About 67%-72% of global PV solar demand will come from Europe in 2011, a drop from 72%-77% in 2010, according to Credit Suisse outlook; Germany remains largest solar market, expected to install 5 GW this year
SOUTH SAN FRANCISCO, California
March 9, 2011
– Italy and Germany Expected to Account for Approximately Half of New Photovoltaic Installations in 2011, According to Credit Suisse
Worldwide Energy & Manufacturing USA, Inc. (OTCBB: WEMU) ("Worldwide" or the "Company"), a rapidly growing supplier of photovoltaic (PV) solar modules under the 'Amerisolar' brand, announced today that it anticipates robust demand for its photovoltaic (PV) modules this year in Europe tied to continued strong demand in the region.
Approximately 67-72% of the world's PV solar demand will come from Europe in 2011, compared to 72-77% in 2010, according to Credit Suisse's 2011 Solar Outlook. Germany remains the largest solar market, and is expected to account for 5 GW of PV installations for the year. Although several companies cite new geographies as key positives for solar demand evolution, demand is still concentrated highly in Germany and Italy in 2010 and in 2011, the report found. The Credit Suisse report said that it expects Germany and Italy will account for approximately 8.5 GW, or nearly 50% of the total 17.5 GW demand expected in 2011.
"Europe remains a tremendous market for our solar business, with Italy and Germany accounting for a significant share of our European sales," said Jimmy Wang, CEO of Worldwide. "Our shipment growth in these countries has grown considerably since 2008 and we expect the majority of our sales will continue to come from Europe in 2011. Going forward, we anticipate that Europe, as a whole, will continue to represent a strong market for our products as capacity is expected to increase sharply in the region in the coming years."
About Worldwide Energy & Manufacturing USA, Inc.
Worldwide Energy & Manufacturing USA, Inc., headquartered in South San Francisco, California with manufacturing facilities in China, is a rapidly growing manufacturer of photovoltaic (PV) solar modules under the 'Amerisolar' brand. Founded in 1993, the Company sells its products primarily to clients in Europe, North America and Asia. The Company also operates several subsidiaries in the People's Republic of China (PRC) that provide mechanical, electronic and fiber optic products manufacturing. For more information about Worldwide Energy & Manufacturing USA, please visit its website at http://www.wwmusa.com.