Global solar energy market size is likely to exceed USD 140 billion by 2023.

1
solar energy market Insights
https//www.gminsights.com/industry-analysis/solar
-energy-market
2
Global Market Scenario Of solar industry
growth

• Global solar energy market size was estimated at
  over USD 65 billion in 2015 and is likely to
  exceed USD 140 billion by 2023.
• Cumulatively, more than 178 GW of power was
  installed in 2015 and is estimated to reach more
  than 600 GW over the forecast period, including
  both photovoltaic and concentrated thermal power.
  U.S. solar energy market size is expected to
  witness approximately 40 GW cumulative capacity
  by the end of 2016.
• Rising population coupled with increasing non
  conventional energy prices are likely to drive
  market growth in Asia Pacific. China solar energy
  market size was dominant and accounted for more
  than 10.8 GW installations, followed by Japan
  with 9.7 GW installations in 2015.
• UK contributed more than 2.4 GW to the Europe
  power installation market in 2015, followed by
  Germany and France. Middle East and Africa is
  expected to grow at as significant rate increase
  in electricity prices and government subsidies
  are likely to be the key growth factors in the
  region.

3
Continue.....

• This energy can be segmented into photovoltaic
  and concentrated thermal. Photovoltaic (PV)
  market size was estimated around 40 GW in 2015.
  Solar energy market trends include an estimated
  shift towards off-grid installations in some
  countries, where a large percentage of the
  population does not have an access to a national
  grid. Concentrated solar thermal market size is
  estimated to reach more than 25 GW installations
  during the forecast period.
• Rising environmental concerns such as greenhouse
  gas emission accompanied by increasing energy
  consumption is leading industries towards more
  sustainable and cost effective energy resources.
  These factors are likely to positively drive the
  solar energy market growth.
• Adoption is increasing due to natural resource
  depletion and increasing environmental
  consciousness. It is a reasonable fossil fuels
  substitute as well as an inexhaustible and
  affordable technology with huge long term
  benefits. More than 39 of energy is extracted
  with the help of coal which causes environmental
  pollution.

FRequest Table Of Contents _at_ https//www.gminsight
s.com/request-toc/upcoming/264
4

Latest Research Report On solar energy
Market Research Report_at_ https//www.gminsights.co
m/industry-analysis/solar-energy-market Requ
est Table Of Contents of this report_at_
https//www.gminsights.com/request-toc/upcoming/2
64
5

• Photovoltaic energy is preferred over
  concentrated solar due to its high utility
  Europe was the major contributor in 2015.
  Manufacturers are shifting from multicrystalline
  to monocrystaline solar cells owing to its high
  efficiency, compact design and durability.
  Concentrated thermal technology is less popular
  because it requires direct sun radiation rather
  than diffuse light, and is not economical for
  small installations.
• Applications are segmented into commercial and
  residential. In the commercial segment, major
  installations were noticed in hotels, hospitals,
  and offices. Residential applications include
  attic fans, batteries chargers, pool heaters,
  and. water heaters. Rising non-conventional
  resource prices and increasing government
  subsidies such as tax rebate to individuals
  generating power from this energy is likely to
  drive growth.
• Initial cost during installation is anticipated
  to be a hindrance for industry growth. However,
  low operating and maintenance cost in long run is
  anticipated to favor the solar energy market
  price trend.

Browse this report _at_ https//www.gminsights.com/in
dustry-analysis/solar-energy-market
6
Regional Analysis

• The technology is beneficial on account of
  several incentive schemes such as feed in tariff
  (FIT), tax rebates for renewable energy usage,
  and subsidies from government. FIT is a mechanism
  designed to drive investment in renewable energy
  technologies. It has provisions such as
  guaranteed grid access, long term fix price and
  reducing contract prices for further new
  installations. PV system market price trends have
  declined of around 75 in less than a decade.
• https//www.gminsights.com/industry-analysis/solar
  -energy-market

7
Stay In Touch You can visit us at
www.gminsights.com
Thank You