Published on August 1st, 2013 | by Nicholas Brown0
Distributed Solar Power Generation To Reach $112 Billion In Annual Revenue By 2018 (Report)
August 1st, 2013 by Nicholas Brown
The revenue earned from distributed solar power sales is expected to hit $112 billion annually by 2018, according to a new report from cleantech market research firm Navigant Research.
“It is a great time for consumers and end users to purchase or lease distributed solar PV systems, as prices continue to fall in the midst of fierce competition and continued consolidation,” says Dexter Gauntlett, research analyst with Navigant Research. “Paradoxically, the impending slowdown in government-funded initiatives will actually benefit the market, as governments retool their FITs to place greater emphasis on onsite generation, opening the door to new business models and creating opportunities for the entire distributed solar value chain.”
As the solar industry has matured, a “solar shakeout” has occurred and the industry has learned how to deal with financial growing pains while also gaining experience in manufacturing and in marketing solar products. Young industries start out very weak and generally go through a period in which many firms compete to the death before the industry reaches a strong and stable level. This has been the case with the solar industry as well, but now the solar industry is really taking off!
Drive an electric car? Complete one of our short surveys for our next electric car report.
Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.