BP Solar announces 2004 profit

BP Solar has made great strides towards destroying the myth of the solar industry’s lack of economic viability by posting a profitable result for 2004, with revenues of over $US400 million ($A527 million).
BP Solar announces 2004 profit BP Solar announces 2004 profit BP Solar announces 2004 profit BP Solar announces 2004 profit BP Solar announces 2004 profit

BP Solar is one of the world’s largest solar power concerns, employing over 2,000 people in production facilities in the US, India, Australia and Spain and at project sites worldwide.

“Solar power has an immense growth potential for the future, due to technological progress and therefore greater efficiency in transforming the energy inherent to sunlight,” said BP Solar head Steve Westwell.

Although all combined renewable energy sources provide just 2.5% of global energy demand, Westwell points to the 40% industry growth and the 1,000 MW of power installed worldwide in 2004 as positive indicators for renewables as a whole and solar power in particular.

“Prices will fall as the market penetration increases, demand grows and targeted support is provided by marketing and legislation,” Westwell said.

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