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25 Mar 2015 10:03:44

Solar Panel Market Segment Forecasts up to 2020, Research Reports- TransparencyMarketResearch

The growing concern for global warming resulting in various environmental issues has shifted the focus of the nations towards solar power plants. The rising inclination towards the solar plants is expected to contribute to solar panel market development.

The function of a solar panel is to convert solar energy from the sun to a usable electrical energy. A solar panel is composed of several arrays of silicon-made photovoltaic solar cells. Such solar cells produce electrical energy from the solar rays using photovoltaic effect. The silicon in the solar cells absorbs the photons and raises an electron to a higher energy state. The high-energy electron is then passed through an external electric circuit connected to the panel and electricity is produced. The current produced in the circuit is of direct nature and hence termed as direct current (DC). An inverter is used to convert the resulting DC power into an alternating current (AC) power which is further supplied to the utility grid and used by the consumers.

Get Full Report: http://www.transparencymarketresearch.com/solar-panel-market.html

The key driver for the solar panel market emergence is the clean electricity production capability of the solar panels. The increasing solar panel popularity is also attributed to the ongoing worldwide depletion of the conventional energy resources. Furthermore solar panels directly convert the solar energy into electricity without using any pumps as in solar thermal plants. Hence, cost saving is assured using solar panel systems. Thus, all such factors tend to promote solar panel market growth in the forecast period. The restrain in such market development are the high upfront cost of the solar panels. In addition, the lower capacity utilization factor of the solar panels as compared to the conventional fuels such as coal is also expected to intervene in such market progress.

The global solar panel market is expected to achieve significant benefit in the future. The Asia Pacific is expected to lead the global solar panel market growth in the projected period. China and India, in particular, are likely to be suitable for such market improvement with strong support from their government coupled with growing domestic demand for such technology. In North America, strong growth is assumed from countries like the U.S, Canada, and Mexico. The policy measures in such nations are anticipated to result in solar panel market enhancement in the forecast period. In rest of the world Japan is probable to dominate such market evolution as a result of feed-in-tariff schemes related with solar power installation. Europe, which earlier topped the global solar market, is cautious of its investment in such technology due to its slow recovery from its economic downturn. Hence, market growth is expected to be moderate in such region.

The solar panel market is segmented on the basis of two types of cells used, that are, thin-film and crystalline cells. Each cell type is further sub-segmented on the basis of composition. The thin film cell can be classified into amorphous silicon and polymer organic cells. The three types of crystalline cells are mono-crystalline silicon, poly-crystalline silicon and poly-crystalline band cells.

Some of the key players in solar panel market are 1st Sunergy, Yingli Green Energy, Everbright Solar, Innergy PowerAqua Solar, DM SolarAuxin Solar, and Global Watt among others.

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