Solar Energy Market Research Report for Complete Analysis of Current Scenario

The solar energy system is used to harness the energy emitted from the sun. It is an efficient renewable energy and mitigates environmental risks that arise from greenhouse gas emissions.

Access the Full Report @ https://www.alliedmarketresearch.com/solar-energy-market

The global rise in demand for alternative energy sources has propelled the demand for solar energy. Moreover, market assisting programs and government incentives for rooftop installations of solar panels drive the growth of the market, with increasing applications in residential, non-residential, and commercial sectors. However, the geographical footprint has affected the solar energy market growth, owing to a decrease in the conversion efficiency of solar panels. An increase in governmental tariff plans and renewable energy certificates such as solar energy renewable certificates (SREC) is expected to drive market growth. In addition, investments in R&D to develop high-efficiency third-generation solar modules such as perovskites are projected to provide growth opportunities for the market.

An increase in the installation of rooftop solar panels positively impacts the growth of the solar energy market. Photovoltaic systems have gained major traction owing to an increase in applications in the residential and nonresidential sectors for electricity generation. Furthermore, an increase in the installation of concentrated solar power systems (CSPs) in form of parabolic troughs and solar power towers is anticipated to fuel the growth of the market, owing to an increase in application for electricity generation. The photovoltaic systems segment has dominated the market in 2018. The concentrated solar power systems segment is expected to grow at a CAGR of 10.3% during the forecast period.

Get a PDF brochure for Industrial Insights and Business Intelligence @ https://www.alliedmarketresearch.com/request-sample/117

Emerging economies such as China, Japan, and South Africa have experienced a significant rise in the demand for solar energy with increasing applications in residential and nonresidential sectors. China has increased its photovoltaic (PV) installations and the rise in governmental tax incentives has favored the growth of the solar energy market, especially in India. Furthermore, the lack of an electricity network has accelerated the market growth potential in remote areas of Africa and Latin America.

Key Findings of the Solar Energy Market :

• The photovoltaic system is expected to grow at a CAGR of 25.1% from 2019 to 2026.
• The parabolic troughs under concentrated solar power systems is expected to grow at a CAGR of 10.3% during the forecast period.
• The solar power tower segment is expected to grow at a CAGR of 12.5%.
• North America is expected to register a CAGR of 19.0% during the forecast period.
• In Asia-Pacific, China is expected to grow at a high CAGR of 25.0%.

Top players operating in the market include Abengoa Solar S.A., Acciona Energia S.A., Wuxi Suntech Power Co. Ltd., Bright Source Energy Inc., Esolar Inc., Gintech Energy Corp., Kaneka Corp., Sunpower Corporation, Canadian Solar Inc., and Tata Power Solar.

Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/117

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll-Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com

This release was published on openPR.