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A tremendous shift towards green energy directs the global market to adopt solar panels with less usage of fossil fuels and higher reduction in carbon emissions.
Jun, 06
2022

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A tremendous shift towards green energy directs the global market to adopt solar panels with less usage of fossil fuels and higher reduction in carbon emissions.

 

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Solar panel made out of photovoltaics cells that helps in convert of sun’s energy into electricity. PV cells is created and made in layers which is silicon each layers have different properties, which is energized and as soon as it get hit by photons from sunlight, electricity is generated. Solar panel produces a direct electricity. Some of the advantages of solar panels are it is installed in wide range of places. It can also be installed in rooftop and support local biodiversity. Solar panels don’t create noise pollutions while they create electricity, thus this us to makes install in large space and requires lot of spaces. They are made from silicon sheets and there is no danger of leaking or emission of any toxins fumes.

There are three types of solar panels mainly monocrystalline, polycrystalline and thin-film solar panel. Each panel has its own features. Monocrystalline solar panel is single pure silicon crystals. These are most space-efficient and longest-lasting among solar panels. However it is expensive and lot of silicon is used to manufacture. It has efficiency rate of 15%. Polycrystalline solar panel is used to make different silicon crystals which is through melting into square mold. This less efficient in terms of conversion of heat and space. They have low level of heat tolerance. Thin film solar panel is made of different particles and therefore this solar panel is very less effective, requires lot of space to generate electricity. Thin film solar panel also has variations, cadmium telluride, amorphous silicon and copper indium gallium selenide. Cadmium is basically low-cost and is the lowest of carbon footprint. If it is recycles then it becomes more expensive. Amorphous silicon requires less silicon and therefore it produces low cost at the expenses of efficiency. It is used in places which have use of less power. Copper indium gallium selenide, this panels is a layer of copper, gallium and selenium. This is high efficient among the thin panels but not as efficient as crystalline silicon panels. This thin film solar panel is in less demand they have less price as compared to silicon panels.

Another photovoltaics is there which is concentration PV cells, it also focuses into solar cells by using a mirror or lens. PV materials becomes more efficient when sun light is more concentrated in one single places, therefore high amount of solar power can be generated. However this have manufacturing cost is high and makes its prices to be high. In order to make solar panel more efficient and expand it life span we have use different techniques which helps solar panel more efficient and better. Therefore the solar panel coating was introduced and it has various types. Solar panel coating makes solar panel more efficient and light transitivity and high absorption capacity and these makes reduction of reflection. In result there is less loss of energy. Government have made policies and state as well to introduce a better panels, this will make a huge demand in future for solar panels growth. Manufacturers initially faced lot of problems in investment and made very less return since very few knew the demand for solar panel and its future use. Now government is also supporting and other investors are also supporting. These has made huge demand for solar panels. To make solar panel efficient, solar panels have various types, Anti-reflective, hydrophobic, self-cleaning, Anti-soiling and anti-abrasion. These types coating have made solar panel more efficient major growth have taken place. The uses and benefits of those coating are, Anti-reflective increases the amount of light transmitted through surfaces panels and therefore it increases the efficiency.

Hydrophobic allows water to flow more easily and water is not in the surface panels thus makes it more efficient. Self-cleaning is basically it stops the pollution to be there. This makes coating anti-dust and prevents the growth of mould and when there is little rain then it automatically cleans itself. Different types of solar coating is also introduced which is Nano-coating. This also improves the efficiency. Anti-reflective coating, these also reduces the reflection and glare by uncoated solar panel. This is usually done by reducing the difference in refractive index between air and glass. Hydrophobic coating is basically these also resist the growth of mould, prevents from dust, and dirt.Market size for solar panel and solar panel coating is expected to be huge in forecast period. The current market size is around more than USD 200 Billion. There has been tremendous increase in revenue this solar panel market due to the change in policies by government and policies drafted. Several companies and investors also have invested a lot. The main reason for the growth and demand of solar panel is because of environment concern. Many of the countries hugely polluted and environment concern has become major factor. To reduce the emission of carbon and limit the use of fossil fuels. Government is giving incentives for installing solar panel. this has made huge growth and increase in the economic for solar panel. People are slowly shifting and have started using solar power. In recent times it has been noticed that major demand was from commercial use. For End-user of solar panel there are three types, commercial, Industrial and Residential use.

Solar panel has got market region and those are North America, Europe, Asia-pacific, South America and Middle-east and Africa. Under these countries are divided and the dominating for various products and market share is done. According to the region wise, the dominating region with its market share is Asia-pacific. There are many countries in Asia-pacific and due to more compititon they have huge market share. Countries like China, India, South Korea and Japan. In 2016 its market share was around more than 50% share and now for the forecast period it expected to dominate with its market share. Second dominating for solar panel with market size is North America. In 2016, market share was around more than 20%. Countries in North America are USA and Mexico are the dominating countries. In the middle-east and Africa, the dominating country is UAE. Majority share is comes from UAE which is 58% and the rest is from other countries like Egypt and Saudi Arabia. South America has market share which is less than 1% in 2016. But recent times there is rapid installation for solar panel and therefore its revenue and market share is increased. Europe has got more than 10% of market share, countries like Germany and Netherland have contributed a lot revenue for this region. As discussed, solar panel is segmented into three types of panels. The most demanded for the solar panel in entire region is polycrystalline solar panel. Polycrystalline solar is basically the multi-layered panel, it is made by pure melting and converted into single panel. This panel is more affordable and available in abundance. These is also more efficient and its efficiency rate is around 15%. The market share for this panel was around more than 45% in 2016 and now it is forecast period will be more than 50%. Monocrystalline solar panel is second most demanded and has market share which was around more than 40%. Now it has forecast period for 2027 which is more than 40%. Thin film solar panel is also demanded but this panel requires a lot of space for installation and generates less amount of solar power.

Each region has got their own strength. North America has market size of around more than USD 11.41 Billion in 2016 and now it I forecast period it will be around more than USD 55.27 Billion. In this region it is installed in huge numbers which is to be approximately 255,000 tonnes homes and it can produce a huge solar power. Segregating the market for North America then, USA stands on the top which has got more than 90% of share. In this region solar panel has been installed of 37363 MW as of 2017. The largest solar project was in Sarnia solar which is 80-MW located in Canada. Panel types and majority share is from polycrystalline solar panel which is around more than 45% in 2016 and now in forecast period it is more than 50%. End user has majority share from commercial. The share is around more than 30% and in forecast period it will be more then 30% only. Solar panel coating also has huge market size. In 2016 it was more than USD 149 million and now in 2027 t has been forecast to be USD 780 Million. The market share for solar panel coating is divided into coating types. Coating has 5 types. The majority revenue generated is from anti-reflective which has got more than 25% in 2016 and for 2027 the forecast period it is expected to be more than 30%. In North America, the majority of the revenue comes from USA. And in USA the most demanded solar panel is polycrystalline due to its affordability. End user also has most demanded for commercial uses. Companies in this region are Hanwha Q cells, Jinko Solar, Silfab Solar, Mission Solar, Solaria, Ormat Technologies, First Solar Inc. NextEra Energy, SolarEdge Technologies, SunivaInc, Global Solar Energy Inc, Trina Solar, Real good Solar, SunPower Corporation.

Europe region is also in huge demand for solar panel and solar panel coating. It is expected to grow at rapid pace in coming years. The solar pane installed in the region is around 162.7GW and soon it is expected to reach 327.6 GW of solar panels installed. The cost of the production have decreased by 75% and it continued to expand. Therefore solar power is becoming more affordable than other technologies. Hybrid technologies will be used to install across continents and boost the deployment of solar panels. In Europe region, the market share for Germany has got high, which is around more than 20%. Other countries are UK, France, Netherland, Sweden, Italy and Spain. In all of the region the main reason for increase in demand for solar panel is due to fall in prices and governments are giving incentives and change of policies have made huge growth. Therefore the panel type also in this region the majority of the revenue is generated from polycrystalline solar panel, most share is from this panel. Other solar panels have less market share compared to this polycrystalline solar panel. By end-user also the majority of comes from commercial use only. Commercial end-user have been dominating from early. Solar panel coating has also huge market share which around USD 60 million and it is forecast period will be more than USD 400 Million. Companies in this region are Hanwha Q cells, REC groups, Kioto Solar, VictronEnregy, Lorentz, Atersa group, MegasolEnregy, Luxor Solar, Solarwatt, IBC Solar, Aleo Solar, Sunerg Solar.

Asia-pacific region is the global leader and has been dominating from early. If we see the market size for this region is around more than USD 25 Billion and now it in forecast period the market size is to be USD 100 Billion. China is the most dominating in this region, it has installed more than 177.5 TW-hours. Over the rising environmental concerns and economical benefit, it is forecast to be more demand for solar panels. After China, India is the second most demanded for solar power in this region. Here also it has been noticed that polycrystalline is the most demanded solar panel in this Asia-pacific region. The market share for polycrystalline solar panel is more than 40% and in forecast period also it will be in huge demand with majority share. Solar panel has also end-user has most demanded is for commercial use. Commercial in basically where most people have made to install their own and this has made in demand. Solar panel coating is used to make solar panels more efficient by adding to panels it makes resistant and increases the life expectancy. In this region also the most demanded solar panel coating is from Anti-relfectie coating. Anti-reflective helps absorb more energy and reduces the loss of heat. Some companies in this region, which have been dominating are 3m company, koninklijke DSM, LONGi Green energy, Jinko solar holding Ltd and JA solar technology Co. Ltd, Risen energy, Azure Power, Enterprize Energy, Pattern Group, Adani Group and Invenergy.

South America is one of the most developed region in the world. The main growth is due to fall in price of solar panels and government are giving incentives. Therefore with decrease in cost for solar power have made increase the demand for solar power. The market size for this region was around USD 0.48 Billion in 2016 and now it has been forecasted to be USD 6.21 Billion. Region has aimed to make and achieve zero-emission to strengthen its national commitment and make in use into long term use of renewable energy. Brazil is the dominating country in this region. It has experience irradiation of 1600-2250 KWH. It has made many several projects. It has introduced forst certified bond for solar energy. Brazil has market share of around more than 10% in 2016 and now in forecast period it will dominate in this region. Initially, Chile dominated in this region with more than 80% market share. Solar panel has three types and most market share holding is by polycrystalline solar panel. it has been continuously dominating in this panel types due to its availability and affordability. End-user also has more share by commercial use in ths region due to use in household and homes. Solar panel coating helps reduce maintenance and boost efficiency in solar panel. Therefore the solar panel has majority share of anti-reflective in this region. Anti-reflective has got more efficiency and absorbs more light to covert power.Companies in this region are Enel green power S.p.A, Trina Solar Limited, Atlas Renewable Energy, Sonnedix power holding ltd, Candian solar Inc., SunEdison, Solarpack, EOSOL, Avenir Solar Energy, First Solar, Rijin Capital.

Middle-east and Africa region has slow development for solar panel. These places were not focused there few places have been installed. Companies have made less investment in this region. But recently lot of new technologies have been introduced and rapid growth is taking places.Some of the key trends for increase in clean electricity to increase in generating for electricity are Clean energy, which includes renewables, such as solar and wind power, as well as alternative fuels, including waste-to-energy and nuclear, accounts for only a small proportion of electricity generation in the region. Rooftop solar offers the benefits of modern electricity services to households that had no access to electricity, reducing electricity costs on islands and in other remote locations that are dependent on oil-fired generation, as well as enabling residents and small businesses to generate electricity. Saudi Arabia has installed more than 58.7 GW of solar renewable energy and it has still some of the most exciting opportunities for its region and states for many projects to be developed. The most dominating country in this region was South Africa and slowly other countries are also developing rapidly and surpassed this country which is Israel. There is huge opportunity for growth. These region is in developing stage and continuous investment is done. Solar panels also have majority share of polycrystalline solar panel. Polycrystalline is silicon wafers and therefore it has more efficiency than thin film. It is also more affordable and available in abundance. This has made to be in dominating panel types. Ever in end-user also the most demanded is in commercial use. This will be leading in the coming years also. Solar panel coating is because of solar panel. Coating is done to improve the life expectancy of solar panels. The most demanded is Anti-reflective solar panel coating. Anti-reflective helps in decrease the loss of heat and increase the absorption of light. Companies for this region are A.R.E Group, Algerain PV Group, Aton Enerji, Copex solar and Cleanergy.