Newest findings on global solar PV market released

Navigant Research forecasts the global solar PV industry to generate $259.3 billion in revenue between 2018 and 2027.

Key report findings:

  • Energy capacity is expected to reach 1,507.6GW during the forecast period.
  • China followed by North America is expected to maintain market domination, whilst emerging markets including India and Latin America will diversify the playing field
  • New markets will open owing to a continued decline in installation prices and development of best practices for project financing.
  • Regulatory and legislative structures will enable solar growth to be controlled and directed

Johnathon de Villier, a research analyst with Navigant Research, said: “2018 was another banner year for solar PV, with more than 98GW of new solar PV installed worldwide.

“Solar auctions are becoming a key driver of installations, helped by consistently falling costs, which also open up new markets for solar.”