Solar Pv Market Analysis and Segment Forecasts to 2020

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Solar PV Market Share, Size, Industry Profile, Market Prize,
Forecast and Overview 2015

Global Solar PV Market Expected to Reach 489.8 GW by 2020
February 2014
San Francisco, February 5, 2014 - The global installed capacity for solar PV is expected to reach 489.8
GW by 2020. Growing push for sustainability has led to increased focus on renewable energy forms such
as solar PV. In addition, favorable regulatory policies such as Feed in Tariff (FIT) is expected to further
increase installed capacity, particularly along the Sunbelt countries. The reduction in price of PV
modules is expected to lower the cost of energy generated by solar PV to USD 0.07 - USD 0.16, making it
competitive to oil or gas fired peak power plants.
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Further key findings from the study suggest:
Utility scale solar PV was the largest end use segment for the solar PV market and accounted for over
45% of the global installed capacity. This segment is also expected to witness fastest growth on account
of the growing need for power coupled with competitive prices offered by solar PV modules for power
generation.

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The use of solar PV for non residential application is also expected to show significant growth over the
next six years with major Sunbelt countries looking to harness the potential of solar energy and employ
it as a substitute to conventional forms of energy. The segment is expected to grow at a CAGR of over
20% from 2013 to 2020.
Europe had the largest installed base of solar PV in 2012 primarily due to installations in countries such
as Germany, Italy, Spain and France. The total installed capacity for Europe exceeded 70 GW as of 2012.
However, the region is expected to lose share owing to the...