Press release
Why the Bifacial Solar Panels Market is set to explode? Top Companies : Canadian Solar Inc., LG Electronics, Trina Solar, Jinko Solar Co., Ltd., Adani Solar, Suntech, Yingli Solar, Sunpreme Inc., Prism Solar Technologies, Inc., Ankara Solar Enerji A?, AE
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The report classifies the global bifacial solar panels market on the basis of type, application, and geography. In terms of type, the market is segmented into polycrystalline solar panels, monocrystalline solar panels, and thin-film solar panels. Amongst these, the monocrystalline panel offers more energy-efficiency than the other two solar panels. This, combined with the high cost, makes it preferable for usage in commercial projects. Polycrystalline solar panels, on the other hand, are cost-effective and hence, are used more in residential projects.
Top Players
o Prism Solar
o Lumos Solar
o Ankara Solar
o Sunpreme
o Suntech Power
o LG Electronics
o LONGi Solar
o Trina Solar
o SP Enerji
o Adani Solar
o Yingli Solar
o AE Solar
o JA Solar
o SoliTek
o Jinko Solar
o Canadian Solar Inc.
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Increasing Number of Planned Solar Projects to Favor Growth in Asia Pacific
The global bifacial solar panels market is geographically segmented into Europe, the Middle East and Africa, Asia Pacific, North America, and Latin America. Amongst these areas, North America and Europe are anticipated to lead the bifacial solar panels market. This is because of a rise in the investment by numerous enterprises in solar projects in these regions. They will acquire a notable share of the market in the forthcoming years. In Asia Pacific, countries, such as Indonesia, Australia, and China will have a huge potential to gain the largest market opportunity during the forecast period. This will occur due to the planned solar projects that are likely to begin during the forthcoming years. Asia Pacific will be followed by the Middle East and Africa as well as Latin America.
Key Industry Developments
o In Feb 2019, LONGi Solar has bagged a contract to supply bifacial PERC modules for the largest solar project to be built in Mitchell County, Georgia, with a capacity of 224 MW. The project is expected to come online by the end of 2019
o In Feb 2019, Sunpreme, Inc. and Tigo Energy, Inc. has announced the completion of commercial solar installation on smart bifacial solar panels in California's largest contiguous solar carport structures in the bay area
o In Jan 2017, Suntech Power has signed a strategic cooperation agreement with Jolywood Solar Technology to bring high-efficiency N-type bifacial solar module to the market
Suntech Power, LONGi Solar, and Other Key Players to Focus on Strategic Collaboration and Contract Acquirement to Gain Competitive Edge
Suntech Power, a producer of solar panels, headquartered in China, announced that it has signed a strategic cooperation agreement with Jolywood Solar Technology, a prominent producer of PV, bifacial solar cell, solar module, and more, based in Taizhou, in January 2017. The agreement was signed with the aim to bring high-efficiency N-type bifacial in the global market. According to Suntech, there has been a rapid rise in the homogenization of PV market. This has further resulted in the product and technological innovations which are necessary for sustainable development. N-type bifacial solar cells have several advantages, namely, low LID, double side power generation, impressive weak light performance, and high efficiency.
Sunpreme, Inc., solar PV manufacturer, announced that it has completed the commercial rooftop and carport solar system installation at a shopping center in California with the assistance of Tigo Energy, Inc. in January 2019. The system includes Tigo TS4-L (Long Strings) Optimizers integrated with Sunpreme's award winning GxB380 SM Bifacial PV Panels.
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LONGi Solar, a manufacturer of high-efficiency mono-crystalline solar cells and modules, headquartered in China, acquired a contract in February 2019. According to the contract, the company will supply 224MW bifacial PERC modules for the largest solar project that will be built in Mitchell County. The entire project is anticipated to be completed by 2019. It will aid in providing electricity to more than 30,000 households.
Key Market Driver - Increasing demand of electricity
Key Market Restraint - High installation cost
Key Segmental Overview:
1. By Type
o Monocrystalline Solar Panels
o Polycrystalline Solar Panels
o Thin-film Solar Panels
2. By Application
o Residential
o Commercial
o Others
3. By Geography
o North America (USA and Canada)
o Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
o Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
o Latin America (Brazil, Mexico and Rest of Latin America)
o Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/bifacial-solar-panels-market-100291
Major Table of Content For Bifacial Solar Panels Market:
1. Introduction
2. Executive Summary
3. Market Dynamics
4. Key Insights
5. Global Bifacial Solar Panels Market Analysis, Insights and Forecast, 2026
6. North America Bifacial Solar Panels Market Analysis, Insights and Forecast, 2026
7. Europe Bifacial Solar Panels Market Analysis, Insights and Forecast, 2026
8. Asia Pacific Bifacial Solar Panels Market Analysis, Insights and Forecast, 2026
9. The Middle East and Africa Bifacial Solar Panels Market Analysis, Insights and Forecast, 2026
10. Latin America Bifacial Solar Panels Market Analysis, Insights and Forecast, 2026
11. Competitive Landscape
12. Company Profile
13. Conclusion
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