Increasing Need for Power from Industrial Sector to Drive Demand for Ultra-efficient Solar Power, says TMR

The demand for ultra-efficient solar power generation systems is driven by the rising focus on solar power, says Transparency Market Research (TMR) in a new research report. Solar power has taken on a crucial role in the global alternative energy sector, as it is abundantly available and relatively easy to convert into electricity. This is likely to remain the vital driver for the global ultra-efficient solar power market in the coming years.

The TMR report, titled ‘Ultra Efficient Solar Power Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,’ presents a detailed elaboration on the past development trajectory of the ultra-efficient solar power market. Solid analysis of the historical growth pattern of the ultra-efficient solar power market is used to derive actionable insights into the future of the market, which will allow readers to formulate informed market strategies to maximize their share in the market.

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Solar energy is one of the most abundantly available sources of energy and has thus received solid government support in much of the world. This has resulted in widespread installation of solar power generation infrastructure in the developed world and steady growth of the solar power sector in developing countries. However, the need to upgrade the existing solar power generation infrastructure to a more efficient configuration has led to the development of ultra-efficient solar power generation techniques.

The rising global need for power is a vital driver for the global ultra-efficient solar power market. The declining reservoirs of fossil fuels and the expanding global industrial sector have created a pressing need for a highly efficient and reliable power source, while the mounting pressure to combat the environmental damage caused by human activities has led to the initiation of legislation in several countries to encourage the development of environmentally viable energy sources. This has been beneficial for the global ultra-efficient solar power market and is likely to remain a crucial driver for the market in the coming years.

Despite the overall abundance of sunlight on earth, the inherent daily and seasonal fluctuations in its intensity are a key restraint on the global ultra-efficient solar power market. Even minor cloud cover can significantly reduce the amount of solar radiation reaching the solar cells, and the summer levels of energy generation through solar power can’t be maintained throughout the year. While ultra-efficient solar power generation technologies will help enhance the output in adverse climatic conditions, solar power is likely to remain dependent on climatic variables to some extent.

Despite the dominance of developed countries in the global solar power sector, emerging regions such as Asia Pacific are at the forefront of the ultra-efficient solar power sector. Countries such as China and India, where the bulk of the development of the solar power sector has occurred relatively recently, are the leaders in the global ultra-efficient solar power market, since ultra-efficient power generation infrastructure can be installed in these regions without the need for retrofitting.

The report also profiles key companies in the global ultra-efficient solar power market such as Tata Power Solar System Limited, Sunway, Intel, Areva, Renesola Limited, Solarworld AG, and Canadian Solar Inc.

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This release was published on openPR.