Rise of industrialization has increased the importance of solar energy

Solar energy is one of the rich renewable resources in the world that can be categorized in terms of the wavelengths that determine infrared, visible light and ultraviolet. Solar energy is a viable alternative to fossil fuels, which are contributing to environmental pollution. The worldwide depletion of energy sources and growing environmental concerns are driving the need for solar power. However, the seasonal & fluctuating nature of solar radiations is a factor which significantly hinders the adoption of solar power. The ultra efficient solar power #technology resolves this issue by maximizing the amount of energy generated. Solar energy is collected and utilized through various technologies such as solar PV, Solar Thermal and Concentrated PV. These technologies are promoted by governments and power companies through subsidies. Research and development is being conducted regarding various other technologies which are presently in the pipeline. There is a rising demand for energy sources that are renewable and environmentally friendly. This is a driving which boosts the growth of the global ultra efficient solar energy market. The rising energy consumption and the energy crisis in developing economies have illuminated the need for solar energy in developing economies such as China, India, Brazil, Canada and Germany.

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Ultra efficient solar power market can be segmented on the basis of material and technology of solar devices. The material market is further segmented into two types; organic material and non-organic material. Solar devices made of non-organic materials include cadmium telluride (Cd-Te), copper-indium diselenide (CIS) and copper-indium gallium diselenide (CIGS) solar cells and organic material cells include organic PV (OPV) and dye-sensitized solar cells (DSSC). Depending on the technology solar power market is sub-divided into three types; crystalline (c-Si), thin films and concentrated PV. A globally used crystalline PV cell is a thin-wafer, combination of thicker layer of boron-doped (P-type) silicon and a very thin layer of phosphorous-doped (N-type) silicon.

The report also discusses the business strategies adopted by the players at the global, regional, and country-level. Some of the market's key participants are Abengoa Solar, Areva, Canadian Solar, First Solar, Intel, Motech Industries, Renesola, Solarworld, Sunway, Tata Power Solar System, Yingli Solar. The study also focuses on various businesses or inorganic business development strategies for expanding consumer networks through product formation, organization extension, partnerships, mergers, and acquisitions.

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