|  Executive Summary
		 | 
		 4
		 | 
	
	
		|  Introduction
		 | 
		 4
		 | 
	
	
		|           Advantages of 
		Photovoltaics
		 | 
		 5
		 | 
	
	
		|           Advantages of 
		Solar Thermal Energy
		 | 
		 5
		 | 
	
	
		|  Year 2004 in Review
		 | 
		 5
		 | 
	
	
		|  Year 2005 in Review
		 | 
		 6
		 | 
	
	
		|  Industry Analysis
		 | 
		 7
		 | 
	
	
		|  Factors Affecting Demand
		 | 
		 8
		 | 
	
	
		|           Rising Power 
		Consumption in Europe
		 | 
		 8
		 | 
	
	
		|           Rising oil 
		consumption in Europe
		 | 
		 8
		 | 
	
	
		|           Decreasing 
		Dependence on Foreign Oil Sources
		 | 
		 8
		 | 
	
	
		|           Reducing 
		Greenhouse Gas Emissions
		 | 
		 9
		 | 
	
	
		|           Growing 
		Global Demand for Solar Energy
		 | 
		 9
		 | 
	
	
		|           Cost of Solar 
		Cells
		 | 
		 9
		 | 
	
	
		|           Solar Cell 
		Manufacturers Embark on Thin Film Technology
		 | 
		 10
		 | 
	
	
		|           
		Decentralizing Power Supply
		 | 
		 10
		 | 
	
	
		|           Growing 
		Support for Building Integrated Solar Thermal Systems
		 | 
		 10
		 | 
	
	
		|  Regulatory Environment
		 | 
		 11
		 | 
	
	
		|           Kyoto 
		Protocol
		 | 
		 11
		 | 
	
	
		|           The European 
		Renewables Directive
		 | 
		 11
		 | 
	
	
		|           Sustainable 
		Energy Europe 2005-2008 Campaign
		 | 
		 11
		 | 
	
	
		|           Financing 
		Renewable Energy Projects
		 | 
		 12
		 | 
	
	
		|           Feed-in 
		Tariff
		 | 
		 13
		 | 
	
	
		|           Green Energy 
		Certificate System in Europe
		 | 
		 13
		 | 
	
	
		|           Regulatory 
		Environment by Country
		 | 
		 14
		 | 
	
	
		|  Factors Affecting Supply
		 | 
		 22
		 | 
	
	
		|           Inconsistent 
		Federal Support
		 | 
		 22
		 | 
	
	
		|           Complete 
		Power Solution for Europe
		 | 
		 22
		 | 
	
	
		|           Mimicking 
		Photosynthesis for Producing Electricity and Fuels
		 | 
		 22
		 | 
	
	
		|           Growing 
		Investments in Solar Energy Sector
		 | 
		 23
		 | 
	
	
		|           Germany the 
		Largest Producer of Solar
		 | 
		 23
		 | 
	
	
		|           Growth 
		Potential in Europe
		 | 
		 24
		 | 
	
	
		|           Leading Solar 
		Cell Manufacturers in Europe
		 | 
		 24
		 | 
	
	
		|  Regional Market Perspective
		 | 
		 25
		 | 
	
	
		|           Germany
		 | 
		 25
		 | 
	
	
		|           Spain | 
		 25
		 | 
	
	
		|           France
		 | 
		 26
		 | 
	
	
		|           Italy | 
		 26
		 | 
	
	
		|           Austria
		 | 
		 27
		 | 
	
	
		|  Future Outlook
		 | 
		 27
		 |