Solar market revenues to double by 2020, says Frost & Sullivan
A new analysis by market research company, Frost & Sullivan entitled – Global Solar Power Market, estimates that Solar PV market will be worth $137.02 billion in 2020. Heightened awareness around curbing carbon emissions together with favourable legislation is driving rapid growth in the solar power market.
Sales volumes for PV are heavily concentrated in the Asia-Pacific region, with Africa, especially South Africa realising its burgeoning solar potential. PV is now able to compete with municipal distribution tariffs, and dismisses the argument that renewables are not able to serve a baseload function in the country.
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