Proof that the Solar Industry is on the Brink of a Huge Expansion

Proof that the Solar Industry is on the Brink of a Huge Expansion

by cp@oilprice.com (Climate Progress)

A new report from the prominent global consulting firm McKinsey shows why solar photovoltaics have hit a tipping point.As the economics of solar PV continue to improve steadily and dramatically, McKinsey analysts conclude that the total “economic potential” of solar PV deployment could reach 600-1,000 gigawatts (1 million megawatts) by 2020.In the year 2000, the global demand for solar PV was 170 megawatts.That doesn’t mean 1 million megawatts will get developed by 2020; it’s just an estimate of the economic competitiveness…Read more...