Thursday July 23, 2015 0 comments
BOULDER -- Global annual revenue from solar photovoltaic (PV) installations is expected to surpass $151.6 billion in 2024, according to a new report from Navigant Research.
“The distributed solar PV generation market continues to transition from being dependent on lavish feed-in tariffs and environmentally conscious wealthy homeowners to a cost-effective source of electricity that is gaining traction across market segments and customer types,” said Roberto Labastida, Navigant senior research analyst.
“The successful adoption of new business models is expected to continue to further drive the industry in its transaction to a post-incentive world in most major markets.”
Over the next 10 years, the expanding solar industry is expected to offer a variety of growth opportunities to leading players across the value chain, intensifying competition as companies pursue international opportunities, the report said.
The report, “Distributed Solar PV,” provides PV capacity and revenue forecasts through 2024 with a focus on distributed systems broken down by region and country.
An executive summary of the report is available for free download on the Navigant Research website