a temporary setback in the market and is expected to have a dampening effect on systems revenues in 2009. The market is currently driven only by a stand-alone micro-generation tariffs scheme, post the suspension of the independent power producer law.
Nevertheless, the government plans to come up with additional support mechanisms for solar PV after the general elections, by the end of 2009. This is expected to boost revenues in the solar equipment market, and the market is expected to rebound from the temporary slowdown in 2009.
The market for solar PV equipments estimated to be worth $333.03 million in 2008. The market is expected to grow from its present levels to $487.60 million by 2013.