Photovoltaics Headed for Record Global Revenue in 2016
Global revenue from solar photovoltaic cells will hit a record $41.9 billion in 2016, according to energy analysts IHS.
“2015 growth—which will see PV module shipments grow by 29% year-over-year in the fourth quarter, reaching 18.7 GW—will continue into 2016, when IHS predicts global shipments to grow by 10%, with global PV module revenue hitting a record $41.9 billion,” CleanTechnica reports.
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“Compared to prior years, this period of strong growth in solar installation demand, coupled with tight supply, will support relatively robust pricing,” said IHS Technology Senior Principal Analyst Edurne Zoco. “This year and next year will mark a climax in the recovery of the solar PV sector, after a period of intense price reductions and margin