The Annual Installed Capacity of Global Distributed Solar PV is Expected to Exceed 429 GW by 2026, According to Navigant Research
Key emerging trends expected to shape the trajectory of distributed solar PV include price drops, changes in financial incentives, and emerging business models, report finds
BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research projects the installed capacity, system prices, and revenue for the global solar photovoltaic (PV) market, offering an analysis of key market trends and business models, through 2026.
As the global electric power industry continues to diversify, the adoption of solar PV is expected to increase rapidly during the next decade. Distributed solar PV in particular is expected to lead the transition to a more decentralized power system that enables opportunities for other distributed generation technologies as well. Click to tweet: According to a new report from @NavigantRSRCH, global distributed solar PV installed capacity is expected to reach 429.1 GW by 2026.
"In 2016, annual distributed solar PV capacity additions dropped slightly by 3 percent to 21.9 GW, accounting for 29 percent of the 74.8 GW total global solar installed capacity that year," says Roberto Rodriguez Labastida. "Navigant Research expects that this ratio will increase between 2017 and 2026, when 429 GW of distributed solar PV will be installed globally, producing $528 billion in revenue for the industry."
Key emerging trends expected to ultimately shape the trajectory of this market include price drops, changes in financial incentives, and emerging business models. China and the United States are expected to remain key markets, even though a geographic shift to other countries with high irradiation is underway. Additionally, India is expected to become a major market in the next few years as markets in Latin America and the Middle East begin to emerge.
The report, Market Data: Global Distributed Solar PV, provides a forecast of installed capacity, system prices, and revenue for the global solar PV market (distributed and non-distributed), with a focus on DSPV. The study also provides an analysis of the key market trends and regulatory mandates affecting the solar PV industry, as well as the emerging business models. Global solar PV market forecasts, broken out by region and segment (residential, commercial and industrial, and utility-scale), extend through 2026. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant's professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant's practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Global Distributed Solar PV, is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.