The solar photovoltaic (PV) industry is set for rapid growth over the next five years, with up to 100 gigawatts (GW) annual deployment being
targeted in 2018,according to the latest edition of NPD Solarbuzz Marketbuzz. This end-market growth is projected to increase annual PV
module revenues, which are forecast to reach $50 billion in 2018.
Despite being severely hampered by overcapacity and declining operating margins during 2012 and 2013, the PV industry still grew 34%
over this two-year period. Having grown to more than 37 GW of end market demand in 2013, the global solar PV industry is now set to hit
a new milestone, reaching a cumulative installed capacity level of 500 GW. This strong demand will also further stimulate revenues for
the industry's manufacturers, with PV module revenues of more than $200 billion available over the five-year period from 2014 to 2018.
“Solar PV module prices declined faster than the end market grew in 2012, leading to a dramatic decline in revenues,”said Michael Barker,
senior analyst at NPD Solarbuzz.“. Growth will exceed forecasted price declines, resulting strong rebound in module revenues.”
