Following years of oversupply and unsustainable, often artificially low module pricing, 2013 is expected to be the year the global solar photovoltaic (PV) market begins to stabilize, suggests the “Solar PV Market Forecasts,” a new report available from Navigant Research.

Electrical Construction & Maintenance magazine reported on July 15 that market activity is shifting from Europe to Asia Pacific and the United States, as these markets reach maturity and solar PV approaches grid parity in a growing number of regions. Considerable opportunity also exists in emerging markets, led by Chile, South Africa, and Saudi Arabia. According to Navigant Research, annual worldwide revenues from solar PV installations will surpass $134 billion by 2020.

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