PV Module in Solar Energy Market New Research Report Analysis, And Forecast

Solar energy is one of the most reliable and clean energy resources. PV module is the key component of solar based energy generation. Photovoltaic (PV) converts light energy into electricity with help of semiconductor materials. Photovoltaic system works on solar panels, each consist of solar cells, which generate electrical energy. PV module installations may be rooftop mounted, and ground-mounted. Costs for solar power are falling rapidly. Further, “grid parity” has been achieved in many countries, while new markets for the solar industry are opening in emerging and developing nations. Policy and regulatory incentives, over supply of installation components, and advancements in technology are driving down the reduction in cost. Solar PV module systems are helping in delivering clean, safe, affordable, and decentralized electricity to people.

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The PV module consists of components such as protective material, frame, enclosure and junction box. The most significant factors that led to the growth of PV module in solar energy market are dynamic changes of fossil fuel prices and higher demand for renewable energy source. The other factors that facilitate the growth of PV module in solar energy market includes higher investments in R&D, stringent government norms, and the support programs that is making installation of PV module more cost competitive. Introduction of net metering and power purchase agreements will further stimulate the business landscape. One of the key factor which is driving the growth of PV module of solar energy market is the shift in consumer preference. Environmental concerns over the greenhouse gas emissions associated with fossil fuel works in favor of solar energy market. The major restraining factor for PV module in solar energy market is the high capital investment. However, the government support programs making solar power more cost competitive.