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Navigant Research, a U.
S.
-based market research firm, said in a new report that the world will add about 1,955 GW of solar photovoltaic (PV) capacity
from this year to 2028.
According to the report, the global solar PV market will continue to be dominated by the Chinese and US markets, but the contribution of emerging markets to the solar PV market will further increase
.
The Asia-Pacific region, in particular, will expand
at a faster pace.
It is expected that by 2019, the Asia-Pacific region is expected to add 79.
4 GW of solar PV installed capacity, accounting for 63%
of the global total.
As the solar PV market grows, so does the need for transparency and grid stability, which has led to new regulations
.
Navigant Research said the changes, along with reduced costs, will help stimulate the market with more than $2 trillion in investment over the
next decade.
Pritil Gunjan, Senior Research Analyst at Navigant Research, commented: "Regulatory and legislative structures are evolving from structures that encourage widespread deployment of solar energy to more nuanced mechanisms and business models to control and guide solar growth
.
”
The new capacity added between 2019 and 2028 is expected to generate approximately $2.
04 billion in revenue
for the solar industry.
Navigant Research, a U.
S.
-based market research firm, said in a new report that the world will add about 1,955 GW of solar photovoltaic (PV) capacity
from this year to 2028.
According to the report, the global solar PV market will continue to be dominated by the Chinese and US markets, but the contribution of emerging markets to the solar PV market will further increase
.
The Asia-Pacific region, in particular, will expand
at a faster pace.
It is expected that by 2019, the Asia-Pacific region is expected to add 79.
4 GW of solar PV installed capacity, accounting for 63%
of the global total.
As the solar PV market grows, so does the need for transparency and grid stability, which has led to new regulations
.
Navigant Research said the changes, along with reduced costs, will help stimulate the market with more than $2 trillion in investment over the
next decade.
Pritil Gunjan, Senior Research Analyst at Navigant Research, commented: "Regulatory and legislative structures are evolving from structures that encourage widespread deployment of solar energy to more nuanced mechanisms and business models to control and guide solar growth
.
”
The new capacity added between 2019 and 2028 is expected to generate approximately $2.
04 billion in revenue
for the solar industry.
