The US solar market had its biggest
year ever in 2016, nearly doubling its previous record and adding more electric generating capacity than any other source of energy for the first time ever. Over the next five years, the
cumulative US solar market is expected to nearly triple in size, even as a slight dip is expected in 2017. The global solar energy market was valued at $86 billion in 2015, and is projected to reach $422 billion by 2022, growing at
Annual Growth Rate (CAGR) of 24.2% from 2016 to
2022. The growth of the solar energy market is driven by increase in environmental pollution and provision of government incentives &
tax rebates to install solar panels.
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