'Smart' solar market to grow to $15 billion by 2018

Share

Information Technology, communication, monitoring and load management systems are all areas which are seeing strong growth, in regards to solar systems, market analysts MarketsandMarkets have found in their latest report. These solutions, along with RFID, automation, metering, intelligrid and analytics are all experiencing high demand, driven by advancements in technology.

The sector represents, "a tremendous market opportunity" writes MarketsandMarkets, in a statement announcing its latest report.

So called "smart" solar is set to grow at a Compound Annual Growth Rate (CAGR) of 18.7% out to 2018, reaching a market value of $15.34 billion.

Both established companies and startups are active in the market, with some of the major players including GE Energy, Siemens, Schneider Electric, Echelon, Itron and SunPower. Many of these companies are well known to solar industry participants.

Intelligent solar solutions are serving various "verticals" such as utilities, government, healthcare, construction, education and logistics and distributions, writes MarketsandMarkets.