First Time in History that Solar Installations (36.5 GW) Greater than Wind Power Installations (35.5 GW)
Clean Edge predicting that solar PV will experience double-digit growth yearly and that by 2023 revenue growth in the PV industry will be $158.4 billion despite installed prices will continue to fall. The figure shows the projected gains in energy.
The Clean Edge report predicts an installed PV system price as low at $1.21 per watt by 2023. (maybe sooner) Clean Edge believes that in 2014 we will start to see “enlightened utilities begin to embrace distributed generation assets.” As rooftop solar continues its steady march towards adoption, utilities will continue to grapple with how to maintain healthy businesses in the face of declining electricity sales. “Some forward-looking utilities, if not fully embracing a distributed energy future, are making investments, forming partnerships, and acknowledging that the threat of DG might also be a business opportunity,” the report states. Clean Edge points to some examples of this that took place in 2013, such as Edison International’s purchase of SoCore Energy, a Chicago-based rooftop solar developer that does work in the commercial space. It also uses Duke Energy’s investment in Clean Power Finance as another example of utilities starting to think about profiting from distributed PV.
The full report can be found here.