Solar PV Market Size, Share and Global Trend By Installation Techniques (Flat Roof Solar, Pitched Roof Solar, Ground Mount Solar), By Solar Module (Monocrystalline, Polycrystalline, Thin Film), By Supply Methods (On Grid, Off Grid), By Application (Residential, Commercial, Industrial, Utilities) and Geography Forecast till 2026
Over the last Decade countries like China, Germany and USA have come up as solar powerhouses and increased the production of electricity by Solar PV with China accounting for 130632MW, Germany accounting for 42394MW, and USA accounting for 41131MW in the year 2017.
As the developed and the developing countries have drifted towards the use of solar energy, the global solar pv market has now been spread into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. China Stands as the largest producer of solar panels and also photovoltaic energy in Asia Pacific region and also in the world.
Germany is the largest solar pv energy producer in Europe followed by Italy, United Kingdom, Spain and others. USA ranks top in North America and Chile in South America where other countries like Canada, Mexico, Brazil, Uruguay, have also increased the production of Solar Energy at a good rate. African continent receives maximum sunlight than any other continent on earth & African countries seem to have realised that which can be noticed by their approach towards solar energy in recent time. South Africa has been the most successful country in production of solar energy in this region by far which is followed by countries like Angola, Reunion, Egypt, Senegal etc.
Key Players Covered
Some of the major companies that are present in the Solar PV Market are Jinko solar, Trina Solar, Canadian Solar, JA Solar, Hanwha q cells, GCL system integration, Longi solar, Shufeng, Kyocera, Yingli , RGS energy, Solar City, Soligent , Sun power, Sunnova, Sunrun etc.
|Key Industry Developments|
|· In April 2019, a German government-owned bank KfW Bankengruppe has announced about its plans to invest in the state of west Bengal which will lead south Asia to get its biggest floating solar power plant which would have a capacity of 500MW & the investment would be of around of 2500 crore.
· In March 2019, a deal covering 200 projects spread over 9 states took place between Goldman Sachs and Sun-power for $86.9 million which involved 233MW of commercial solar leases.
· In march 2019, GAIL (Gas Authority of India Limited) and BHEL(Bharat heavy Electrical Limited) have signed a pact for development of solar power projects in which GAIL will act as project developer and BHEL will act as engineering, procurement, construction and project management contractor.
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