Every analyst knows that solar PV is growing fast. However, the latest RNCOS report goes even further. The research firm predicts that solar panels will be able to produce as much as one tenth of our energy needs in less than three decades. Gone are the days in which solar power was a source of energy used on mobile phone antennas and satellites only.
According to RNCOS, the main reason for the solar PV growth is the expected drop in technology prices. Of course installed capacity will grow even further once grid parity (which means that solar power is competitive with fossil fuels in terms of cost) is achieved. This will basically mean that solar power users will save money by having their own solar facility on the roof, compared to the price paid for electricity from utilities from the grid.
The report also provides analysis on solar demand in the world and a detailed industry analysis.
