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Global Solar Photovoltaic Market Sets Foot on Strong Growth Supported by Financial Incentives and Reduced System Cost

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Published on : Mar 07, 2018

ALBANY, New York, March 07, 2018: The global solar photovoltaic market has been gaining a good impetus on the back of large-scale installations driven by tenders and small-scale installations by feed-in tariff. This scenario has been observed to be particularly true in the U.K. and Germany and partly in France and China. A group of analysts have given out more predictions in a report added by ResearchMoz.us bearing the title “Solar Photovoltaic (PV) Market, Update 2017-Global Market Size, Average Price, Module Market Share, and Key Country Analysis to 2025.” The analysts have covered different countries including the Republic of Korea, South Africa, Japan, India, Canada, Brazil, and the U.S.

In the U.K., the installation of solar photovoltaic system has been anticipated to be increased due to the rising acceptance of contract for difference (CFD) and decreasing cost, besides feed-in tariffs. France, however, could have a different scenario in terms of growth. Here, financial incentives besides the presence of tenders have been expected to set the tone for a valuable increase in the number of installations. More opportunities could be in the offing as new sites such as solar roads are projected to be upcoming segments for the installation of solar photovoltaic systems. On the other hand, the industrial and commercial installation of the systems could be promoted by self-consumption tenders.

The U.S. solar photovoltaic market has been forecast to ride on other factors such as grants provided through the Rural Energy for America Program (REAP) and utility-scale projects promoted with the help of renewable portfolio standards (RPSs). 

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However, there could be a few similar growth factors that also support other geographies of the world solar photovoltaic market: for instance, reduced system cost and addition of solar photovoltaic systems using financial incentives. In Canada, the global market has been foretold to gain strength in the near future due to factors such as feed-in tariff and net metering. Yet, there could be more factors augmenting the demand in Canada: for instance, green energy commitment and renewable electricity program.

Robust demand for power and favorable natural conditions have been prophesied to be at the forefront of stimulating market growth in Brazil. Floating solar plant and other new innovations could also augment the growth of the international solar photovoltaic market in the country. Auctions and small solar generators facilitated by net metering could significantly up the demand in the Brazil market. Players could find more factors supporting the growth of the global market in China as they witness an increase in installations and improvement in system efficiencies. This has been envisaged to be because of the willingness of the Chinese government to encourage research and development activities for technical developments.

Poverty alleviation is one of the concerns that China has been battling for quite some time now. Thus, government programs aimed at alleviating poverty from the country could help promote the installation of residential solar photovoltaic systems. Besides government policies, the China solar photovoltaic market could be fortified on the back of feed-in tariff and the deployment of floating solar photovoltaic systems. Players have been envisioned to find rewarding prospects in Japan as the country sees the promotion of rooftop and residential installations owing to the launch of zero-energy building (ZEB) and zero-energy house (ZEH) plans.

Yet, there could be several different factors improving the growth of the international solar photovoltaic market in South Africa, the Republic of Korea, and India.

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