Global solar photovoltaic (PV) markets will finally begin to stabilize in 2013, according to Navigant Research’s Solar PV Market Forecasts, and will reach grid parity by 2020 as demand reorients toward both developing countries and maturing markets.Market activity is expected to mainly shift from Europe toward Asia and the United States, even though it recently passed 10GW installed solar. Additional opportunity also exists in developing economies like Chile, South Africa, and Saudi Arabia, and if Navigant’s forecasts hold true worldwide revenue from solar PV installations will pass $134 billion by 2020.
Solar PV to Hit Grid Parity, $134 Billion Annual Revenue by 2020
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