San Francisco, California (PRWEB) August 27, 2014
The global installed capacity for solar PV is expected to reach 489.8 GW by 2020, according to a new study by Grand View Research, Inc. Growing push for sustainability has led to increased focus on renewable energy forms such as solar PV. In addition, favorable regulatory policies such as Feed in Tariff (FIT) is expected to further increase installed capacity, particularly along the Sunbelt countries. The reduction in price of PV modules is expected to lower the cost of energy generated by solar PV to USD 0.07 – USD 0.16, making it competitive to oil or gas fired peak power plants.
Countries with large PV potential such as Brazil, Chile and Saudi Arabia have not expanded as expected and this is expected to hamper the development of the market over the next six years. Aggressive capacity addition, particularly in China is expected to make the market oversupplied resulting in further lowering of prices. Product differentiation and innovation is extremely crucial with companies diversifying in both upstream and downstream markets, with expansion in project development and building strategic partnership. There are widespread opportunities in the form of new emerging markets and the link between reduced prices and unlocking of new markets is expected to be the key to market development.
The report “Solar PV Industry Trends and Market Segment Forecasts to 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/solar-pv-industry.
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Further Key findings from the study suggest:
For the purpose of this study, Grand View Research has segmented the global solar PV market on the basis of end use and region:
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Solar PV End Use Outlook,
Solar PV Regional Outlook,
Rest of the World
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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