According
to the latest market study published by Transparency Market Research
(TMR) on the global solar photovoltaic (PV) installation market, the
volume of solar PV energy generation will rise at a CAGR of 10.70%
between 2012 and 2018. and states that energy generated using solar
photovoltaic installations totaled 29.6 gigawatts in 2011 and will
rise to 60.05 gigawatts by 2018. In terms of revenue, the market will
reach a valuation of US$145.9 bn by 2018.
In-depth
research report on Solar Photovoltaic (PV) Installation Market
with Full TOC at :
http://www.transparencymarketresearch.com/solar-photovoltaic-market.html
The
increasing need for energy across the globe for commercial,
industrial, and residential purposes is driving demand for alternate
energy sources such as solar photovoltaic panels, says the TMR
report. The abundance of solar energy, especially in tropical
countries that have intensive sunlight for a major part of the year,
is the reason for several market players to shift focus towards
installing solar photovoltaic panels for energy generation.
The
global solar photovoltaic installation market is also fuelled by the
growing concern regarding the warming of our planet due to greenhouse
gas emissions. Several governments and international agencies are
making consistent efforts to adopt renewable energy sources, which
would help curb the carbon footprint at every level. Other advantages
of solar photovoltaic installation are greater output efficiency,
falling prices, cheaper installation and maintenance costs, and
favorable government schemes and regulations.
Technology,
end user, grid type, and geography are the four criteria based on
which the solar photovoltaic installation market is divided in the
report. By technology, the segments of the market are thin film
photovoltaic, crystalline silicon solar photovoltaic, and others
(crystalline photovoltaic and organic photovoltaic). In 2011, the
conventional silicon solar photovoltaic segment held the largest
market share due to the low cost, high yield, and robust nature of
the installations based on this technology. However, in the coming
years, thin film PV will lead the solar photovoltaic market due to
the rising popularity of thin film PV systems across the world.
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By
end use, the market is divided into utility scale solar photovoltaic,
commercial solar photovoltaic, and residential solar photovoltaic. In
recent years, the installation of solar photovoltaic panels has
increased considerably in residential and commercial buildings to cut
energy costs. On a regional basis, North America, Asia Pacific,
Europe, the Middle East and Africa, and Rest of the World are the key
segments of the global solar photovoltaic installation market.
Currently, Europe dominates the global solar PV installation market.
However, the emerging economies in Asia Pacific will exhibit
increased demand for solar PV panels due to their increasing energy
need for commercial and residential applications.
The
report mentions some of the major companies operating in the global
solar photovoltaic installation market, namely Trina Solar Ltd.,
Bosch Solar Energy AG, Suntech Power Holdings Co. Ltd., Canadian
Solar Inc., Yingli Green Energy Holdings Co. Ltd., and First Solar
Inc.
The
solar photovoltaic installation market is segmented as follows:
Solar
Photovoltaic Installation Market: By Technology
- Thin Film PV
- Crystalline Silicon PV
- Others (Organic Solar PV, CPV)
Solar
Photovoltaic Installation Market: By End-Use
- Residential Solar PV
- Commercial Solar PV
- Utility Scale Solar PV
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