The global installed capacity for solar PV is expected to reach 489.8 GW by 2020, according to a new study by Grand View Research, Inc. Growing push for sustainability has led to increased focus on renewable energy forms such as solar PV. In addition, favorable regulatory policies such as Feed in Tariff (FIT) is expected to further increase installed capacity, particularly along the Sunbelt countries. The reduction in price of PV modules is expected to lower the cost of energy generated by solar PV to USD 0.07 – USD 0.16, making it competitive to oil or gas fired peak power plants.
http://www.grandviewresearch.com/industry-analysis/solar-pv-industry
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