SMALL & OFFGRID SOLAR TO QUADRUPLE TO $2.4BIL

Solar Photovoltaic Consumer Products; Pico Solar, Solar Home Systems, and Solar PV Generators and Kits: Global Market Analysis and Forecasts

2Q 2014 (Navigant Research)

“The market for solar photovoltaic (PV) consumer products has expanded significantly in recent years across a variety of industries, geographies, and applications. Off-grid solar lighting for base of the pyramid (BOP) markets, the leading solar PV consumer product segment, is transitioning from a humanitarian aspiration to big business…[With] increased political pressure to eliminate the use of kerosene as a light source, solar PV module price reductions, efficient LED lighting advances, and the success of social enterprise business models…competitive products, and innovative financing mechanisms [have emerged]…Pay-as-you-go (PAYG) services are gaining acceptance for both pico solar and solar home systems and have the potential to further accelerate industry growth…Navigant Research forecasts that the global annual market for solar PV consumer products will grow from $550.5 million in 2014 to $2.4 billion in 2024…” click here for more

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