Solar PV Market Overview Sales, Cost and Capacity Forecast To 2020
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
are crucial factors for adoption of solar power. Alongside, numerous government initiatives,<br />
schemes <strong>and</strong> subsidies to promote use of solar powered devices <strong>and</strong> generation of solar energy<br />
are propelling growth of the solar <strong>PV</strong> market. A photovoltaic system or <strong>PV</strong> system uses<br />
photovoltaic to convert solar energy into usable electrical energy. <strong>Solar</strong> <strong>PV</strong> system involves array<br />
of solar panels mounted on rooftop, it converts solar energy into DC power. <strong>Solar</strong> inverter is also<br />
used to convert DC power into variable AC power. Other essential components for solar <strong>PV</strong><br />
modules are mountings, electrical cables, <strong>and</strong> other electronic components for a proper set up.<br />
<strong>Solar</strong> <strong>PV</strong> modules also consists of a solar tracking system in order to monitor <strong>and</strong> improve overall<br />
energy conversion rate <strong>and</strong> embed advanced battery solutions as reduction in the cost for<br />
storage devices is also on rise. A solar <strong>PV</strong> module is considered as balance of system (BOS)<br />
because all components associated with the module are easily identified <strong>and</strong> dost not include<br />
excess of hardware.<br />
<strong>Solar</strong> <strong>PV</strong> systems are classified into three major types such as small, rooftop-mounted <strong>and</strong><br />
building-integrated systems. These types have variable capacitates ranging from a few to several<br />
tens of kilowatts to hundreds of megawatts. The solar <strong>PV</strong> system that involves of hundreds of<br />
megawatts are mainly utilized in large utility-scale power stations. The dissimilarity in the three<br />
types of the rooftop solar photovoltaic systems is attributed to the type of inverter used <strong>and</strong><br />
number of batteries. Most of the solar powered systems are grid-connected, while rest of them<br />
are further divided into off-grid <strong>and</strong> st<strong>and</strong>alone systems. <strong>PV</strong> systems are further categorized<br />
into grid-connected systems, st<strong>and</strong>-alone systems, off-grid, residential <strong>PV</strong> systems, utility-based<br />
<strong>PV</strong> systems, distributed <strong>PV</strong> systems, centralized systems, ground-mounted systems, <strong>and</strong> fixedtilt<br />
systems.<br />
Browse Full Research Report @<br />
https://www.millioninsights.com/industry-reports/solar-pv-market<br />
The solar <strong>PV</strong> industry is divided into regional market segment such as North America, Europe,<br />
Asia-Pacific, Latin America <strong>and</strong> Africa. North America has shown major growth in recent years<br />
owing to numerous incentives provided by regional governments in the form of subsidies <strong>and</strong><br />
tax benefits to limit the green gas emissions. Asia-Pacific region is predicted to hold major<br />
market share in the solar <strong>PV</strong> market with massive growth in forecast period. Countries such as<br />
India, China <strong>and</strong> Singapore are leading the Asia-Pacific market with growing adoption of solar<br />
thermal <strong>PV</strong> plants <strong>and</strong> power stations, <strong>and</strong> increase in investment by market players due to<br />
potential opportunities in the region. The solar <strong>PV</strong> industry key players are Sharp Co., Trina <strong>Solar</strong><br />
Co., Pristine Sun Ltd., JA <strong>Solar</strong> Ltd., Yingli <strong>Solar</strong>, <strong>and</strong> Vikram <strong>Solar</strong>.
Change language