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Solar PV systems market growing steadily at 20.73% CAGR to 2021 detailed in new research report

Energy Market Research

The global solar PV systems market to grow at a CAGR of 20.73% during the period 2017-2021.

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The following companies as the key players in the global solar PV systems market: Jinko Solar, Trina Solar, SMA Solar Technology, Huawei Technologies, and SUNGROW. Other Prominent Vendors in the market are: ABB, Canadian Solar, Chint Group, DAQO NEW ENERGY, Delta Group, Enphase Energy, First Solar, Flin Energy, Fronius International, GCL-Poly, Golden Concord Holdings, GoodWe (Jiangsu) Power Supply Technology, Growatt New Energy Technology, Hanwha Group, JA SOLAR, KACO new energy, Kstar New Energy, KYOCERA, Lavancha Renewable Energy, Luminous India, MICROTEK INTERNATIONAL, OMRON, Power Electronics, Pure Volt, Redback Technologies, Renesola, Risen Energy, Schneider Electric, SHANGHAI SUNVIS NEW ENERGY, Sharp Corporation, Shunfeng International Clean Energy, Sineng Electric, SolarEdge Technologies, SolaX Power, Su-Kam Power Systems, SunPower, TABUCHI ELECTRIC, Talesun, TMEIC, Vikram Solar, Voltronic Power Technology, Waaree Energies, and Yingli Solar.

Complete report on the Solar PV Systems Market Research Report spread across 83 pages, profiling 48 companies with table of content is now available at…aspx?name=1127629 

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Solar PV Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is Floating solar PV plant. One of the major challenges in the adoption of solar power systems is the large land space required for their installation.

Countries worldwide are looking to save space while increasing the power generated from renewable sources, such as solar and wind. This has led to the increase in installation of solar panels on water bodies, such as dam reservoirs and canals.

According to the report, one of the major drivers for this market is Declining cost of solar energy. In the past, the high cost and intermittent nature of renewables were the major hurdles to their adoption.

One solution to the problem of intermittency is energy storage, which not only bridges the gap but is also used to increase the renewable energy penetration in hybrid systems. For instance, a standard PV can produce 20%-30% of power.

However, with the addition of an energy storage system (battery), the power generated from solar PVs can go beyond 60%-70%.

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Further, the report states that one of the major factors hindering the growth of this market is Intermittency in solar power generation. Solar power prices have been on a decline, resulting in the widespread adoption of solar PV systems.

The has increased the number of solar power installations over the years. However, the intermittent nature of solar power is a major challenge.

Power output from solar PVs is not constant and depends on factors, such as the efficiency of the panel, solar irradiation, and the degree of shade, which varies over the duration of the day and in overcast conditions.

This report covers the present scenario and the growth prospects of the global solar PV systems market for 2017-2021. To calculate the market size, the report considers sales of complete Solar PV system i.e.

Solar PV module and BOS (inverters, racking, switches, enclosures, and others) including installation cost.

A solar PV system can range from small-scale rooftop mounted system typically utilized in residential and commercial buildings to large utility-scale ground mounted systems, which generate thousands of MW of electricity. Solar PV systems can be grid-connected or decentralized/off-grid installations in remote locations.

Off-grid solar power systems can be standalone or hybrid systems coupled with other sources of energy, such as wind power.

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?           

What are the key market trends?                       

What is driving this industry?                                  

What are the challenges to market growth?

Who are the key vendors in this industry space?

What are the market opportunities and threats faced by the key vendors?

What are the strengths and weaknesses of the key vendors?

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