Press release
Global Solar Power Market future growth opportunities by 2026.Prominent Players- Tata Power Solar, Sunpower Corporation, Gintech Energy Corp., BrightSource Energy, Inc., ACCIONA ,Canadian Solar Inc., Kaneka Corp., Esolar Inc.,Suntech, Abengoa Solar S.A
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According to the report, the market is dominated by polycrystalline silicon cells and monocrystalline silicon cells because of the increasing demand for residential applications, with respect to categorization by technology. Because of the increase in demand for these applications, there is surge in demand for first-generation cells, which is ultimately expected to boost the market for solar power during the forecast period.
Launch of New Solar Storage System Technology to Bring Better Growth Opportunities
Developing economies are investing huge sums in solar panels for generating energy. This is because of the increasing demand from manufacturing industries. This is a major factor boosting the global market. In addition to this, solar energy producing panels also offers growth opportunities for commercial real estate property owners and rise in common areas maintenance (CAM) reimbursements, acting as a major factor propelling growth of the market.
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Other factor boosting the global solar power market is the rising demand for dye sensitizers, anti-reflection coating, electrochemical solar cells, and ultra-thin wafer solar cells. In addition to this, the increasing demand for renewable energy is prognosticated to drive the global solar power market in the forecast period.
However, the market may face rough waters in terms of energy efficiency for broad dissemination of thin film solar technology. This, coupled with, concerns pertaining to maintaining energy efficiency of PV system technology conversion may cause hindrance to the growth of the market in the forecast period.
Nevertheless, the increasing number of research and development activities in solar cell technologies and the discovery of ways and means to store solar cell technologies are anticipated to create lucrative growth opportunities for the market in the coming years.
Asia Pacific to Lead Market on Account of Launch of Efficient Power Transmission Technologies
Fortune Business Insights foresees the global solar power market to be dominated by the emerging nations of Asia Pacific namely China and India. This is because of the companies operating in the market that are paying more attention towards the upgradation of existing technologies to improve efficiency in power generation and transmission. In addition, companies are also focusing on increasing awareness about implementing green technologies in their machineries.
Major players of the market have their base in these developing nations and this also stands as a huge factors supporting growth in the region. These major companies are investing huge amount for introducing solar energy harnessing medium for better revenue generation. To cite an example, a company operating in the solar energy market namely, Sunpower Corporation invested about US$ 14.99 Mn for research and development of solar power machinery. Such investments are likely to bode well for the solar energy, making Asia Pacific the dominant region in the market.
Some of the companies operating in the global solar power market are Tata Power Solar, Sunpower Corporation, Gintech Energy Corp., Bright source Energy Inc., Acciona Energia S.A., Canadian Solar Inc., Kaneka Corp., Esolar Inc., Wuxi Suntech Power Co. Ltd. Abengoa Solar S.A., among others.
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