GCL System Integration Technology Co.,Ltd , Sunnova Energy Corp. , Hanwha Q CELLS America Inc. , LONGi Solar are the Leading Players in Solar PV Market

The increasing consumption of solar power is expected to boost the global solar PV market during the forecast period. This information was shared in a report, titled “Solar PV Market Size, Share and Global Trend by Installation Techniques (Flat Roof Solar, Pitched Roof Solar, Ground Mount Solar), By Solar Module (Monocrystalline, Polycrystalline, Thin Film), By Supply Methods (On Grid, Off Grid), By Application (Residential, Commercial, Industrial, Utilities) and Geography Forecast till 2026.”

The demand for clean energy is growing across the globe. Moreover, photovoltaic devices can convert sunlight into electricity. The rapidly growing solar PV market is giving rise to innovative products such as solar air conditioning, solar inverter, solar chimney, solar charger, solar-powered refrigerator, solar dryer, solar cooker, solar bus, solar street lights, solar cars, and solar traffic lights

Get Sample PDF@ https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/solar-pv-market-100263

China, the Largest Producer of Photovoltaic Energy Drives the Market in Asia Pacific

Among regions, Asia Pacific is expected to lead the global solar PV market during the forecast period. This growth is mainly supported by China’s developments in photovoltaic energy and solar panels. The country is the largest producer of these two in the world. South Africa produces solar energy at a rapid rate as the African continent receives the maximum sunlight than other continents.

Apart from Asia Pacific, North America is also anticipated to witness strong demand for solar PV systems in the forthcoming years. Among countries in North America, the U.S. is contributing to the growth of the market in this region. Other countries such as Mexico, Canada, Uruguay, and Brazil are expected to increase the production of solar energy.

Governments Aim Towards Implementing Green Energy Initiatives Boost the Market

The fluctuations in crude oil prices and environmental concerns regarding hydropower are fueling demand for energy. This, coupled with the increasing incidence of nuclear radiation accident cases in nuclear plants, can positively impact the growth of the market. driving the global market.

“Governments around the world are increasingly focusing to fulfil their targets concerning green energy implementation,” said a lead analyst at Fortune Business Insights. “Several investors are planning to invest in solar photovoltaics, which drives the solar PV market,” he added. Countries are also focusing on developing clean energy projects. The installation of solar panels in increasing with the provision of tax rebates and government incentives.
In addition to this, solar energy is one of the most renewable sources. Its usage is expected to help countries meet their policy requirements such as ensuring affordable and reliable energy. Several countries are shifting towards solar PV panels as they help to solve carbon emission issues and alleviates pollution. All the above-mentioned factors are expected to contribute to the growth of the market in the forecast years.

Contrary to this, the high cost associated with the installation of solar panels is expected to hamper the growth of the market. Once the panels are installed, the used area cannot be utilized for any other purpose. This can act as a major growth restraint for the market.

Goldman Sachs and Sun-power Sign an Agreement to Complete 200 Solar PV Projects in 9 States
Companies are planning to enter into partnerships in order to develop solar power projects across different states. For instance, the Gas Authority of India Limited (GAIL) and Bharat Heavy Electrical Limited (BHEL) have signed an agreement in March 2019.

This agreement is to develop solar power projects. GAIL will act as a project developer, whereas BHEL will help in procurement, construction, project management, and engineering. Another company called Goldman Sachs signed an agreement with SunPower for buying commercial solar leases. Both the companies plan to work on 200 projects across 9 states to offer customer maintenance and upgrades if any.

Some of the other leading companies operating in the global solar PV market include

Jinko Solar Co., Ltd.
Canadian Solar Inc.
Trina Solar
JA Solar
GCL System Integration Technology Co.,Ltd
Sunnova Energy Corp.
Hanwha Q CELLS America Inc.
LONGi Solar
Shufeng,
Yingli Solar
Kyocera International – Communications Equip
Sunrun
RGS Energy,
Soligent
Solar City.

Know More@ https://www.fortunebusinessinsights.com/industry-reports/solar-pv-market-100263

Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
+1 424 253 0390
Email: sales@fortunebusinessinsights.com

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

This release was published on openPR.