According to a an analysis by European solar industry association SolarPower Europe, global market demand for solar power is set to reach 100 gigawatts by the end of 2017. This stunning number represents a 30% growth compared to 2016.
Michael Schmela, Head of Market Intelligence at SolarPower Europe, stated that ‘It is good to see the growing deployment and political support for solar power, the most versatile and clean form of energy that is now also the lowest-cost for power generation in most countries of the world’.
SolarPower Europe’s analysis is supported by research from other solar organizations. In July, GTM Research predicted that global solar power demand would soon exceed 80 GW. Meanwhile, in September, EnergyTrend published an analysis which anticipates that China’s demand for solar energy will push total demand past 100 GW.
Rising Demand & Falling Prices
As demand for solar energy rises, more providers are entering the market, meaning greater competition and ultimately, lower costs for consumers. Furthermore, many governments offer tax and other financial incentives that incentivize the transition to clean energy.
If you are a resident of Maryland or other surrounding areas, call us at (410) 418-5650 to learn about government incentives available in your area.