Global Solar Energy Market Size

1. Global Solar Energy Market Size, Share, Growth Analysis, By Technology(Solar Photovoltaic and Concentrated Solar Power), By Application(Residential, Non-Residential) - Industry Forecast 2023-2030 Global Solar Energy Market size was valued at USD 168.80 billion in 2021 and is poised to grow from USD 180.78 billion in 2022 to USD 292.21 billion by 2030, at a CAGR of 7.1% during the forecast period (2023-2030). Over the forecast period, the industry is expected to grow as a result of the rising demand for sources of sustainable energy production to replace conventional energy sources. Due to the decreasing cost of solar energy systems, solar energy is becoming more competitive in the energy generation industry. Due to significant investments in solar energy technology, component costs are anticipated to significantly decline in the upcoming years. This would make solar energy systems more affordable than already operational coal or gas power plants. Demand for products is anticipated to increase due to the need for alternative energy sources and a decrease in reliance on fossil fuels. The National Thermal Power Corporation (NTPC) announced that as part of its aim to establish a 60 GW

2. renewable energy portfolio by 2032, In Gujarat, India's Rann of Kutch, it will construct a 4.75 GW solar PV project. The project is expected to cost USD 3.31 billion, and it will begin making money in 2023.Throughout the forecast period, it is anticipated that such sizable utility projects will increase the use of solar energy. With 54.9 GW of installed PV capacity in 2022, the Chinese market, for example, one of the biggest markets, represented around 31% of the worldwide market. With over 23 GW of yearly installations, the United States came in second to China in 2022. India came next, with roughly 13 GW installed, and the European Union came after them with an expanded market of 26.8 GW. There will likely be more demand for the products as the economics of installing solar energy systems for electricity generation improve

3. Global Solar Energy Market Segmental Analysis Global Solar Energy Market is segmented on the basis of technology, application and region. By technology, the market is segmented into solar photovoltaic and concentrated solar power. By application, market is segmented into residential, non-residential, utility. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. View-More https://www.skyquestt.com/report/solar- energy-market Solar Energy Market Top Player’s Company Profiles •JinkoSolar (China) •Canadian Solar (Canada) •Trina Solar (China) •SunPower Corporation (USA) •First Solar (USA) •LONGi Solar (China) •JA Solar (China) •Yingli Solar (China)

4. •Hanwha Q Cells (South Korea) •Risen Energy (China) •Vikram Solar (India) •LG Solar (South Korea) •SolarEdge Technologies (Israel) •SMA Solar Technology (Germany) •Enphase Energy (USA) •REC Group (Norway/Singapore) •Huawei Technologies Co. Ltd. (China) •Sharp Solar (Japan) •Kyocera Solar (Japan) •Mitsubishi Electric Corporation (Japan) •Solairedirect (France) •GCL-Poly Energy Holdings Limited (China) About Us: SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

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