Summary: According to a recent report from Navigant Research, global
revenue from solar PV installations is expected to total more than $1.2
trillion from 2015 to 2024.
Navigant Research has examined the market for solar PV, providing
forecasts for capacity and revenue, segmented by region and country, through
2024.
According to the
company, the global electric power industry is evolving into a model that
offers more diversity, both in terms of generation and in the ownership of
generation assets, and solar PV is one technology at the head of this change.
Following years of unsustainable pricing and oversupply, demand for solar PV
systems has finally caught up, with 2015 expected to be the year when the
global solar PV market shifts and starts to compete with other
technologies.
“Solar PV and renewable
energy generation as a whole is a policy-driven industry,” says Roberto
Rodriguez Labastida, senior research analyst with Navigant Research.
“Legislation and regulation regarding solar PV development are being driven by
increased concerns about the environment and greenhouse gas emissions, as well
as by a desire for greater energy independence and to spur job growth and
entrepreneurial opportunities in emerging parts of the economy.”
The company claims that
new business models, such as solar leases, green bonds, and yield cos, have
reduced the barriers around customer adoption of solar PV systems and increased
the potential for profits. The report suggests that these business model
innovations will continue to further drive the industry in the coming years
when incentives are scaled back in most major markets.
The report, Distributed Solar PV, provides solar PV capacity and revenue
forecasts through 2024, with a focus on distributed systems, broken down by
region and select country. Policy issues and market drivers are detailed for
each region, along with average prices over the forecast period. The report
also includes a detailed discussion of significant inflection points that will
help shape the solar PV market over the next several years, as well as profiles
of key industry players.
OriginalPost: REFocus
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