Energy

Solar Energy Market Study to 2025 | Dominated by General Electric Company, Kyocera Corp., Mitsubishi Electric Corp., Schneider Electric, St. Gobain and Parker Hannifin Inc

Solar Energy Market
Solar Energy Market
Press Release

“New Report added on assessment of solar energy market with technologies and an analysis of companies/manufacturers & related system providers. Market dynamics such as drivers, restraints, and opportunities.”

The topics analyzed within solar energy report include a detailed breakdown and analysis of the global markets for solar technologies by geography, technology and application. Additionally, included are a review of the different technologies from second generation and third generation solar technologies such as Organic Photovoltaics (OPVs)/Plastic Solar Cells and Multi-junction Photovoltaics (MJPVs) and Concentrating Photovoltaics (CPVs) which are currently in commercial use.

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The scope of this report extends to sizing of the solar energy market and an analysis of global market trends with market data for solar installations at global level in 2017, which is being considered as the base year, 2018 as the estimate year and forecast for 2023 with projection of CAGR from 2018 to 2023. Market data provided in volume is cumulative installed capacity. The report also provides the value in $ millions corresponds to the volume presented in this report.

The growth of the solar energy market is driven by increase in environmental pollution and provision of government incentives & tax rebates to install solar panels. In addition, decrease in water footprint associated with solar energy systems has fueled their demand in power generation sectors. The demand for solar cells has gained major traction owing to surge in rooftop installations, followed by increase in applications in the architectural sector.

The solar technologies comprise a broad industry that is characterized by a high level of diversity, creativity and flexibility. The industry operates with a fairly high level of tolerance for experimentation and risk-taking which has, in the long term, resulted in overall growth and wider acceptance of the legitimacy of the industry.

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Solar PV electric generation is typically thought of in the context of generating electricity for use in residential, commercial or industrial grid-tied or off-grid applications, and this will continue to remain a major application for alternative solar technologies into the foreseeable future.

On the other hand, the Solar thermal (ST) technologies are products and power installations that capture, concentrate and/or absorb sunlight to provide thermal energy to a process or system. Solar thermal technologies are segmented into two major categories, solar heat (SH) and concentrated solar power (CSP).

Recent Developments –

  • Industry analysis of the solar energy technologies
  • Analyses of global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
  • Detailed study of market driving forces, opportunities, restraints and other critical technological and regulatory updates that influence the current and future market dynamics
  • Regional dynamics of the solar energy market covering North America, Europe, APAC and other emerging economies from the rest of the world

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Solar PV technologies are also employed for novel applications such as integration with portable products to extend battery life through charging with solar cells (electronics integrated photovoltaics, or EIPV), automotive applications, remote sensing and power, unmanned systems, and integration with buildings (building- integrated photovoltaics, or BIPV) through production of windows or roofing structures with built-in PV modules.

The global solar energy industry is bifurcated into photovoltaic cells and concentrated solar power systems (CSP). Photovoltaic cells are further segmented into inorganic and organic cells, whereas CSP systems is subsegmented into parabolic troughs, solar power towers, and others. According to solar module, the market is categorized into monocrystalline silicon cells, polycrystalline silicon cells, cadmium telluride silicon cells, amorphous silicon cells, and others.

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