Annual worldwide revenues from solar photovoltaic (PV) installations will surpass $134 billion by 2020, according to a report from Navigant Research. In addition, market activity is shifting from Europe to the U.S. and Asia Pacific as those markets reach maturity and PV approaches grid parity.
The report, Solar PV Market Forecasts, says several trends will shape the direction of the global PV markets, including lower system prices opening up new markets for distributed PV and utility-scale PV projects coming online. In addition, many countries have revamped financial incentives to prevent an overheated market. Many companies say when U.S. solar PV investment tax credits are reduced to 10 percent in 2017, the solar PV market will be able to stand on its own without financial incentives in most major markets.
The report provides installed capacity of solar PV projects and revenue forecasts through 2020 divided by projects less than 1 MW and those greater than 1 MW of capacity.
To purchase the full report, click here.
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