Solar Panels Market industry Research Report- Forecast to 2023
Solar Panels Market Registered 34.1% Average (AGR) & Expecting To Grow With CAGR 20.18%.
Page |1
Copyright Š 2018 Market Research Future.
Solar Panels Market industry Research Report- Forecast to 2023
1 Summary A solar panel is a flat construction device that has collection of solar cells or photovoltaic that can generate electricity. These cells can be arranged in a grid like pattern on the surface of solar panels. Solar panels are operated by the positive and negative doped silicon working in conjunction with the conductors on alternately charged surfaces. Electricity is generated when photons (sunlight) strike the surface and causes flow of electrons. A solar panel is a silicon based layered semiconductor module that can produce electricity from sun light. This photovoltaic effect is created by the flow of electrons inside the module, which can be maximized by the increased hours of exposure to sunlight. Solar panels have been dominating the renewable energy market in recent years because of the ability of solar power to reach grid parity as conventional energy resources and technological development.
Key Players: The key players of solar panel market are Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko Solar Holding Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), Hanwha Q CELLS Co., Ltd., (South Korea), ABROS green GmbH (Germany), Yingli Solar (China), SunPower Corporation (U.S.A), Abengoa Solar (Spain), eSolar, Inc. (U.S.A).
Page |2
Copyright Š 2018 Market Research Future.
Solar Panels Market industry Research Report- Forecast to 2023
2 Market Overview: Solar panel is the panel intended to entrap the sun's rays as a source of energy to generate electricity and heat. It diminishes the amount of electricity produced from fossil fuels by supplying the operations with clean, renewable energy from the sun. Solar panels are also called photovoltaic or PV modules as they directly transform sunlight into electricity. The sun produces enough energy daily to supply 10,000 times the current worldwide electrical needs. Solar Photovoltaic panels are coupled assembly of solar cells with a typical 6x10 dimension that generate and supply solar electricity for commercial and residential applications. They are also extensively used for powering electronic devices, individual gadgets, and vehicle batteries. Installing solar panels on a typical house roof can cut down the household’s carbon footprint by an average of 35,180 pounds of carbon dioxide per year. Scope of the Report This study provides an overview of the global solar panels market, tracking three market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global solar panels market by its application, by module type, by technology and by regions.
By Technology
Solar PV
CSP By Module Type
Parabolic Troughs
Linear Fresnel Reflectors
Power Towers
Parabolic Dishes
Crystalline
Thin Film By Application
Residential
Commercial
Utilities
Page |3
Copyright © 2018 Market Research Future.
Solar Panels Market industry Research Report- Forecast to 2023 By Region
North America
Asia Pacific
Europe
Market Research Analysis: Solar PV by technology segment is expected to grow at the fastest rate and hold the largest market size in forecast period. Solar cells, also known as photovoltaic cells, converts sunlight directly into electricity. Basically the name PV originates from the process of converting light (photons) to electricity (voltage), which is called the PV effect. The PV effect was discovered in 1954, when scientists at bell laboratories discovered that silicon created an electric charge when exposed to sunlight. Solar PV was later commercialized and brought up in the market, which are now widely used from powering space satellites to smaller items such calculators and watches. Solar photo-voltaic holds the largest share in the solar panel market with the highest installed capacity of 306.5 GW till 2016 around 2% of the world’s electricity demand. The levelized cost of electricity (LCOE) ranges between USD 0.11 and USD 0.12/kWh (in South and North America, respectively) to over USD 0.31/kWh (in Central America and the Caribbean). But for individual projects there are wide range of costs. In countries with decent solar resources, projects are now being constructed with an LCOE of USD 0.08/kWh, while a recent tender in Dubai, United Arab Emirates, resulted in a successful bid for a solar PV power purchase agreement (PPA) for just USD 0.06/kWh, without financial support. It is expected that the levelized cost of electricity (LCOE) of utility-scale solar PV projects would witness an average fall of 50% during the forecast period.
Page |4
Copyright © 2018 Market Research Future.
Solar Panels Market industry Research Report- Forecast to 2023
Page |5
Copyright Š 2018 Market Research Future.