Global PV O&M market to grow 54% in 2016

Nov 21, 2016 16:09 CET by Ivan Shumkov

November 21 – The global addressable market for megawatt-scale photovoltaic (PV) operations & maintenance (O&M) and asset management services will grow by about 54% year-on-year to 182 GW by the end of 2016, a new report shows.

Even though the pace of annual installations is seen to fall next year because of a contraction in China, the global market is expected to more than double to 439 GW by the end of 2021, according to GTM Research and SoliChamba Consulting’s latest report — “Global Megawatt Scale PV O&M and Asset Management 2016-2021”.

By 2021, China will have a 35% share of the global installed capacity, while the US and India will account for 20% and 13%, respectively.

Of the current addressable market, more than half has been deployed in the last two years. Moreover, just 5% of the total global capacity has been operating for more than five years.

According to the report, SOLV, a division of Swinerton Renewable Energy (SRE), is currently the largest O&M market vendor of those focused on one country, while First Solar (NASDAQ:FSLR) is the biggest player among those active across multiple markets. Cedric Brehaut, lead author of the report, said that no less than 20 owners globally (excluding China) own at least 500 MW net each.

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