Global Solar Power Market, 2018 Update

Solar Photovoltaic (PV) Gains Momentum as a Globally Irreversible Mainstream Energy Source

This research report presents the Global Solar Power Market, with a specific focus on solar photovoltaic (PV). The study includes an in-depth analysis of the solar power market with a specific focus on eight regions-North America, Europe, Latin America, Asia-Pacific, China, India, Africa, and the Middle East. End-user groups are residential, commercial and industrial, and utility scale. Installed capacity and expected trends in end-user segments vary across regions. Application and technology are covered at a global perspective. This research service provides the description and analysis of the global solar power market at the top-level, as well as the regional market level.

Global solar PV continues on a period of exceptional growth; its annual installed capacity in 2017 was 101.6 GW, almost double the 51.4 GW installed in 2015. The pace of growth is forecast to slow significantly over the next few years, but growth post-2020 will see the market increase to 144.6 GW in 2025. The market is largely driven by cost reduction of solar modules. Economies of scale, technological advancement, and increasing automation in production are key forces behind the price reduction in solar modules. The global agenda for renewable and clean energy sources pave the way for the development of solar power. Technological advances in battery storage solutions integrated with solar PV systems provide residential and commercial/industrial end-users with the opportunity to reduce peak periods, by delivering their stored power on-demand.

The research methodology is a combination of primary and secondary research. Secondary research involves desk-based research. Primary research involves interaction with market participants and getting their perspective and feedback on our analysis.

Research Benefits:

This study will provide an in-depth analysis on the solar photovoltaic industry in terms of revenue and annual capacity additions; it will also discuss interesting trends and technologies driving solar market growth. These insights will aid clients in identifying growth opportunities, promising areas and right technology/solution to invest in, choose the addressable markets, and also develop innovative business models.

Key Issues Addressed:

• Is the global solar power market growing; how long will it continue to grow, and at what rate?
• Are the existing competitors structured correctly to meet customer needs?
• Will these companies, products, and applications continue to exist?
• What are the key drivers and restraints affecting the solar power market?
• Are the technologies offered today meeting customer needs or are additional development needed?
• How are the growth trends for solar power different in developed and developing markets?