Pico solar to fetch USD 64m in revenues in 2024

May 28, 2014 - Global sales of pico solar and photovoltaic (PV) home systems will expand to USD 64.3 million (EUR 47.2m) per year in 2024 from USD 8.2 million in 2014, Navigant Research said on Tuesday.

The growth in the segment will come as these products, which are used for lighting, mobile phone charging and small direct current (DC) appliances, gain more popularity in many industries. They become more widespread particularly in the outdoor recreation, emergency equipment, and off-grid lighting sectors, the market research firm explained in its Solar Photovoltaic Consumer Products report.

“Solar PV consumer products are rapidly moving from specialized niches for enthusiasts and early adopters into the mainstream,” said senior analyst Dexter Gauntlett.

Although most of the consumer product activity is currently concentrated in the developing world, similar products are now being used in the developed world, as well, in the form of solar PV generators and kits. This will position for growth a range of companies in the sector, Navigant noted.

(USD 1.0 = EUR 0.734)

Choose your newsletter by Renewables Now. Join for free!