The global solar PV market is expected to reach 489.79 GW by 2020, according to a new report by Grand View Research, Inc. Rising demand for sustainable energy resources coupled with favorable regulatory policies, is expected to drive the market growth over the forecast period.
Supportive regulations involving federal subsidy and incentives expected to be the prime factors impacting the industry growth on a positive note. Europe has been a major market for solar PV owing to early adoption of the technology in the region owing to high consumer awareness and positive government outlook in region.
Increasing demand for renewable energy sources owing to rising consumer awareness towards cost benefits associated with the technology is expected to propel growth. Furthermore, depleting fossil fuel resources coupled with growing demand for durable energy sources is expected to have a positive impact on the industry growth.
The technology offer low conversion efficiencies as compared to conversional energy sources including oil and biomass. Furthermore, the solar PV performance gets affected by various factors including type of raw material used for solar cell manufacturing, availability of sunlight and solar PV designs which is expected to hamper its growth over the forecast period.
Further key findings from the report suggest:
- Utility is expected to be the fastest growing application segment, progressing at a CAGR of 21.3% over the forecast period, owing to the high demand for solar PV in electricity, and transportation
- Non-residential application segment accounted for 26.3% of the total market share in 2016, high employment of solar PV in industrial processes for fulfilling heating requirements
- European market is expected to witness a slow growth rate as compared to other regions, on account of early adoption of the technology in the region which led to saturation of the industry
- Asia Pacific accounted for 17.9% of the total market share in 2016, on account of the favorable government regulations and initiatives taken by the government to install clean energy resources in order to curb the prevailing issue of pollution
- The major players in the market are investing in R&D activities in order to come up with efficient and high performance systems in order to tap the rising consumer attention and to compete with the alternative energy resources
Access full research report on global solar PV market:
www.grandviewresearch.com/industry-analysis/solar-pv-industry
As per the findings of a study conducted by Hexa Research, the total worldwide Solar PV (photovoltaic) installed capacity for 2020 will be more than 480GW.
Key factors contributing to growth are higher global emphasis on clean energy production coupled with governmental support in the form of beneficial policies for development of Solar PV Market.
Sunbelt countries will particularly gain from regulations like Feed in Tariff which is a preferential rate program.Hexa Research foresees falling prices of energy generated using Solar PV in future, chiefly due to huge increase in capacity, especially in China.
The global Solar PV market demands that companies employ innovation and differentiation strategies as a way to grow.
Alliances and partnerships are crucial for gaining competitive edge.Browse Details of Report @ https://www.hexaresearch.com/research-report/solar-pv-industry/Non-residential applications of Solar PV are likely to grow at a CAGR higher than 19% from 2013 to 2020 owing to substitution of conventional energy forms by solar energy in Sunbelt regions.
Hexa Research observed that Utility Solar PV, with more than 44% share in the total installed capacity, was the biggest end use segment in the global Solar PV market in 2012.
The Solar PV Power Market report published by Market.us is an extensive anthology of the essential strand of the Solar PV Power market, assessed thoroughly by our team of the inquisitor.
The market infiltration report offers perspicacious data and information relevant to the market to familiarize the readers with the lucrative growth anticipation existing in this industry, eventually helping them contrive effective business strategies.
The Solar PV Power market report has been well organized curated using industry-verified data to offer guidance concerned with the leading manufacturers and suppliers affianced in this sector.
It further focuses on their pricing analysis, gross revenue, product portfolio, sales network & distribution channels, profit margins, and financial estimation.
Regional assessment of Solar PV Power market unlocks a superfluity of unexploited opportunities in regional and domestic market places.
Detailed company profiling accredits users to evaluate company shares analysis, emerging product lines, the scope of new markets, pricing strategies, innovation probability, and much more.The study throws light on the recent trends, technologies, approaches, and tools, which can boost the performance of companies.
Solar Plumb Solutions is a locally owned and operated business focusing on full range of solar services including solar hot water system installation, solar PV, repairs and maintenance in the City of Canning.We aim to make energy in City of Canning area affordable, sustainable and keep the environment clean.Some of our Services:Solar Hot Water in the City of CanningCity of Canning Solar EnergyService & Repairs in the City of CanningWe offer 24-hour a day, 7 days a week (24/7) Solar hot water repairs Canning to ensure that your hot water needs are met.
From small repairs to a completely new installation in the City of Canning.Give us a call today to discuss about all your solar hot water and PV electrical need.We are a proud Western Australian company utilising quality equipment and globally renowned brands.
We service the Perth metropolitan area and prioritise customer satisfaction.
Areas we service within Perth Includes:Central Metropolitan PerthWest Metropolitan PerthNorth West Metropolitan PerthEast Metropolitan PerthSouth East Metropolitan PerthSouth Metropolitan PerthWe are one of the best solar installation, services and repairs provider Perth Wide!We service all the listed suburbs and all their respective surrounding areas.
If your area isn’t listed, please call us on 08 9470 3753 and speak with one of our friendly staff.
