Utilities

Global Solar Electricity Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends

August 23, 2021August 23, 2021 by The Business Research Company

The Global Solar Electricity Market Report by The Business Research Company covers solar electricity market drivers and restraints, solar electricity market size, major players, and the impact of COVID-19 on the solar electricity market.

The solar electric power generation market consists of sales of solar electric power and related services. It is used in various forms to support the electricity needs of homes or businesses. The solar electric power generation industry includes companies that operate facilities which produce electricity from solar energy. The electricity from solar energy is produced by the conversion of solar energy in photovoltaic (PV) cells, which generate voltage and current at their terminals when exposed to sunlight. The electricity produced is then supplied to electric power transmission systems, which are used to move large quantities of power from generating facilities to substations, and to distribution systems, which are used for short distances to transport electricity to customers locally.

Rising investments from government organizations contributed to the growth of the solar electric power generation market. The market has enhanced from increased government spending on advanced solar panel research and development.

The global solar electricity market is expected to grow from $1947.2 billion in 2020 to $2078.17 billion in 2021 at a compound annual growth rate (CAGR) of 6.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2762.29 billion in 2025 at a CAGR of 7%.

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Some solar electricity market trends include artificial intelligence being used increasingly to meet the rising demands of the solar power market. Artificial intelligence is the machinery simulating processes of human intelligence, particularly computer systems. Expert systems, natural language processing (NLP), speech recognition and machine vision are common AI applications. The use of machine learning through micro grid controllers and artificial intelligence (AI) are the latest solar energy technology solutions that help to adapt to the growing business needs. These technologies continue to evolve to meet the rising needs of the solar industry and the businesses use it as an energy-efficient source. Additionally, new software developments are helping in shaping the future of companies that are applying artificial intelligence and machine learning in solar energy technology.

Global solar electricity market segments include:

1) By Technology: Photovoltaic Systems, Concentrated Solar Power Systems.

2) By Solar Module: Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, Others.

3) By End-User: Residential, Commercial, Industrial.

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Read More On The Solar Electricity Global Market Report 2021: COVID 19 Impact and Recovery to 2030 At:

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The Solar Electricity Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides solar electricity market overviews, analyzes and forecasts market size, share, solar electricity market players, solar electricity market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.

The solar electricity market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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Read Solar Electricity Global Market Report 2021: COVID 19 Impact and Recovery to 2030 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country, Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.

Market Players Covered: Enel SpA, Exelon Corp., Dominion Energy, Inc, Engie S.A, Canadian Solar Inc., Sharp Corporation, STATE POWER INVESTMENT CORP. LTD, Wuxi Suntech Power Co. Ltd., Tata Power Solar, First Solar Inc., Trina Solar Limited, Yingli Solar, ReneSola, Motech Industries Inc., Abengoa Solar S.A., Acciona Energia S.A., Bright source Energy Inc., Esolar Inc., Gintech Energy Corp., Kaneka Corp., Sunpower Corporation, Verengo Inc, RGS Energy, JA Solar, GT Advantage Technologies, Hanwha Q Cells, SolarCity Corporation, JinkoSolar Holding Co. Ltd, Suntech Power Holdings Co. Ltd., BHEL.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.

Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The solar electricity Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.

Opportunities For Companies In The solar electricity Sector: The report reveals where the global industry will put on most $ sales up to 2023.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

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Here is a list of reports from The Business Research Company similar to the Solar Electricity Global Market Report 2021:

Solar Electric Power Generation Global Market Report 2020 – By Technology (Photovoltaic Systems, Concentrated Solar Power Systems), By Solar Module (Monocrystalline, Polycrystalline , Cadmium Telluride, Amorphous Silicon Cells), By End-User (Residential, Commercial, Industrial)

Wind Electric Power Generation Global Market Report 2020 – By Connectivity (On-Grid, Off-Grid), By End-User (Industrial, Commercial, Residential)

Power Generation Global Market Report 2021: COVID-19 Impact And Recovery To 2030

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