Navigant Consulting Inc. Post Report Findings; PV Market Going Strong

The annual Analysis of Worldwide PV Markets and Five‐Year Application Forecast 2008/2009 were just made public by Navigant Consulting Inc. The findings cover such things as an analysis of current market trends for Photovoltaic technologies and different products. The report is a global scale research study, including findings and trends from all over the world. Findings include mostly developed and industrialised countries such as North America, Latin America, Asia Pacific, Europe, Africa and the Middle East. 

“2009 is proving a challenging year for the photovoltaic industry, with its first decrease in overall demand volume in thirty‐five years,” said Paula Mints, associate director and principal analyst for Navigant Consulting’s PV Services Program. “We are also seeing significant module price decreases due to slower demand worldwide, which increases affordability of the technology, and may translate to more affordable system prices.”

Photovoltaic Service Program, the department of Navigant Consulting Inc. which conducted the research, reports that the grid application ranks among the largest and most rapidly growing of all solar markets, with 80% in shares of world wide volume back in 2004. Since 2004 those numbers have steadily increased with 82% in 2005, 86% in 2006, and 94% in 2008. These numbers show that the PV market is steadily on the rise and PV technology will be ever growing in demand. 

The report outlines specific analysis of investment models, applications of technology, and regional markets, among other things. The report clearly indicates that the photovoltaic solar panel market is rapidly taking off, as investors and consumers alike look to invest in alternative ways to achieve maximum energy.

Special thanks to renewableenergyworld.com for the above quote, for more information please view the article on their website.