Engineering Procurement and Commissioning ( EPC ) Solar project
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Although it currently represents a small percentage of global power generation, installations of solar photovoltaic (PV) power plants are growing rapidly for both utility-scale and distributed power generation
Reductions in costs driven by technological advances, economies of scale in manufacturing, and innovations in financing have brought solar power within reach of grid parity in an increasing number of markets. Continued advancements and further cost reductions will expand these opportunities, including in developing countries where favourable solar conditions exist.
Policy environments for renewable energy in the developing world are being refined, drawing on the lessons learned from the successes and failures of policies adopted in first-mover markets.
We now see several regulatory models being successfully deployed in the developing world with consequent increase in investment and installations. Solar is proving to be viable in more places and for more applications than many industry experts predicted even a few years ago.
At the same time, this rapid market growth has been accompanied by an observed uneven expertise and know-how demonstrated by new market entrants. Building capacity and knowledge on the practical aspects of power project development, particularly for smaller developers, will help ensure that new PV projects are well-designed, well-executed, and built to last.
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