Navigant Research Report Finds Global Solar Installations between 2018 and 2027 Are Expected to Generate More Than $259 Billion in Revenue
October 23, 2018
Solar market expected to continue to experience strong growth, led
by China and North America
BOULDER, Colo.–(BUSINESS WIRE)–#Solar–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.
About Navigant
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.
Contacts
Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
lindsay.funicello.paul@navigant.com