Around 15% of Solar Panel market growth was witnessed in Europe
Wiseguyreports.Com Adds “Solar Panel -Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022” To Its Research Database
In Europe, the solar sector is still in a transition phase. In 2015, around 15% of market growth was witnessed in Europe. In spite of the transition struggle of the various advanced solar markets in Europe, total installed capacities rise to 97.1 GW in 2015 from 88.9 GW in 2014. These facts states that Europe maintained its rank being the largest solar continent at global level in 2015, however only around 1 GW ahead of the Asia Pacific region. The European solar panel market is primarily driven by the policy issues. The region has as many diversified solar policy environments as its number of countries. Depending on the preference of the regulators and policy makers, some of the countries have more utility-scale solar panels installed while others account a major share for commercial, industrial and residential rooftops. As of 2017, the European region is projected to return back towards the growth path during the forecasted period 2016-2022. Superior benefits of solar which is more economical than retail electricity in most regional markets in present times and is constantly declining cost is the key force that has influenced individuals to invest in on-site generation.
In European countries, political support for the solar power differs a lot. In spite of the solar panels impressive cost improvements, most of the regional governments are not supporting this energy source to an extent as seen in the world’s major markets in North America and Asia Pacific. In 2015, Europe’s three major solar markets- U.K., Germany and France is expected to be the largest contributors towards the solar panel market growth till 2022. However, the political environment specifically in the UK and Germany are not solar-friendly in the current scenario. Though, a functioning infrastructure comprising standards, utilities increasingly employing solar panels, a large number of solar installers and storage & solar products attracting customer’s new groups which are expected to attribute towards the growth of the European market.
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The key players of European solar panel market include
Canadian Solar Inc., First Solar GmbH, Yingli Green Energy Europe GmbH, Trina Solar Ltd., Energy Panel, S.L. and Sharp Solar Company. Mergers and acquisitions, agreements & partnerships and geographical expansion are the key strategies adopted by the companies present in the market to strengthen their market share within the region. In October 2016, Yingli Green Energy Europe GmbH entered into a partnership agreement with SolarAid with the aim to launch the world’s most affordable solar light i.e. SM100. This new solar light was developed and designed by Yingli Europe. Such strategic initiatives boost the growth of the solar panels market in Europe.
European solar panel market can be segregated geographically into UK, Germany, France, Spain, Italy, Eastern Europe and Rest of Europe. According to OMR Analysis for Solar Power 2016-2022, Germany and Turkey are projected to contribute highest in European Solar markets in 2020 followed by France, the UK and Italy which dominated regional solar sector in 2015 will follow Germany and Turkey in terms of solar energy. Until 2012, Germany’s solar panel market growth was primarily driven by commercial systems and to a lesser extent, industrial and utility-scale segments. But after moving towards the self-consumption with feed-in premium, the German market has been based generally on residential rooftop systems. A new tender scheme related to the ground-mounted installations above 1MW is expected to contribute towards the growth of the Germany market.
In 2015, the UK leads the European solar market by adding around 3.7 GW of new solar power capacity. Germany gained 2nd position at that point of time. While France remained third largest regional market installing less than 0.9 GW in 2015. In the past the growth in the France is backed by the tenders granted as well as a slightly growing distributed market. Along with it, in 2014 France commissioned the largest PV power plant within the region with a 300 MW utility-scale capacity. In Europe, Turkey is projected to be one of the largest solar panel markets in the coming years. The growth of the Turkey is backed by the rapidly growing economy of the country in comparison to rest of the Europe. Along with it, the growing population within the country has widened the demand for electricity which in turn is expected to attribute towards the demand for solar panels. Unlike the European Union, Turkey does not possess power generation overcapacities, thus lower cost solar power acts as a potential source to satisfy the increasing power demand.
The report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, strategic recommendations, key company analysis, key findings, market insights, analyst insights and predictive analysis of the market.
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• European Solar Panel Market by Application
o Power Plants
• European Solar Panel Market by Type
o Polycrystalline Solar Panels
o Monocrystalline Solar Panels
o Amorphous Solar Panels
• Comprehensive research methodology of European Solar Panel market
• In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European Solar Panel market
• Insights about market determinants which are stimulating the European Solar Panel market
• Detailed and extensive market segments with regional distribution of researched revenues
• Extensive profiles and recent developments of market players
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Source: EIN Presswire