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Technological Advancements and Process Improvements Unlock Promising Avenues in Solar Photovoltaic (PV) Market

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Published on : Mar 14, 2017

ALBANY, NY, March 14, 2017: The comprehensive report on the global solar photovoltaic (PV) market provides an in-depth analysis into key market dynamics, market share and size of product segments, price trends, and technological advancements. The research study offers an impact analysis of major drivers and restraints on the emerging demand patterns. The factors shaping the price of prominent product types, such as crystalline silicon, multijunction cell, and nanocrystalline are evaluated in the research study. The analysis takes a closer look at the process improvement initiatives taken by leading manufacturers that are expected to influence the competitive landscape in major regions, such as North America, Europe, and Southeast Asia. 

A solar photovoltaic (PV) system typically consists of numerous PV cells or solar cells fuelled by different technologies. The research analysis offers an assessment of the favorable regulatory changes in key countries such as China, Japan, India, and the U.S., and highlights prominent technology enhancements. Furthermore, a detailed evaluation of the macro- and micro-economic factors that shape the price trends of the suppliers and buyers in the global solar PVmarket is offered in the report. 
The global solar PV market is primarily driven by the soaring demand for renewable sources of energy across the residential and commercial sectors. The residential segment constitutes a prominent end user of the market. Recent fiscal incentives to the producers of the renewable energy have led to the availability of subsidized energy to a large number of people in emerging regions.  This bodes well for the growth of the market.

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Rising environmental concerns worldwide have led governments in various countries to offer major incentives for the installation of PV plants. This is expected to propel the market. Furthermore, technological advancements and process improvements will unlock promising opportunities for the market players. In addition, sustained incentives to reduce carbon energy footprints in various emerging and developed nations are expected to fuel the growth of the market. 

Analysts observe that constant technological advances, coupled with favorable environmental regulations, have accelerated the installation of PV plants, which will positively impact the market along the forecast period. The research study states that the impact of technology barriers and low awareness of renewable sources of energy will hinder the demand for solar PV cells in several underdeveloped economies. 

The report offers detailed insights into key product offerings of leading players, revenue share and size in major regions, and the strategies adopted by them to consolidate their presence. Major companies operating in this market include Trina Solar, Yingli Green Energy, Canadian Solar, 3M, Madico, Jinko Solar, Sharp Solar, Renesola, and Hanwha SolarOne. 

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