As current technology is further improved, new technologies
become available and costs decline, solar electricity will become more accessible and will
help to satisfy the world's ever-increasing demand for energy. Sales of solar electric
systems have accelerated over the last few years. Current world sales are around USD 1
billion and for more than a decade, the annual growth rate has been around 14%. Current
projections indicate a rise in this rate to 22%, which, linked to an annual cost reduction
of 6%, could result in a global market worth USD 6 billion by 2010.
BP Amoco targets building a $ 1 billion solar business over the next decade
BP Amoco chief executive Sir John Browne said: "BP Amoco already has a strong track
record in solar, with leadership technology in key areas. This acquisition is another
significant step towards our target of building a $1 billion solar business over the next
decade. 6th April 1999