Solar energy demand expected to triple in next four years

Dec. 27 -- Demand for solar energy products is projected to triple by 2010, according to research from The Freedonia Group Inc.

The Cleveland-based industry market research firm estimates that demand for photovoltaic modules will hit 531 megawatts by 2010, three times the demand posted in 2005. The value of the market will reach $1.3 billion in 2010, up from $526 million in 2005, according to Freedonia´s Solar Energy Products study.

Tax incentives and rebates as well as consumer interest in renewable energy will drive the gains. Freedonia also cautioned that scaling back the incentives would negatively impact solar power demand.