CRYSTALLINE SOLAR COLLECTOR MARKET ANALYSIS

Crystalline Solar Collector MarketSize and Trends

Factors Driving Growth of Crystalline Solar Collector Market

The increasing demand for clean energy is the major factor that is expected to drive the market growth of crystalline solar collector market over the forecast period. Technological innovations in the development of photovoltaic cells plays a significant role in capturing solar energy efficiently. Solar collector panel are combined with photovoltaic cells to convert solar energy into electrical energy with the help of photoelectric effect. Crystalline silica and its oxides are used to manufacture photovoltaic cells. The major types of silicon currently used in manufacturing of PV cells include monocrystalline silicon, polycrystalline silicon, and amorphous silicon.

Moreover, rising number of photovoltaic (PV) cells installations are expected to drive demand for storage grid and also for lithium battery, in order to save more solar power. For instance, in 2018, according to Coherent Market Insight report, U.S. has installed 65.5 GW solar, which provide enough power to 15.3 million homes in the U.S. Furthermore, crystalline solar PV collector finds its application in industrial and residential sector and this is expected to drive growth of the crystalline solar collector market over the forecast period.