Nov. 22, 2011: Market for Distributed Solar PV Systems to Top $150 Billion by 2015
“Consumer and commercial demand for distributed solar systems is growing as the cost of PV modules has continued its steady descent,” said senior analyst Peter Asmus. “Combined with innovative financing and leasing options, third-party and utility ownership models, and highly-effective feed-in-tariff programs, solar PV is expanding faster than most expected.”
Asmus added that demand for such systems is concentrated in regions with favorable financial incentives, including the United States (led by California) and Canada (led by Ontario). Pike Research’s analysis indicates that Europe will continue to be the largest market for distributed solar PV over the next several years, but China and India’s growing economies and high percentages of population without access to reliable electricity represent large market opportunities.
“Today’s solar PV market is all about cost,” said Asmus, “which is good for consumers and installers, but brutal for manufacturers. We expect that costs will continue their rapid decline as Chinese crystalline silicon manufacturers gain market share and efficiency continues to increase for thin-film technologies.”
Publication date: 11/21/2011