Solar PV is a renewable energy source that is ecologically beneficial, affordable, and can be used in many regions where standard transmission lines are prohibitively expensive. It is also extremely simple to assemble and install, making it an appealing option for homes looking to reduce their reliance on the power company. The growing emphasis on energy conservation and cost-cutting is likely to boost growth in the solar PV market. Solar systems may produce roughly 50% of the energy that a normal household needs in a year, allowing them to drastically decrease expenditures. As a result, solar panels have the potential to assist address global concerns such as energy poverty and reduce the burden of reliance on fossil fuels.
The global Solar Photovoltaic (PV) Market size was valued at US$ 1144.7 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 22.36% from 2023 to 2030.
Leading Companies in the Solar Photovoltaic Industry:
1. Suntech Power Holdings Co. Ltd
Suntech Power Holdings Co. Ltd founded in 2001 and its headquarters Wuxi, China. The company operates in 100 countries.
2. Sharp Corporation
Sharp Corporation founded in 1912, and its Headquarters located in Sakai, Osaka, Japan. The company operates in 30 nations.In 2019 Sharp Corporation (Sharp), and Toyota Motor Corporation (Toyota) announce today a plan to commence public road trials from late July
3. JinkoSolar Holding Co. Ltd,
JinkoSolar Holding Co. Ltd, was launch in 2006 and it’s headquarter located Shanghai, China.it operate over 160 country.In 2021 2021 JinkoSolar Holding Co., Ltd (NYSE: JKS) announced on March 29th, that it has launched a new series of ultra-efficient Tiger Pro modules
4. JA Solar Holdings Co. Ltd
JA Solar Holdings Co. Ltd was launch in 2005 and it’s headquarter, Shanghai, China..it operate over 150 country. JA Solar has built an excellent reputation and a loyal customer base in the fast-growing South Korean PV market with its high-quality products
5. Trina Solar Ltd
Trina Solar Ltd was founded 1997 with its headquarters in China . With businesses in over 160 countries.
6. Hanwha Q Cells Co. Ltd
Hanwha Q Cells Co. Ltd .was launch in 1999. And its headquarter - Seoul, South Korea. It operate over 70 country. Hanwha Qcells has once again retained its No.1 market share position in both the residential and commercial U.S. solar segments
7. Acciona SA
Acciona SAfounded in 1997 and it’s headquarter located Madrid, Spain.It operate over 130 country. In 2022 ACCIONA Energía has acquired Red-Tailed Hawk, a 350-MWac/458-MWdc photovoltaic (PV) project near Houston in Wharton County, Texas
*Definition- Solar PV is a renewable source of energy that is environmentally friendly, accessible to the masses, and can be used in many areas where traditional transmission lines are costly. It is also relatively easy to assemble and install, making it an attractive choice for homeowners who want to cut their dependence on the utility company.
