The developed economies such as the U.S., solar photovoltaic has proved to be an economic alternative at the time of peak power needs. In addition, the success of distributed solar and rapidly reducing cost has led some U.S. utilities to establish their own solar installations such as residential and community projects. However, high panel installation cost hinders the market growth. But the ongoingdevelopments leads to improved technology and efficiency as the quantity of material being deployed in solar cells has reduced initial costs.
Solar photovoltaics are electronic devices that convert sunlight directly into electricity. Solar cells are tightly packed behind a glass sheet to protect them from the environment. Photovoltaic cells are internally connected together to form a photovoltaic module. The number of cells that are interconnected are dependent on the type of application. The solar trackers are deployed efficiently on the solar panel to improve the efficiency of the solar cell. The efficiency is improved by approximately 20% in winters and 50% in summers by deployment of solar tracker.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/191
solar photovoltaic panels market witnesses numerous opportunities, owing to rapid increase in development of renewable power in Asia-Pacific and LAMEA to cope up with the increase in electricity demand. In addition, the market is driven by domestic content laws and rise in photovoltaic panel installation projects owing to expiration of federal investment tax credit (ITC).
The crystalline silicon solar photovoltaic segment accounted for the maximum share, in terms of volume, in 2016. Moreover, this segment witnesses strong demand in countries such as China and Japan owing to the strong development of the residential rooftop segment and increased demand for high-efficiency products. In addition, monocrystalline technology is expected to witness strong growth owing to technological advancements and greater solar efficiency.
Get detailed COVID-19 impact analysis on the Market: https://www.alliedmarketresearch.com/request-for-customization/191?reqfor=covid
In 2016, Europe accounted for nearly half of the total solar photovoltaic panels market, and is expected to continue this trend, owing to rapid solar photovoltaic installations, specifically in China, India, Japan, and the other developing countries.
The major companies profiled in the report include Suntech Power Holding Co. Ltd., Sun Power Corporation, First Solar Inc., Yingli Green Energy Holding Co. Ltd., Canadian Solar Inc., Schott Solar Ag., Sharp Corporation, Solar World Ag, Jinko Solar Holding Company Ltd. Corporation, and Trina Solar Ltd.
For Purchase Enquiry:https://www.alliedmarketresearch.com/purchase-enquiry/191
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.