Solar installations to generate $259 billion revenue

U.S. solar

Global solar industry will be installing 1,507.6 GW of solar PV between 2018 and 2027 – generating more than $259 billion in revenue, Navigant Research said.

New markets for solar PV are opening around the world as installation prices fall and best practices are developed for project financing.

“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. The report said solar auctions are becoming a driver of installations, helped by consistently falling costs.

During the next 10 years, the solar market is expected to experience strong growth, led by China and North America. Emerging markets — including India and Latin America — are already diversifying the playing field.