A solar PV system, also known as a solar power system is designed to provide usable solar power by means of PVs. PVs use a semiconductor material to convert sunlight into electricity. A typical solar PV system consists of an arrangement of several components, including solar panels that absorb and convert sunlight into electricity, a solar inverter to convert the electric current from DC to AC, and other electrical accessories and cabling to set up a working solar power system. A solar PV system can range from small-scale rooftop mounted system typically utilized in residential and commercial buildings to large utility-scale ground mounted systems, which generate thousands of MW of electricity. Solar PV systems can be grid-connected or decentralized/off-grid installations in remote locations. Off-grid solar power systems can be standalone or hybrid systems coupled with other sources of energy, such as wind power.
Technavio’s analysts forecast the global solar PV systems market to grow at a CAGR of 20.73% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global solar PV systems market for 2017-2021. To calculate the market size, the report considers sales of complete Solar PV system i.e. Solar PV module and BOS (inverters, racking, switches, enclosures, and others) including installation cost.
The market is divided into the following segments based on geography: • Americas • APAC • EMEA
Technavio’s report, Global Solar PV Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors • Jinko Solar • Trina Solar • SMA Solar Technology • Huawei Technologies • SUNGROW
Other prominent vendors • ABB • Canadian Solar • Chint Group • DAQO NEW ENERGY • Delta Group • Enphase Energy • First Solar • Flin Energy • Fronius International • GCL-Poly • Golden Concord Holdings • GoodWe (Jiangsu) Power Supply Technology • Growatt New Energy Technology • Hanwha Group • JA SOLAR • KACO new energy • Kstar New Energy • KYOCERA • Lavancha Renewable Energy • Luminous India • MICROTEK INTERNATIONAL • OMRON • Power Electronics • Pure Volt • Redback Technologies • Renesola • Risen Energy • Schneider Electric • SHANGHAI SUNVIS NEW ENERGY • Sharp Corporation • Shunfeng International Clean Energy • Sineng Electric • SolarEdge Technologies • SolaX Power • Su-Kam Power Systems • SunPower • TABUCHI ELECTRIC • Talesun • TMEIC • Vikram Solar • Voltronic Power Technology • Waaree Energies • Yingli Solar
Market driver • Declining cost of solar energy • For a full, detailed list, view our report
Market challenge • Intermittency in solar power generation • For a full, detailed list, view our report
Market trend • Floating solar PV plant • For a full, detailed list, view our report
Key questions answered in this report • What will the market size be in 2021 and what will the growth rate be? • What are the key market trends? • What is driving this market? • What are the challenges to market growth? • Who are the key vendors in this market space? • What are the market opportunities and threats faced by the key vendors? • What are the strengths and weaknesses of the key vendors?
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