Seite - 105 - in Water, Energy, and Environment - A Primer

mounting systems, installation, and inverters that convert dc electricity to ac. Today, with reduced cell costs, balance of systemcosts are dominant and are anR&Dfocus. Asaresultof largepricedrops,andincreasingexperiencewith PV, the amount of PV installed has increased dramatically in recent years (seeFigure 8.5): According to the latest Global Solar Demand Monitor from GTM Research, new installations will reach 104 GW in 2018, representing 6% annual growth. Other industry monitors put this number even higher, and 2018 is the first time Figure 8.5 Global installed PV capacity (GW) (Source: Wood Mackenzie). Renewableenergy 105