How will the credit crisis affect the solar industry?

With economic downturn, one might think that funding for research and market viability of renewable energy would diminish, yet the PV industry is still predicted to boom. Business at ETM has certainly blossomed recently--more people are becoming aware of the connection between fossil fuels and global warming. Or perhaps people see the need to invest in alternative energy because coal and oil are at their last drops, and that foreign wars and predicaments are all too often involving the securing of petroleum. All of these are good reasons-- the seed of the green energy economy has been planted.
According to David D. Martin of the SEMI PV group, "venture capital investment in green energy technologies exceeded $2.8 billion in the third quarter of 2008, far exceeding any previous quarter on record" (renewablenergyworld.com). Luckily, many other global leaders like China, India, Korea, and the United Arab Emirates are developing incentive plans for massive solar generation. While we are in an econmic crisis, Marin argues, the solar industry is still in the beginning phases of its development, which is good: "Nevertheless, long-term fundamentals will make the PV market attractive to a wide variety of players for the next few years..." With more investment and attention to solar energy, costs of production will go down, and regular people like us can enjoy cheaper PV systems on our residences, all the while promoting the integrity of the planet.

source: Martin, David D. "Speculation on Solar Future Hits Overdrive" Renewable Energy World Magazine. 18 June 2009.