In 2017, the global solar market will experience a contraction — something that hasn’t happened in 16 years or more. According to GTM Research, global PV installations will shrink by 7 percent in 2017.
But don’t fear, Chicken Little, this is just a blip on the radar. Driven by falling system prices, new procurement methods like tendering and auctions, and emerging markets such as India and countries in Latin America, GTM Research forecasts a cumulative average growth rate of 8 percent over the next five years, resulting in a 109-gigawatt market by 2021.
Each quarter, GTM Research analysts put together a quarterly briefing that summarizes the most important findings from their research. We’ve highlighted their introduction below, but you can also download the executive summary from the briefing here.