Global solar PV installations to rake in $134bn by 2020

Global solar PV installations revenue Navigant Research Solar PV Market Forecasts Europe US Asia Pacific

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.

Read more solar energy news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...