Global Solar Electricity Market Outlook, Opportunities And Strategies – Includes Solar Markets
Learn about the global solar electricity market through The Business Research Company, which provides information on solar electricity market size, solar electricity market drivers and restraints, solar electricity market players, the COVID-19 impact on the solar electricity market, and more.
The solar electricity market is expected to grow at a CAGR of 21.8% to nearly $125.50 billion by 2026. Also, the global solar electricity market size is expected to grow to $ 357.10 billion in 2031 at a CAGR of 23.3%.
There is a niche among industrial and commercial establishments that are keen to go solar on their rooftops. Many companies are now installing rooftop solar power plants as a form of corporate social responsibility (CSR) activity. The driver for this segment is more the aspiration to go green rather than the economics.
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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 electricity. The electricity from solar electricity is produced by the conversion of solar electricity 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.
By Technology: Photovoltaic Systems, Concentrated Solar Power Systems
By Solar Module: Monocrystalline, Polycrystalline, Cadmium Telluride, Amorphous Silicon Cells, Others
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. Among these regions, Asia Pacific was the largest region in the global solar electricity market, accounting for 47.0% of the global market in 2021.
There is an increased adoption of digitization and artificial intelligence which is likely to cause major disruption in the electricity sector as governments seek to transition away from fossil fuel. This increasing adoption will play a pivotal role in the transition and companies and governments will need to embrace such technologies.
TBRC’s solar electricity market report covers:
Major Market Players: Spic Solar, Enel Spa, Canadian Solar Inc., Engie, Adani Green Energy Limited
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 (2016-21) and ten years forecast (2022-2026-2031)
The Solar Electricity Market Report 2022 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, leading competitor revenues, profiles and market shares.
TBRC’s 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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