Fossil fuels are the most widely used sources of power generation due to their natural abundance However GHG emissions torn fossil fuels are significant challenges for environmental 'stainability. The use of alternative energy savor, such as sole PV wind power and hydropower is necessary to reduce emission. Governments across the world support the adoption of sole FV systems through subsidies tax benefits. and incentive to consumers and produces. analysts have predicted that the crystalline silicon solar PV modules market will register a CAGR of almost 3% by 2022.
Favorable government regulations
The continuation of the policy will encourage manufacturing companies to invest in R&D to develop cheaper and more reliable technology to bring down the cost of solar PV systems. Many other countries worldwide ore formulating policies to promote the development of solar power technologies. One such notable example is the feed-in-traffic (FiT) policy formulated to encourage investments in technologies related to renewable energy.
Rise in alternative sources of energy
Many countries prefer using fossil fuels instead of renewable energy. This is because of the abundance of fossil fuels available to power their needs and generate electricity. The cost of establishing a renewable energy farm for power production is highly expensive. The power output from renewable sources is also not at par with the output from fossil fuels. Thus. the preference for non-renewable energy sources is high in the market.
For the detailed list of factors that will drive and challenge the growth of the crystalline silicon solar PV modules market during the 2018-2022, view our report.
The global crystalline silicon solar PV modules market is extremely concentrated. The market is in the growth phase, and the competition is expected to become less intense by the end of the forecast period. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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