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Solar Tracking Devices to Witness High Growth Owing to the Rising Electricity Prices Globally

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Published on : Jan 15, 2016

Solar trackers are widely utilized to shift the photovoltaic panels in the direction of the sun to utilize maximum accuracy to collect sunlight. These devices enable the solar modules to stay in the best and accurate position to accumulate and store maximum energy from the sun. The use of solar tracking technology enables the solar panels to follow the changing direction of the sun and increase the production of electricity. The solar trackers are joined to the solar panels to alter their positioning against the daily track of the sun throughout the year as the seasons change.

The bad effects of global warming on earth have extensively increased the demand for green energy, which is produced from renewable sources including solar energy. The concept of solar tracking system has proved to be the best solution for the generation of sustainable power. As a result, the global market for solar tracking devices has developed potential opportunities in untapped economies in the next few years.

The global market for solar trackers is majorly driven by the tremendous increase in electricity prices across the globe. The solar tracking devices are widely used to boost the capacity and efficiency of the existing solar systems. The use of solar trackers that are attached to the solar panels makes sure that the operational cost of the existing solar system exhibits to be economical in the long ride. In addition, the rising initiatives taken by the government for Feed-in-tariffs and incentive schemes is also a major factor boosting the demand for solar tracking devices in the coming years. Moreover, several energy programs have encouraged many players to expand their horizon. On the other hand, the harsh weather and high capital intensive technology are some of the major factors that are expected to hamper the growth of this market in the next few years.