31 May '13, 12pm

Global solar sector to reach $155 billion in 2018

The global solar PV market is ready to arise from the ashes of the 2011 crisis and grow to $155 billion in 2018 says independent research and advisory firm Lux Research in its report Market Size Update 2013: Return to Equilibrium . The company believes that market forces will engineer a turnaround in the sector producing a healthy 10.5 percent compound annual growth rate (CAGR) reaching 35GW in 2013 and subsequently soaring to 61.7GW in 2018. “Manufacturers’ nightmare is turning into a long-term boon for the industry” said Ed Cahill, Lux Research Associate and lead author of the report. “Record low prices pushed gross margins to near zero or below, but they’ve made solar installations competitive in more markets. Supply and demand will come back into balance in 2015, easing price pressure, returning manufacturers to profitability and restoring the industry to equilibrium.”...

Full article: http://www.renewableenergymagazine.com/article/global-sol...

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