Solar firms seek fresh pastures as Spanish construction bonanza ends

THE GLOBAL solar energy market has had a tough year. The lack of funding in a difficult economic climate has been exacerbated by the collapse of demand from the Spanish market following the imposition of much less generous feed-in tariffs (PE 9/08). Spain had been the world's leading market, accounting for nearly half of the 5.5 gigawatt (GW) global increase in photovoltaic (PV) solar capacity in 2008, according to the European Photovoltaic Industry Association. But market oversupply caused by over-generous subsidies resulted in a government reappraisal of feed-in tariffs, which it cut by more than 25% in 2009. It also imposed a 500 megawatt (MW) cap on new builds this year. Consequently, co