Nov. 28, 2013: Solar PV Installations Worldwide to Double by 2020
Solar PV Costs Have Steadily Declined and Further Cost Reductions Are Being Pursued
BOULDER, Colo. — Despite waning government support, the threat of international trade wars, and high-profile bankruptcies, the solar photovoltaic (PV) market continues to grow, according to a report from Navigant Research. The firm forecasts that annual installations of new solar PV capacity will more than double, in terms of capacity, by 2020, growing from 35.9 gigawatts (GW) in 2013 to 73.4 GW in 2020.
Solar PV costs have steadily declined and further cost reductions are being pursued. By the end of this decade, solar PV is expected to be cost competitive — even without subsidies — with retail electricity prices in a significant portion of the world.