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Solar PV Modules - Rising Demand for Renewable Energy and Increased Initiatives for Energy Sustainability to Boost Market Demand

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Published on : Feb 20, 2017

ALBANY, NY, Feb 20, 2017: The report on the global solar photovoltaic (PV) module market provides an in-depth insight into key drivers and restraints, emerging technologies, average price trends, and impact of key dynamics on the competitive landscape in major regions. In addition, the study provides statistics on the market value and volume for the forecast as well as the historical period. The factors influencing the price trends of prominent segments, such as sucpriccrystalline silicon (c-Si) and thin-film modules, are evaluated in the research analysis. 

The analysis covers an assessment of the regulatory framework prevalent in major countries such as China, Japan, Australia, India, the U.S., Canada, Italy, Germany, France, and the U.K. and highlights various government and institutional incentives. 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 PV module market is offered in the report. The research study offers a comprehensive insight into the country-wise annual capacity additions in major regions such as Asia Pacific, the Americas, Europe, and the Middle East and Africa. 

The global solar PV module market is driven by the increasing demand for renewable energy across various countries. In addition, growing global environmental concerns have led various governments and institutions to offer incentives for the installation of large-scale PV plants. This is anticipated to propel the demand for solar PV modules. Furthermore, achieving economies of scale in the generation of solar power and the technological advancements brought about by various PV module manufacturers have stimulated the growth of the global solar PV module market.  In addition, the incentive to lower carbon energy footprints in various emerging nations is expected to boost the market. 

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Market analysts observe that the year-on-year reduction in global module prices has been a defining trend for the past few years. The study assesses the impact of dwindling prices on the investments made for solar energy power installations projects and anticipates that the global installations are expected to rise.  Nevertheless, the expected surge in the PV module installations is likely to be offset by tariff adjustments, restraining the growth of the solar PV module market. 

Recently, the market has witnessed the roll-back of different incentive schemes in developed and developing nations, particularly in Japan, China, and the U.K. For instance, the changes in existing renewable energy feed-in tariff (FIT) system in Japan has resulted in a significant backlog of large-scale PV solar projects. The changes in the government policy of these countries are expected to impede the market growth to some extent. However, increasing focus of governments on attaining energy stability and independence is expected to create promising growth opportunities for the market players. 

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