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The substantial decrease in costs of PV solar cells and related infrastructure had a significant impact on the growing preference for the implementation of solar energy systems in residential, commercial, and industrial settings across different countries. Additionally, national-level organizations are consistently striving to minimize costs to the lowest possible levels, which will contribute to the increasing market demand. For instance, the US Department of Energy Solar Energy Technologies Office (SETO) is dedicated to funding PV research and development projects aimed at reducing the costs of solar-generated electricity through enhanced efficiency and reliability. SETO's PV research initiatives are focused on upholding US leadership in the field, with a proven track record of influence spanning several decades. Notably, around half of the world's solar cell efficiency records, as monitored by the National Renewable Energy Laboratory, have been supported by the DOE, primarily through SETO PV research. SETO's ultimate goal is to achieve a levelized cost of $0.02 per kilowatt-hour (kWh) for utility-scale solar photovoltaics, $0.04 per kWh for commercial PV systems, and $0.05 per kWh for residential rooftop PV systems.
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- Market Coverage
- Market number available for – 2025-2031
- Base year- 2025
- Forecast period- 2025-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Solar Panel Market by Technology
- Mono-crystalline
- Polycrystalline silicon
- Thin-film solar panel
- Others (Amorphous Silicon)
Global Solar Panel Market by End-User
- Residential
- Commercial
- Industrial
Regional Analysis
- North America
- United States
- copyright
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ALLPOWERS Industrial International Ltd.
- China Sunergy (Nanjing) Co., Ltd.
- First Solar, Inc.
- Hanwha Solarone Co. Ltd.
- JA SOLAR Co., Ltd.
- juwi AG
- KYOCERA Corp.
- Motech Industries Inc.
- Neo Solar Power Corp.
- Renesola Zhejiang Ltd.
- Risen Energy Co., Ltd.
- Sharp Corp.
- Shenzhen Portable Electronic Technology Co., Ltd.
- SunEdison Inc.
- Tata Power Solar Systems Ltd.
- Vikram Solar Ltd.
- Yingli Green Energy Holding Co. Ltd.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global solar panel market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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