Shayle Kann, of the market research firm GTM Research, said that from now to 2035, global solar power investment is expected to reach $ 2.8 trillion.
Even with a lot of investment, Kann estimates that solar energy can only provide 17% of global energy, up from now 2%. For solar companies, the growth curve may have just begun.
How to get $ 2.8 trillion in opportunities
Kann said that by 2035, global solar power will account for 17%, which is a fairly reasonable assumption, taking into account the existing cost-effectiveness. If this happens, the solar industry's annual sales will grow from about $ 87 billion in 2016 to $ 250 billion in 2035, resulting in a total installed of 3,000 GW of solar power systems at a cost of $ 2.8 trillion.
In 2016, SunPower deployed 1.3 GW of solar energy, the first solar energy production of 3.1 giva solar energy, while Artes Solar produced 5.2 GW. This is the world's three largest manufacturers, and at the current level of production, will take 313 years to deploy 3000 GW of solar energy system.
In terms of capital and quantity, this is a huge growth opportunity for companies that can account for a large share of the solar market.
Utilities can play a bigger role
Another interesting alternative to Kann's introduction is where the money from the industry comes from. With the solar project built, they need to be a way to finance, so that investors can make money, which is not easy for solar developers. In the United States, utilities are taking solar energy as a growing choice.
Public utility units around the United States are deploying the Solar Integrated Resources Program (IRP). Dominion increased its solar IRP from 949 megawatts in 2016 to 4.1 GW in 2017 and will be completed by 2031. By 2042, the company's deployment will increase to 5.5 GW.
In view of the fact that the growth rate of these companies' solar power generation plans and the relatively low energy sources, installed capacity is also increasing. If utilities can build solar energy based on their customers' assets, they will lock in profits from the growing solar program.
The growth of solar energy has just begun
Whether the manufacturers, developers or utilities point of view of the solar industry, industry opportunities are huge, even if not reached GTM Research forecast 2.8 trillion US dollars of investment.