Dublin, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The "Global Solar PV Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
This study assesses growth opportunities for the global solar PV market and uses proprietary modeling to estimate its revenue potential. The model uses estimated annual capacity additions based on countries' individual and regional targets for 2030 and other secondary resources.
Global climate change concerns have spurred a flurry of investments in renewable energy sources and other decarbonization initiatives. Efforts to focus on renewables were initiated at the 2016 COP21 in Paris, which led to countries setting renewable energy targets to achieve by 2030 in an attempt to mitigate global warming.
More recently, at COP26, more than 100 countries pledged to cut methane emissions by 30.0% from 2020 levels, which would directly impact the energy sector, considering oil and gas is the main source of methane emissions, further spurring the transition to other renewable sources, such as solar photovoltaic (PV).
Solar PV is an advantageous option in comparison to the various renewable sources available, being a low-investment, low-maintenance option characterized by the year-round abundance of the energy source and ease of accessibility when compared to wind, which requires sizeable resources, including land and investment. Advancements in storage technologies have strengthened the case for PV, with variability in production having been a major source of concern in the past.
The study also presents market trends that will define the industry's growth, major participants across the value chain (PV cells, modules, inverters, and O&M), and the competitive environment. Where applicable, market potential refers to the estimated revenue opportunity size between 2022 and 2030 available for interested stakeholders to capitalize on. Key countries in each region are profiled, detailing their market potential.
Key Topics Covered:
Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on the Solar Photovoltaic (PV) Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
Growth Opportunity Analysis
- Key Findings
- Scope of Analysis
- Geographic Scope
- Segmentation
- Key Value Chain Competitors
- Key Growth Metrics
- Distribution Channels
- Value Chain
- Growth Drivers
- Growth Restraints
- Impact of the Inflation Reduction Act of 2022 (IRA) on Solar Investments
- Impact of the EU Green Deal Industrial Plan (GDIP), Australia's National Reconstruction Fund (NRF), and India's Production-linked Investments Scheme (PLIS) on Solar Investments
Key Market Trends
- The Push for a Domestic PV Supply Chain is Strong
- Chinese Companies Continue to Dominate Polysilicon
- Despite Some Diversification in Ingots and Wafers, China Remains Dominant
- Modular Production Outside China is Rising
- Corporate Renewable PPA Demand Continues to Grow
- As Manufacturers Focus on Increasing Capacity and Lowering Costs, an Inverter Evolution (Rather Than Revolution) is Taking Place
- Efficiency Gains Drive Growth of Advanced Solar Trackers
- By 2030, Nearly 700 GW of Solar PV Will Have Trackers
- Advanced Servicing Propositions are Becoming an Increasingly Crucial Component of Solar PV Maintenance Strategies
- Revamping and Repowering are Growing as Assets Age
- P2P Trading is Growing as Intelligence Increases
- Solar PV Sustainability Means That Manufacturers are Under Pressure to Minimize Emissions and Ensure Material Reuse
- PV Recycling Reduces the Requirement for Virgin Materials and Minimizes Landfilling
- Agri PV Developments Mean Crops and Solar Can Coexist
- New Materials are Being Deployed Commercially
- Efficiencies are Constantly Increasing
- Asia is the Future Hotspot for Floating Solar PV (FPV)
- FPV, in Combination with Offshore Wind, Forms Part of the Energy Islands of the Future
- Solar is Being Increasingly Incorporated in Urban Environments
- Advanced Building-integrated PV (BIPV) is a Leading Proposition
Growth Opportunity Analysis
- Forecast Assumptions
- Annual Capacity Addition Forecast by Region
- Annual Capacity Addition Forecast by End-user Type
- Cumulative Installed Capacity Forecast by Region
- Cumulative Installed Capacity Forecast by End-user Type
- Revenue Forecast by Region
- Revenue Forecast by End-user Type
- Revenue Forecast Analysis by Region
Growth Opportunity Universe
- Growth Opportunity 1: Solar Value Chain Participation
- Growth Opportunity 2: Solar PV Plants for Green Hydrogen Production
- Growth Opportunity 3: 24/7 Renewable PPAs
- Growth Opportunity 4: Specialist O&M Service Offerings
- Growth Opportunity 5: Solutions for Urban Solar and Off-grid Deployments
For more information about this report visit https://www.researchandmarkets.com/r/dzumfx
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