08 July 2021
Visiongain has published a new report entitled the Crystalline Silicon Solar PV Market Report 2021-2031: Forecasts by Type (Ground-Mounted, Rooftop Solar), by End-User (Utility Sector, Residential Sector, Commercial Sector, Industrial Sector), by Technology (Mono-Crystalline Cells, Multi-Crystalline Cells, PERC Cells, HIT Cells, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Crystalline Silicon Solar PV Companies AND COVID-19 Recovery Scenarios.
The global Crystalline Silicon Solar PV market was valued at US$xx billion in 2020 and is projected to grow at a CAGR of xx% during the forecast period 2021-2031. The household solar industry in the United States has transformed dramatically during the last several years. By allowing homeowners to save up-front capital expenditures, a third-party ownership model, which is now authorised in half of the states, is displacing direct sales of residential PV systems. The rise of the third-party ownership model has aided residential PV development in the United States, and if third-party ownership were permitted in additional states, home solar would grow even faster.
How has COVID-19 had a significant negative impact on the Crystalline Silicon Solar PV Market?
Lockdowns have placed many photovoltaic projects in standby because of supply chain disorders. For instance, consider blocking China's production of PV panels in February (factories in China produce about 70 percent of the global supply of solar panels). While factories have already been opened and businesses are reactivating their usual activity, worldwide photovoltaic projects have suffered economic loss from delays and interruptions. The recovery depends on the size, liquidity and debt access or restructuring of the company.
How this Report Will Benefit you?
Visiongain’s 740+ page report provides 471 tables and 493 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global crystalline silicon solar PV market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Crystalline Silicon Solar PV. Get the financial analysis of the overall market and different segments including type, media, application, gas type and capture higher market share. We believe that high opportunity remains in this fast-growing crystalline silicon solar PV market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Solar Hardware Costs Have Decreased Over the Past Number of Years
Over the last few years, the cost of solar gear has fallen. Soft cost reductions currently provide the best chance of lowering solar power costs and speeding cost parity with other generating sources. This will be a critical aspect in establishing solar energy as a viable technology. Some governments have had success in adopting programmes to lessen soft cost constraints. The US Department of Energy's SunShot Initiative, for example, is tackling soft costs in one high-profile issue.
The Solar Industry Is Fortunate to Have Such Strong, Broad Public Support
The solar business is lucky to have such widespread backing from the general population. Solar energy is supported by the great majority of people, who consider it as the most desirable energy source for their community. Once they have all of the facts and information, an informed and knowledgeable energy consumer will want to make the wise choice—solar. Solar power will grow and expand if the purchasing public gets access to the most up-to-date information on the worth of solar and other energy prices. Expanding solar power is broadly supported in public opinion, whereas increasing the production of fossil fuels such as oil and gas, as well as nuclear energy, is significantly less popular. Only 9% of Americans oppose new solar panel farms, while 89 percent support them.
Where are the market opportunities?
Mono-Crystalline Silicon Wafers Have Recently Gained Traction In The Global Market
Mono-crystalline silicon wafers have recently gained traction and are capturing the worldwide solar PV industry. A mono-wafer module is more efficient and has fewer faults than a multi-crystalline wafer module. Mono-technology is expected to dominate in the next years. Manufacturers are embracing larger wafer sizes in addition to mono-wafer technology to boost the power output from a single module.
A Large Decline In Solar Module Prices Is One Of The Primary Factors That Keeps Driving Solar PV Installations
All major types of PV modules saw price reductions, with some units seeing price reductions of more than 10%. It's difficult to predict if prices will continue to decline in 2020. Even if the cost of producing more efficiency technologies continues to fall, pricing will stay unchanged for a while. Manufacturers will undoubtedly want to take advantage of the cheaper production costs.
The major players operating in the crystalline silicon solar PV market are Sharp Corporation, JA Solar Technology Co Ltd, SolarWorld AG, Yingli Green Energy Holding Company Limited, Canadian Solar Inc., First Solar, Inc, SolarEdge Technologies, Inc., SunPower Corporation, SolarCity Corporation, Sunrun Inc.,
These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. For instance, in Oct 2020, Sunrun a leading provider of residential solar, battery storage and energy services has announced that it has completed its acquisition of Vivint Solar which was initially announced on July 6, 2020. This follows approval by regulators and stockholders of both companies.
Notes for Editors
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