Rapidly Growing Market of Solar Panels during 2016- 2023

Good news for the environment and local economies with some job creation (as these panels get installed and come on-line).



Solar panel is the panel intended to entrap the sun's rays as a source of energy to generate electricity and heat. It diminishes the amount of electricity produced from fossil fuels by supplying the operations with clean, renewable energy from the sun. Solar panels are also called photovoltaic or PV modules as they directly transform sunlight into electricity. The sun produces enough energy daily to supply 10,000 times the current worldwide electrical needs. Solar Photovoltaic panels are coupled assembly of solar cells with a typical 6x10 dimension that generate and supply solar electricity for commercial and residential applications. They are also extensively used for powering electronic devices, individual gadgets, and vehicle batteries. Installing solar panels on a typical house roof can cut down the household’s carbon footprint by an average of 35,180 pounds of carbon dioxide per year.

Key Players:

The key players of solar panel market are Trina Solar Limited (China), Canadian Solar Inc. (Canada), Jinko Solar Holding Co., Ltd. (China), JA Solar Holdings Co., Ltd. (China), Hanwha Q CELLS Co., Ltd., (South Korea), First Solar, Inc. (U.S.A), Yingli Solar (China), Shunfeng International Clean Energy Ltd (Hong Kong), ReneSola (China) and SunPower Corporation (U.S.A).