About Solar PV Power
Solar cells, additionally known as photovoltaic cells, convert daylight at once into electricity. Photovoltaics (often shortened as PV) receives its title from the system of changing mild (photons) to electrical energy (voltage), which is known as the photovoltaic effect. Solar electricity is the radiant electricity emitted from the sun, which is harnessed with the aid of the use of a number of applied sciences such as photo voltaic heating, photovoltaic cells, and others. It is an environment friendly shape of unconventional strength and a handy renewable answer towards developing greenhouse emissions and world warming.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that Chinese Manufacturers will contribute the maximum growth to Global Solar PV Power market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
First Solar (United States), Suntech (China), Sharp (Japan), Q-Cells (South Korea), Yingli (China), JA Solar (China), Kyocera (Japan), Trina Solar (China), SunPower (United States) and Gintech (Taiwan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Solar PV Power market by Type (Monocrystalline Solar PV Power, Polycrystalline Solar PV Power, Thin Film Solar PV Power and Others), Application (Residential, Commercial and Industrial) and Region.
On the basis of geography, the market of Solar PV Power has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Solar Panel, the sub-segment i.e. Thermodynamic will boost the Solar PV Power market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Artificial Intelligence, Blockchain, Grid Parity and Climate Change
Market Growth Drivers:
Rising among Manufacturers with the Development in Photovoltaic-Based Power Distribution Systems
Challenges:
High Manufacturing Costs, Need For Increase in Government Cooperation, Inefficient Financing Infrastructure and Lack of Consumer Awareness and an Overall Lack of Uniform Standards
Restraints:
High Initial Capital Costs, Problem of Efficiency, Complications When Moving and Materials Used to Make Solar Panels Can Cause Pollution
Opportunities:
Solar Technology Will Continue To Improve, Additional Solar Applications Will Gain Popularity, Demand For Solar Installation and Maintenance Will Grow and More Widespread Adoption of Solar Storage Solutions
Market Leaders and their expansionary development strategies
In October 2023, Sonnedix, the global renewable energy producer, announced the closing of its acquisition of a 416MWp solar photovoltaic (PV) portfolio from Enel Chile. The acquisition of Arcadia Generacion Solar and its four operating PV plants, cleared by Fiscalía Nacional Económica, positions Sonnedix as one of the largest utility scale renewables producers in Chile with over 2.5GW of controlled capacity and marks Sonnedix’s largest acquisition to date of operating assets across its global portfolio.
In December 2022, Soleos, one of the world's leading EPC service providers, has recently introduced its unrivalled solar panel- ANTARES. Recognizing the latest advancements and development in the energy sector, the company launched its sought-after solar panel module.
Electricity Act, 2003 governs solar strength law in the country. The act mentions provisions for preferential tariff and quotas for opting for renewable energy. Mandatory procurement of renewable strength for distribution licensees and facilitation of grid connectivity had been incorporated. The act governs the generation, transmission, distribution and buying and selling of electricity, inclusive of the tariff for sale of electricity. The institutional framework underneath the Electricity Act, 2003, contains electrical energy regulatory commissions at the central and nation levels, with attraction provision furnished to an Appellate Tribunal for Electricity (APTEL) which has been created underneath the Electricity Act, and from APTEL enchantment to the Supreme Court of India.
Key Target Audience
Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.