Fact #2 is that today’s PV boon is artificially driven by feed in tariffs, tax incentives, politics, unlike “real” market boons such as high brightness LED lighting. It is ironic that the 25th European Photovoltaic Solar Energy Conference (EUPVSEC) is being held in Spain, which just recently renounced FiTs after accruing billions of euros of debt (too much subsidized PV was brought on-line too quickly).
Fact #2 is of little long term significance, however, since billions of dollars (and euros) are being spent to advance PV technology, ultimately bringing about grid parity. This creates a real market for PV and eliminates CO2 emissions, thereby saving the world.
Fact #3 is that China is dominating the photovoltaics manufacturing business. Companies in China are able to manufacture photovoltaics more cost effectively than anywhere in the world, and by all accounts are also implementing new technologies very quickly and effectively. Never mind that their costs are low because they are able to feed energy-hungry manufacturing operations with cheap CO2-belching coal-fired power plants. Surely the CO2 reductions in Europe made possible by PV more than offset the increase in CO2 from China!? No? Well, I said never mind.