"According to The Earth Policy Institute production of photovoltaics (PV) jumped to 3,800 megawatts worldwide in 2007, up an estimated 50 percent over 2006. At the end of the year, according to preliminary data, cumulative global production stood at 12,400 megawatts, enough to power 2.4 million U.S. homes. Growing by an impressive average of 48 percent each year since 2002, PV production has been doubling every two years, making it the world’s fastest-growing energy source."
For most people and most businesses, energy conservation is more cost-effective for the time being. But this is still great news for the future. On the other hand, if all the coal plants slated for construction world-wide were actually built, the claim to "fastest growing" wouldn't hold up for long. We are at a nexus.
Fair disclosure: this writer has a very small portfolio of pure-play solar stocks. Wishing it were bigger!
Via::The Energy Blog, "FYI: Solar Cell Production Jumps 50 Percent in 2007"