Latest News

The Entu Enviroment

Sunpower: Solar Energy To Be $5 Trillion Industry Within 20 Years

Wednesday November 19th 2014

SunPower, one of the largest solar PV manufacturers in the world, predicts that the solar energy industry will become a $5 trillion dollar industry within 20 years, according to recent statements.

Head of SunPower, Tom Werner, announced the prediction at the company’s recent day-long annual briefing in San Jose, California. He also noted that the industry’s expected growth represents one of the best opportunities in the history of markets.

Commenting on this projected opportunity, Werner stated: “We’ve just scratched the surface of this opportunity. I’ve been doing this for eleven years, and I’ve realised we’re just beginning.”

Werner’s predictions are based mostly on a presumed big shift at household level, illustrated by the graphic below:

Table showing the growth of users and the $ Worth of deployed domestic and commercial solar panels

Over the next 20 years it is expected that home solar will grow to cover another 150 million homes, accounting for roughly 10% of total electricity supplied.