Report Code: A15990 | Pages: NA | Jul 2023 | 1059 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Solar Power Products Market
Request Now !Solar power is one of the most reliable and clean energy resources and proved to be a viable alternative to fossil fuels that are currently responsible for polluting the environment and contributing to global warming. Solar power is generated through various technologies like solar PV, solar thermal, concentrated solar thermal, and concentrated PV. Â The basic unit of the electric technology is a photovoltaic cell, which generates electricity by exploiting the photovoltaic effect, where under certain conditions electrons flow through semiconductor materials when exposed to sunlight. The utilization of solar panels has increased across the globe as they do not lead to any kind of pollution and their installation helps in combating the harmful emission of greenhouse gases. The governments have taken several initiatives in the form of offering subsidies, financial assistance, incentive to manufacturers, power producers, and current customers, which is expected to lead to the expansion of the market. High installation and maintenance cost are the restraining factors for the market.
COVID-19 Impact AnalysisÂ
Top Impacting Factors
In recent years, the solar power products market witnessed an enormous amount of growth. The most important factors that stimulate growth of the solar power products market include unpredictable fossil fuel prices, need for dissociation of dependence on fossil fuels, imports from areas of political volatility, and environmental concerns of a greenhouse gas emission associated with fossil fuel use. Many governments have set clean energy targets to achieve results by switching over to renewable energy such as the solar. The governments have also partnered with several nodal agencies at the central and state levels for the installation off grid PV systems. Subsidies are made available to customers to increase the installation of grid connected rooftop photovoltaic.
Market Trends
Key Benefits of Report
This study presents the analytical depiction of the solar power products industry along with the current trends and future estimations to determine the imminent investment pockets.
Questions Answered in Solar Power Products Market Report
Solar Power Products Market Report Highlights
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