The global market for solar PV is facing a strong growth momentum due to reduced production costs and technological advances in the industry. Governments and other agencies around the world to promote the use of solar energy through various financial incentives. The year 2015 should see continued growth, emerging markets and changes in production processes.
These are some of the major projected global trends for 2015:
More organizations will present to provide solar power residential loans in the US
It is expected that next year more companies in the US offer solar home loans that can replace leases. We also expect the government to reduce interest loan guarantee to support less than 5% and widespread adoption of solar installations. Also support the additional costs incurred due to non-technological tasks during the installation process.
Prices of solar utilities decreasing because of cost effective approaches by manufacturers
With the arrival of big players in the field of manufacturing of PV, it is expected that new players and existing approaches adopt more profitable through the business chain. This coupled with technological innovations profitable approach cause a steady decline in the price of solar energy utilities for residential and commercial use.
The solar manufacturing market is maturing.
In 2015, solar utility companies should be more standardized and slow the pace of product differentiation. Strong competition between manufacturers will arise downstream demand high impact of distributed generation.
The United States will see an overall increase in residential and commercial solar installations, especially in secondary markets
While California and Hawaii in the United States showed the largest percentage increase in the penetration of solar energy in recent years, it is also expected that second tier markets such as Florida and Louisiana to oversee.
California is expected to show high growth penetration of solar energy
California is already the largest market for renewable energy in the United States. Approximately 10 percent of total energy production in California comes from solar sources. This percentage is expected to increase in the coming years and California exceed their international counterparts by a significant margin.
Finally, if a number of government subsidies for solar installations have expired, private sector finances financial innovation should boost market of solar systems in the coming years.