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Published on May 7th, 2015 | by Joshua S Hill

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GTM Estimates PV Services Market To Reach $803 Million By 2020

May 7th, 2015 by  


The results from a new report from GTM Research and SoliChamba Consulting conclude that the US market for distributed PV services, such as asset management and operations & management, is set to reach $803 million by 2020, thanks to the continued growth in the US solar PV industry.

“A wide range of competitors” are entering the PV services market, which encompasses asset management, “the ongoing financial, commercial, and administrative tasks related to a PV installation,” and operations and maintenance (O&M), which includes “the array of technical activities that enable PV systems to produce energy efficiently and within regulatory guidelines.”

These predictions are in line with a similar report published by the same duo in October of last year, which identified that the global solar PV O&M market for all types of installations would exceed 230 GW by 2018, due to a number of manufacturer warranty and service agreements running out.

The US distributed PV services market reached 8.5 GW in 2014, according to GTM and SoliChamba, and was valued at $154 million.

US DG O&M and Asset Management, Dollars per Year, 2014E-2020E

GTM-16

The report, US Distributed PV O&M and Asset Management: Services, Markets and Competitors, predicts that these figures will “grow significantly,” reaching $803 million by 2020. Specifically, though the non-residential segment of the distributed PV services industry is currently the largest segment, the report’s authors believe that by the end of 2020 the residential segment will make up 70% of the total market value of the distributed PV services market.

Subsequently, the spread of companies involved in some aspect of the PV services industry continues to grow, competing across a wide variety of fields. The report’s authors note that this growth will see “new entrants beyond pure-play installers and financiers … include developers, independent power providers, and inverter manufacturers, depending on market segment in some cases.”

Residential PV O&M and Asset Management Landscape

GTM-18

Non-Residential PV O&M and Asset Management Landscape

GTM-17 
 





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I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.



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