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The annual revenue from the global sales of advances solar PV modules is expected to reach $38 billion in 2025, according to a new report from clean-tech research company, Navigant Research.

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Advanced Solar PV Module Revenue Set To Reach $38 Billion In 2025, Says Navigant

The annual revenue from the global sales of advances solar PV modules is expected to reach $38 billion in 2025, according to a new report from clean-tech research company, Navigant Research.

The annual revenue from the global sales of advances solar PV modules is expected to reach $38 billion in 2025, according to a new report from clean-tech research company, Navigant Research.

Released this week, Next-Generation Solar PV is the latest report from Navigant Research, which investigates high efficiency solar PV modules. The report found that while the manufacturing capacity for solar PV modules remained steady at around 70 GW between 2012 to 2015, actual production of same doubled from 32 GW to 60 GW, subsequently increasing the margins of the top module manufactures and tightening the supply-and-demand balance. Navigant therefore suggests that there is a momentary opportunity for manufacturers to “escape, at least temporarily, from a commoditized PV module market.”

Of particular interest from the report was the suggestion that, as solar PV module manufacturers expand their capacity, they are also looking for new ways and new technologies to differentiate themselves from the competition — leading in some cases to the introduction of high-efficiency module technologies. Included in these ‘high-efficiency’ technologies are P-type passivated emitter rear cell (referred to as p-type PERC or simply PERC) modules and direct current (DC) optimizers, both of which Navigant believes “are well suited to take over where price competition is fierce and the installation value chain is already efficient.”

The report further identifies the expected annual revenue from global sales of advanced solar PV modules will grow from more than $3 billion in 2016 to a whopping $38 billion in 2025.

Annual Next-Generation Solar Revenue by Technology, World Markets: 2015-2025

navigant-29

“Deploying new technologies across the advanced solar PV market is necessary to achieve grid parity in more parts of the world and a reduction in the cost of solar,” explained Roberto Rodriguez Labastida, senior research analyst with Navigant Research. “For manufacturers, and for the industry as a whole, it is important that this reduction happens without pushing key players into negative margins.”

Navigant forecasts 191.1 GW of PERC modules will be deployed between 2016 and 2025, generating a total of $71.5 billion in revenue. N-type deployments are expected to follow PERC modules closely, with an estimated 159.8 GW installed over the same period, with revenue of $61.5 billion.

 
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