PV power engineering has become a meaningful sector of the world economy•Annual commissioning ofPVP capacities has reached 47 GW which in monetary terms is equivalent to over $80 bln.
Drivers of the industry growth•Cost reduction:
This resulted in reaching price parity between the energy generated by PVP andgrid energy across regions with high insolation. With further cost reduction, the geography ofPVP’s efficient usewill go beyond the boundaries ofthoseregions, e.g. to USA and Europe.•Accessibility:The Sun is an inexhaustible and universally accessible source of energy.
•The government support ofsolar market: Along with environmental motives for providing support, PVP is the only availablealternativetomanystatestoimporting fossil energy resources giventhe fact that thesolar power isavailableeverywhere.
Byrd, S. et al. 2014, “Solar Power & Energy Storage”, Morgan Stanley
Fisher, M., Gerlach, A. 2014, “State-of-the-art c-Si cell manufacturing: Trends in materials, processes and products identified in the 5th edition of the ITRPV roadmap”, Photovoltaics International
Masson, G.et al. 2014, “Global Market Outlook for Photovoltaics 2014-2018”, EPIA