The global solar market will climb from 15.8 GW in 2010 to 37.5 GW in 2016 for $65.4 billion, a compound annual growth rate of 15.5%. This is lower than the industry’s past history of 30%+ annual growth rates and speaks to its maturity and move away from subsidies as a driver of growth. However, steep system price declines through 2012 outpace volume increases, and the industry actually shrinks on a revenue basis from $64.4 billion in 2010 to $56.9 billion in 2012 before recovering to $65.4 billion in 2016 and continuing to rise as more geographies reach grid parity.
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