Technology and Service Solution Innovation Expected to Drive Future Market Growth
Solar photovoltaic (PV) is now the leading source of global power generation investment—in 2020, more dollars were invested in solar PV than coal, gas, and nuclear combined. The decade ahead promises more growth and continued investor opportunities. Frost & Sullivan forecasts a total of $2 billion to be invested over the decade, with half going to utility-scale projects and the rest going to commercial, industrial, and residential PV systems. More homes and businesses will be prosumers, relying on self-generation for most of their needs, enabled through energy storage systems. This will drive the growth of virtual power plants to aggregate these resources and maintain the integrity of the electricity grid. To shed light on changing market dynamics expected in the 2020s, our Energy team has developed an analysis to help understand what’s to come for the global solar PV market.
In the 2020s, growth is set to continue, but the market dynamics will change. This briefing will cover the following topics:
- Identify the hottest regional markets for solar PV investment.
- Highlight the expected growth of utility, commercial, and residential PV sectors.
- Showcase new technology innovations predicted to improve solution offerings and drive future growth.
- Discuss how the value chain will evolve as the consolidation and cross-sector partnerships drive further market development.
- Spotlight service propositions evolving to meet the needs of both aging assets and greenfield solar farms operating in harsh environmental conditions.
