The global electric power industry is evolving into a model that offers more diversity, both in terms of generation and in the ownership of generation assets, and solar photovoltaic (PV) is one technology at the head of this change. Following years of unsustainable pricing and oversupply, demand for solar PV systems has finally caught up, with 2015 expected to be the year when the global solar PV market shifts and starts to compete with other technologies. According to a recent report from Navigant Research, global revenue from solar PV installations is expected to total more than US$1.2 trillion from 2015-2024.
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