Industry Background:
A solar photovoltaic (PV) system is collection of one or more solar panels combined with an inverter and other electrical and mechanical hardware which use energy from the sun to generate electricity. Photovoltaic systems can vary greatly in size from small rooftop or portable systems to massive utility-scale generation plants. According to systems functional and operational requirements, component arrangements, and their connection to other power sources and electrical loads, the system is categorized. The solar PV systems is designed to offer DC and/or AC power service, can operate interconnected with or independent of the utility grid, and can be attached with other energy sources and energy storage systems.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | JA Solar Holdings (China), Sun Power Corporation (United States), First Solar Inc (United States), Yingli Green Energy Holding Co. Ltd (China), Canadian Solar Inc (Canada), Renesola (Canada), Mitsubishi Electric Corporation (Japan), Solar World AG (Germany), Jinko Solar Holding Company Ltd (China) and Trina Solar Ltd (China) |
CAGR | % |
This growth is primarily driven by Increasing Lands of Solar Power Plants and Increasing Demand for Off-Grid Installations of PV Systems for Commercial & Residential Purposes.
Globally, a noticeable market trend is evident Rising Demand for Solar Driven Vehicles and Electrical Appliances. Major Manufacturers, such as JA Solar Holdings (China), Sun Power Corporation (United States), First Solar Inc (United States), Yingli Green Energy Holding Co. Ltd (China), Canadian Solar Inc (Canada), Renesola (Canada), Mitsubishi Electric Corporation (Japan), Solar World AG (Germany), Jinko Solar Holding Company Ltd (China) and Trina Solar Ltd (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On June 4, 2019 - Canadian Solar Inc., one of the world's largest solar power companies, announced today that its wholly owned subsidiary Recurrent Energy, LLC has signed a power purchase agreement ("PPA") with Dallas-based Fortune 100 oil and gas pipeline company, Energy Transfer. This PPA represents Energy Transfer's first-ever dedicated solar contract.
Market Drivers
- Increasing Lands of Solar Power Plants
- Increasing Demand for Off-Grid Installations of PV Systems for Commercial & Residential Purposes
Market Trend
- Rising Demand for Solar Driven Vehicles and Electrical Appliances
Restraints
- Rising Grid Connection Issues and Interconnection Delays
Opportunities
Increase in Government Initiatives and Programs
Challenges
Insufficient Grid Capacity Posing Difficulty for Set Up Of New Plants
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Solar PV Systems Study Sheds Light on
The Solar PV Systems Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Solar PV Systems industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Solar PV Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.