Global Solar Energy Market Is Projected To Reach $223 Billion By 2026 With A CAGR Of 20.5% From 2019 To 2026

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Jul 20, 2021, 08:45 ET

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PALM BEACH, Fla., July 20, 2021 /PRNewswire/ -- Solar energy is the radiant energy emitted from the sun, which is harnessed by using various technologies such as solar heating, photovoltaic cells, and others. It is an efficient form of unconventional energy and a convenient renewable solution toward growing greenhouse emissions and global warming. The growth of the solar energy market is driven by increase in environmental pollution and provision of government incentives & tax rebates to install solar panels. In addition, decrease in water footprint associated with solar energy systems has fueled their demand in power generation sectors. The demand for solar cells has gained major traction owing to surge in rooftop installations, followed by increase in applications in the architectural sector. Furthermore, the demand for parabolic troughs and solar power towers in electricity generation is expected to boost the demand for concentrated solar power systems. A report from Allied Market Research said that the global solar energy market was valued at $52.5 billion in 2018 and is projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026. Active Companies in the markets today include Green Stream Holdings Inc. (OTCPK: GSFI), First Solar, Inc. (NASDAQ: FSLR), Enphase Energy, Inc. (NASDAQ: ENPH), SunPower Corp. (NASDAQ: SPWR), Sunrun (NASDAQ: RUN).

The Allied Market report said: "The competition has significantly increased among manufacturers with the development in photovoltaic-based power distribution systems. Moreover, the price of solar modules differs significantly in regions of Europe and Asia-Pacific, as the market is demand oriented. In addition, reduced profitability of module manufacturers and market acquisition stress lead to decline in the prices of solar panels. Furthermore, fluctuating price of silver, which is a major raw material in solar module, drives the demand for solar panel installations and assist the solar energy market growth. The development of photovoltaic (PV) storage systems is essential to increase the ability of PV systems to replace the existing conventional sources. With the rise in demand for PV installations, the adoption of storage grid is projected to increase, which fuels the demand for lithium ion-powered battery for solar energy storage and increase the solar energy market growth."

Green Stream Holdings Inc. (OTCPK:GSFI) BREAKING NEWS: Green Stream Holdings, Inc., Plans Fractional Solar Energy Ownership Platform Using Blockchain Technology - Green Stream Holdings Inc. ("the Company") ((https://greensolarutility.com), has developed a program to offer a portfolio of tokenized solar panels, combined with a user-friendly, blockchain-based platform for facilitating both long and short term participation. The Company is an emerging leader in the solar utility and finance space. Projects include the rapidly growing urban gardening sector with solar greenhouses dedicated primarily to rooftop farming, and remediation and conversion of old shipping/cargo containers into inexpensive greenhouses for urban and inner-city neighborhoods and Host Sites for its' Community Solar Program.

CEO James DiPrima stated, "Our new business model seeks to capitalize on the increasing local and international investment movement in the clean energy market. We intend to make purchasing solar energy assets more accessible by decreasing traditional barriers to entry through the tokenization of solar panels and creating a marketplace on our platform that allows coin buyers to stake their token on various solar arrays. We will provide the expertise, insight, tools and services necessary for our participants to make value-add, informed decisions throughout the lifetime of their participation. Our array of services will include inspecting and gaining valuations of properties and providing stock market type indicators on tokenized solar panels, to completing the transaction by ensuring security and transparency through the blockchain engine using smart contracts and putting in place the correct legal documentation and framework in case of multiple owners."

He further stated, "we anticipate the Green Rain portal will become a one-stop solution for many global or local solar panel transactions from a laptop or smartphone. Through our initial token offering, we will aim to launch this ambitious project through the acquisition and tokenization of our first solar panel properties. We expect that token holders to be able to utilize their tokens on our platform to participate in exciting solar projects that they may not otherwise have access to individually. We all may benefit from returns from rents, price appreciation and profits generated from the sale of properties."

He concluded, "The GREEN tokens are planned to be generated on the Ethereum blockchain. Only those holding a GREEN token will be granted access to the Green Rain platform. Fiat and other cryptocurrencies will not be allowed to be used on the Green Rain platform." CONTINUED… Read this full release for Green Stream Holdings at: https://www.financialnewsmedia.com/news-gsfi/

Other recent developments in the markets include:

First Solar, Inc. (NASDAQ: FSLR) has invested $11 million in efforts to revitalize American communities and bridge racial gaps in health, wealth, and opportunity. As part of the initiative, the company has recently purchased $10 million in Impact Notes from the Local Initiatives Support Corporation and made a $1 million Transformational Deposit in the HOPE Credit Union.

"LISC and Hope Credit Union are doing a tremendous job at addressing inequality and, as America's solar company, we're proud to be supporting their mission. By working with companies like ours to reallocate cash holdings, they're creating capital for underserved communities and powering sustainable and inclusive economic change," said Mark Widmar, chief executive officer, First Solar. "We hope that these investments, which are in line with our commitment to socially- and environmentally-responsible solar, will help communities across America."

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world's leading supplier of microinverter-based solar-plus-storage systems, recently announced the launch of its Encharge battery storage system in Germany, the product's first expansion into a market outside of the United States.

The Encharge battery storage system offers configurations ranging from 3.5kWh to 42kWh, along with the option to upgrade and expand through the lifetime of the system. The introduction of battery storage to Enphase's existing microinverter business in Germany will help meet installer and homeowner needs for a safe and reliable all-in-one solution. Homeowners can also use the Enphase Enlighten® mobile app to intelligently manage their solar energy in Self-Consumption Mode to minimize the use of electricity from the grid, which saves on energy bills.

Sunrun (NASDAQ: RUN), the nation's leading home solar, battery storage, and energy services provider, recently announced its partnership with Ford Motor Company (NYSE: F) to serve as the preferred installer for Ford Intelligent Backup Power, debuting on the all-electric F-150 Lightning. Sunrun will facilitate easy installation of the 80-amp Ford Charge Station Pro and home integration system.

With Ford Intelligent Backup Power, enabled by the available 80-amp Ford Charge Station Pro and home integration system, the F-150 Lightning can serve as a reliable home backup energy source by dispatching power to the home during a power outage event.

Through this partnership, customers will also be provided with the opportunity to install a solar and battery system on their home, enabling them to power their household with clean, affordable energy and charge their F-150 Lightning with the power of the sun.

SunPower Corp. (NASDAQ: SPWR), a leading solar technology and energy services provider, and Woodside Homes, one of the top 30 homebuilders in the U.S., recently announced that Woodside Homes is now offering SunPower® solar and SunVault™ battery storage systems to owners and buyers in all its Northern California communities. As grid shortages and planned blackouts continue to impact Northern Californiaresidents, the companies are responding to soaring demand for more sustainable and reliable energy. SunPower is Woodside Homes' exclusive solar and storage partner in the region.

Demand for home energy storage is soaring across the U.S.; the residential market installed 110.2 MW of storage capacity in Q1 2021 according to the latest Wood Mackenzie report. This trend is evident in the new homes market, with nearly 1 in 3 Woodside Homes customers now requesting to add energy storage to their home.

To answer this strong demand, Woodside Homes announced that it will make SunVault a standard feature in every home in its newest subdivision coming soon to Placer County, Calif. All 128 homes in Brady Vineyards will come with rooftop solar and a 13 kWh SunVault storage system installed as a standard feature. SunVault will be designed to provide power during grid outages to essential loads, including lighting, plug loads and kitchen appliances. Homeowners can see additional electricity bill savings by using their stored energy during peak times when utility rates are the highest or selling excess energy back to the grid. New homes at Brady Vineyards are expected to start selling in the spring of 2022.

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