TheÂ global market for solar power technologiesÂ should grow from $143.3 billion in 2018 to $286.3 billion by 2023 at a compound annual growth rate (CAGR) of 14.9% during the forecast period of 2018-2023.
The report is a compilation of the existing BCC Researchâ€™s reports in Solar energy market. The topics analyzed within the report include a detailed breakdown and analysis of the global markets for solar technologies by geography, technology and application. Additionally, included are a review of the different technologies from second generation and third generation solar technologies such as Organic Photovoltaics (OPVs)/Plastic Solar Cells and Multi-junction Photovoltaics (MJPVs) and Concentrating Photovoltaics (CPVs) which are currently in commercial use; a review of early-stage technologies that are beginning to see transfer from research to commercialization and major factors impelling and impeding the global growth. The scope of this report extends to sizing of the solar energy market and an analysis of global market trends with market data for solar installations at global level in 2017, which is being considered as the base year, 2018 as the estimate year and forecast for 2023 with projection of CAGR from 2018 to 2023. Market data provided in volume is cumulative installed capacity. The report also provides the value in $ millions corresponds to the volume presented in this report.
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The report focuses on assessment of solar energy technologies and an analysis of companies/manufacturers and the related system providers. Market dynamics such as drivers, restraints, and opportunities are also discussed in the report. The study forecasts the market value of the solar energy market for key technologies like PV and CSP.
â€“ 39 data tables and 38 additional tables
â€“ Industry analysis of the solar energy technologies
â€“ Analyses of global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
â€“ Detailed study of market driving forces, opportunities, restraints and other critical technological and regulatory updates that influence the current and future market dynamics
â€“ Regional dynamics of the solar energy market covering North America, Europe, APAC and other emerging economies from the rest of the world
â€“ Brief outlining of alternative solar photovoltaic technologies industry and its structure, and companies associated with providing these technologies
â€“ Examination of the competitive landscape and market share analysis of the key global players
â€“ Comprehensive profiles of market leading companies within the energy sector, including General Electric Company, Kyocera Corp., Mitsubishi Electric Corp., Schneider Electric, St. Gobain and Parker Hannifin Inc.
The solar technologies comprise a broad industry that is characterized by a high level of diversity, creativity and flexibility. The industry operates with a fairly high level of tolerance for experimentation and risk-taking which has, in the long term, resulted in overall growth and wider acceptance of the legitimacy of the industry. It includes technological solutions ranging from commercially viable and mass-produced thin-film products (second-generation) to experimental technologies (third-generation) that are in the early stages of being transferred from academic and private research institutions and consortiums to viable profit-seeking enterprises.
At their core, solar technologies are renewable energy technologies that in some way harness the power of the sun to create energy, mostly in the form of electric power, while leveraging new research and manufacturing techniques to produce cells and modules of materials other than crystalline silicon. In the context of this report, this energy generation has been limited to electric energy generation using solar PV and Thermal products.
Solar PV electric generation is typically thought of in the context of generating electricity for use in residential, commercial or industrial grid-tied or off-grid applications, and this will continue to remain a major application for alternative solar technologies into the foreseeable future. However, solar PV technologies are also employed for novel applications such as integration with portable products to extend battery life through charging with solar cells (electronics integrated photovoltaics, or EIPV), automotive applications, remote sensing and power, unmanned systems, and integration with buildings (building- integrated photovoltaics, or BIPV) through production of windows or roofing structures with built-in PV modules.
On the other hand, the Solar thermal (ST) technologies are products and power installations that capture, concentrate and/or absorb sunlight to provide thermal energy to a process or system. Solar thermal technologies are segmented into two major categories, solar heat (SH) and concentrated solar power (CSP).
The first category, SH, includes all technologies used for residential, commercial and industrial ST installations that do not concentrate sunlight and provide low-grade heat to various heating systems. The following solar thermal technologies are included in the scope of this report under the SH category: unglazed solar collectors, flat-plate solar collectors, evacuated-tube solar collectors, integral collector storage, glazed solar air collectors and transpired solar air collectors. Because all SH installations must include a component that collects solar radiation, solar thermal collectors and absorbers provide excellent indicators of the market performance and penetration of SH systems.
Able to provide thermal energy for steam generation and other high-temperature concentrating solar power processes, CSP technologies have benefitted from a substantial increase in public and private sector interest for renewable energy technologies. CSP technologies considered in this report include parabolic trough solar collectors, power tower solar collectors, parabolic dish solar collectors and Fresnel reflector solar collectors. These four ST technologies utilize specific designs to concentrate sunlight onto a receiver to raise heat transfer fluids (HTFs) or working fluids to temperatures well more than 212Â°F and are used primarily at power generation facilities and sparingly within the industrial or utility heating sector. The parabolic trough system is the most used and commercially mature technology. The others are mostly used for centralized on-grid electricity and distributed generation.