Annual Revenue from Global Sales of Advanced Solar PV Modules is Expected to Reach $38 Billion in 2025, According to Navigant Research
A new report from Navigant Research examines leading countries for the deployment of next-generation solar photovoltaic (PV) technologies, offering an analysis of the global market for advanced solar modules, with forecasts for installed capacity and revenue, through 2025.
Following a surge in the production of solar PV modules between 2012 and 2015, margins increased for top manufacturers and tightened the supply-demand balance for the coming years. Across the industry, this supply-demand rebalance is giving manufacturers the opportunity to escape, at least temporarily, from a commoditized PV module market. Click to tweet: According to a new report from @NavigantRSRCH, annual revenue from global sales of advanced solar PV modules is expected to grow from more than $3 billion in 2016 to $38 billion in 2025.
“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,” says 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.”
Long term, niche technologies of today are expected to evolve and take over most of the solar market, according to the report. The availability of passivated emitter rear cell (PERC) and n-type modules, as well as microinverters and direct current (DC) optimizers (along with other technologies like bifacial modules), are anticipated to create specialized products to serve a variety of applications.
The report, Next-Generation Solar PV, provides participants involved in the energy marketplace with an examination of the leading countries for the deployment of next-generation solar PV technologies. The study offers an analysis of the global market for advanced solar modules, including p-type PERC modules, n-type modules, and MLPE. Global market forecasts for installed capacity and revenue, segmented by region and technology, extend through 2025. The report also examines the key innovations related to advanced solar PV modules and module-level power electronics (MLPE), as well as the competitive landscape.