Solar Panels Market Research Report- Forecast to 2023
Solar Panels Market Expected to Inflate at CAGR 20.18 %
% By 2023
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Copyright Š 2018 Market Research Future.
Solar Panels Market Research Report- Forecast to 2023
1 Summary The market is driven by various factors such as increase in solar systems installations and generous government initiatives and policies that support solar energy generation. This is mainly because, solar panel power generation is less polluting and produces less carbon emissions when compared with traditional conventional energy sources such as coal, oil and petroleum. Solar power generation is helping in the fight against climate change as well as it is acting as a source of power for remote and off grid areas where still millions of global population lives. However, the growth of the market can be hindered by the low power generation capacity of the solar panels and increasing stringent regulations on the land used for solar power generation sites.
Industry Top 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).
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Copyright Š 2018 Market Research Future.
Solar Panels Market 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.
Segments:-
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Copyright Š 2018 Market Research Future.
Solar Panels Market Research Report- Forecast to 2023
3 Market Research Analysis Asia-Pacific is the biggest solar power market; followed by Europe and then North America. China alone shares almost 44% of new solar PV capacity. Spain remained the global leader in existing CSP capacity, with 2.3 GW till the end of 2016, followed by the United States with just over 1.7 GW. These two countries still accounted for over 80% of global installed capacity. The rest of the world (ROW) region is comprised of Brazil, Middle East, and Israel; which are gaining attention from the major players of the PV and the CSP market considering the potential that these regions hold.
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Copyright Š 2018 Market Research Future.
Solar Panels Market Research Report- Forecast to 2023
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Copyright Š 2018 Market Research Future.