Global solar PV revenue to plunge to USD 28.6bn in 2012 - survey
Oct 15, 2012 - Global revenues from solar photovoltaic (PV) cells and modules are expected to drop to USD 28.6 billion (EUR 22.1bn) this year from some USD 38.7 billion in 2011, a recent report by the Bharat Book Bureau showed.
However, the research firm estimated that total revenues would reach USD 78.1 billion by 2017 marking a five-year compound annual growth rate (CAGR) of 22.3%.
The leading market for PV products is Europe, which is expected to expand from some USD 16.7 billion this year to USD 35.1 billion in 2017, or at CAGR of 16.1%.
Bharat Book Bureau expects the Asian market to jump from some USD 8 billion in 2012 to USD 27 billion in 2017, equal to CAGR of 27.6%.