Global Solar PhotoVoltaic Industry Report 2023-2030: Growth Opportunities Across the Value Chain - PV Cells, Modules, Inverters, and O&M

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Apr 01, 2024, 05:45 ET

DUBLIN, April 1, 2024 /PRNewswire/ -- The "Global Solar PV Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

This study assesses growth opportunities for the global solar PV market and uses proprietary modeling to estimate its revenue potential. The model uses estimated annual capacity additions based on countries' individual and regional targets for 2030 and other secondary resources.

Global climate change concerns have spurred a flurry of investments in renewable energy sources and other decarbonization initiatives. Efforts to focus on renewables were initiated at the 2016 COP21 in Paris, which led to countries setting renewable energy targets to achieve by 2030 in an attempt to mitigate global warming. More recently, at COP26, more than 100 countries pledged to cut methane emissions by 30.0% from 2020 levels, which would directly impact the energy sector, considering oil and gas is the main source of methane emissions, further spurring the transition to other renewable sources, such as solar photovoltaic (PV).

Solar PV is an advantageous option in comparison to the various renewable sources available, being a low-investment, low-maintenance option characterized by the year-round abundance of the energy source and ease of accessibility when compared to wind, which requires sizeable resources, including land and investment. Advancements in storage technologies have strengthened the case for PV, with variability in production having been a major source of concern in the past.

The study also presents market trends that will define the industry's growth, major participants across the value chain (PV cells, modules, inverters, and O&M), and the competitive environment. Where applicable, market potential refers to the estimated revenue opportunity size between 2022 and 2030 available for interested stakeholders to capitalize on. Key countries in each region are profiled, detailing their market potential.

Key Topics Covered:

Key Market Trends

The Push for a Domestic PV Supply Chain is Strong
Chinese Companies Continue to Dominate Polysilicon
Despite Some Diversification in Ingots and Wafers, China Remains Dominant
Modular Production Outside China is Rising
Corporate Renewable PPA Demand Continues to Grow
As Manufacturers Focus on Increasing Capacity and Lowering Costs, an Inverter Evolution (Rather Than Revolution) is Taking Place
Efficiency Gains Drive Growth of Advanced Solar Trackers
By 2030, Nearly 700 GW of Solar PV Will Have Trackers
Advanced Servicing Propositions are Becoming an Increasingly Crucial Component of Solar PV Maintenance Strategies
Revamping and Repowering are Growing as Assets Age
P2P Trading is Growing as Intelligence Increases
Solar PV Sustainability Means That Manufacturers are Under Pressure to Minimize Emissions and Ensure Material Reuse
PV Recycling Reduces the Requirement for Virgin Materials and Minimizes Landfilling
Agri PV Developments Mean Crops and Solar Can Coexist
New Materials are Being Deployed Commercially
Efficiencies are Constantly Increasing
Asia is the Future Hotspot for Floating Solar PV (FPV)
FPV, in Combination with Offshore Wind, Forms Part of the Energy Islands of the Future
Solar is Being Increasingly Incorporated in Urban Environments
Advanced Building-integrated PV (BIPV) is a Leading Proposition

Growth Opportunity Universe

Solar Value Chain Participation
Solar PV Plants for Green Hydrogen Production
24/7 Renewable PPAs
Specialist O&M Service Offerings
Solutions for Urban Solar and Off-grid Deployments

Growth Opportunity Analysis

Forecast Assumptions
Annual Capacity Addition Forecast by Region
Annual Capacity Addition Forecast by End-user Type
Cumulative Installed Capacity Forecast by Region
Cumulative Installed Capacity Forecast by End-user Type
Revenue Forecast by Region
Revenue Forecast by End-user Type
Revenue Forecast Analysis by Region
Key Findings
Scope of Analysis
Geographic Scope
Segmentation
Key Value Chain Competitors
Key Growth Metrics
Distribution Channels
Value Chain
Growth Drivers
Growth Restraints
Impact of the Inflation Reduction Act of 2022 (IRA) on Solar Investments
Impact of the EU Green Deal Industrial Plan (GDIP), Australia's National Reconstruction Fund (NRF), and India's Production-linked Investments Scheme (PLIS) on Solar Investments

Strategic Imperatives

Why is it Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top 3 Strategic Imperatives on the Solar Photovoltaic (PV) Industry
Growth Opportunities Fuel the Growth Pipeline Engine

For more information about this report visit https://www.researchandmarkets.com/r/4horp2

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