BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the global market for distributed and non-distributed solar photovoltaics (PV), providing forecasts broken out by country, region, and segment, through 2027.
New markets for solar PV are opening around the world as installation prices fall and best practices are developed for project financing. Additionally, as industry transformation takes hold across the energy landscape, regulatory and legislative structures are evolving to more nuanced mechanisms that enable solar growth to be controlled and directed. Click to tweet: According to a new report from @NavigantRSRCH, an estimated 1,507.6 GW of solar PV is expected to be installed between 2018 and 2027, generating $259.3 billion in revenue for the industry globally.
“2018 was another banner year for solar PV, with more than 98 GW of new solar PV installed worldwide,” says Johnathon de Villier, research analyst with Navigant Research. “Solar auctions are becoming a key driver of installations, helped by consistently falling costs, which also open up new markets for solar.”
During the next 10 years, the solar market is expected to continue to experience strong growth, led by China and North America, according to the report. Yet, emerging markets—including India and Latin America—are already diversifying the playing field.
The report, Market Data: Solar PV Global Forecasts, provides a forecast of installed capacity, system prices, and revenue for the global solar PV market. The study covers both the distributed solar PV and non-distributed solar PV markets and highlights emerging business models that will shape future market developments. Global market forecasts, broken out by country, region, and segment, extend through 2027. The report also examines key legislative and regulatory trends that affect the solar PV industry and influence its future growth. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Solar PV Global Forecasts, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.