The Bloomberg New Energy Finance news, information, and analysis services (the "Services") are owned and distributed locally by Bloomberg Finance L.P. ("BFLP") and its subsidiaries in all jurisdictions other than Argentina, Bermuda, China, India, Japan and Korea (the "BLP Countries"). BFLP is a wholly-owned subsidiary of Bloomberg L.P. ("BLP"). BLP provides BFLP with all global marketing and operational support and service for the Services and distributes the Services either directly or through a non-BFLP subsidiary in the BLP Countries.
Solar Market Seen Exceeding $134 Billion by 2020, Navigant Says
July 10 (Bloomberg) — Developers will spend more than $134 billion annually by 2020 on solar-energy systems, up 51 percent from this year, as falling panel prices make electricity produced from sunlight cost-competitive with power from other sources, according to a report from Navigant Consulting Inc.
Growing demand for photovoltaic systems in emerging markets including Chile, South Africa and Saudi Arabia will be bolstered in other regions by increased use of both large, utility-scale power plants and smaller, distributed generation systems, the Chicago-based company said in an e-mailed statement today.
“By the end of 2020, solar PV is expected to be cost-competitive with retail electricity prices, without subsidies, in a significant portion of the world,” Dexter Gauntlett, a Navigant analyst, said in the statement.
The company expects a total of 438 gigawatts of solar capacity to be installed from this year through 2020.
By 2017, the year after some U.S. tax incentives are cut, solar power will achieve grid parity “in most major markets,” according to the report.
To contact the reporter on this story: Justin Doom in New York at email@example.com
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org