What is High Efficiency Solar Panel Market?
High efficiency solar panels if we provide the same amount of sunlight of the equivalent period on two solar panels with different efficiency ratings. The efficiency rating of a solar panel tells you what amount of sunlight that hits a solar panel is turned into usable electricity. The higher the efficiency rating the more sunlight that panel can turn into electricity. The solar panel should have the correct panel size, the cell layout and the design of the panel even the colour of the panel protection plate can affect the efficiency.
Highlights from High Efficiency Solar Panel Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||SunPower (United States), Canadian Solar (Canada), JinkoSolar (China), Trina Solar (China), Lerri Solar Technology Co. Ltd, First Solar (United States), JA Solar Holdings (China), Renewable Energy Corporation (Singapore), Hanwha Q Cells (South Korea) and Mission Solar Energy LLC (United States)|
The players are exploring the market by launching new products and the opportunity to expand and grow in key green energy markets globally, including in the US, Europe, Australia and elsewhere in Asia. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market. SunPower (United States), Canadian Solar (Canada), JinkoSolar (China), Trina Solar (China), Lerri Solar Technology Co. Ltd, First Solar (United States), JA Solar Holdings (China), Renewable Energy Corporation (Singapore), Hanwha Q Cells (South Korea) and Mission Solar Energy LLC (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Yingli (China), Risen Energy (China), Panasonic (Japan) and Suntech Power (China).
High Efficiency Solar Panel Market Segmentation:
|Application / End User||Residential and Commercial|
|Type||Monocrystalline Solar Panels, Passivated Emitter and Rear Cell (PERC) Panels, Thin-film Solar Panels and Others|
|Efficiency||Efficiency 20%-22%,Efficiency Above 22%|
|Material||Polycrystalline Silicon,PV Glass,Ethylene Vinyl Acetate (EVA),Others|
On the basis of geography, the market of High Efficiency Solar Panel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
High Efficiency Solar Panel Market Dynamics:
- Increase Preference towards Solar Panel to produce Huge Amount of Energy
- Significant Growth of Renewable Energy Due to Low-Cost Material
- Increase Innovation in Monocrystalline Solar Panels and Development of Wide solar
- Growing Demand for Development of High efficiency Solar Panel
- Fairly High Cost Associated with Next-Generation solar panel Components and Logistics May Hamper the Growth
|Road Blocks / Challenges|
- Lack of Awareness among Individuals
|Gaps & Opportunities|
- Increased Installation of Monocrystalline solar panels in the Coastal Region of North America
- Potential Growth of High Efficiency Solar Panels in Most Emerging Economies
Key Target Audience
Solar Panel Raw Material Suppliers, Manufacturers, New Entrants, Research and Development Institutes and Others
On 10th October 2021, the acquisition of REC will help Reliance with a ready global platform and the opportunity to expand and grow in key green energy markets globally, including in the US, Europe, Australia and elsewhere in Asia. In India, Reliance plans to use this industry leading technology in their fully integrated, metallic Silicon to PV Panel manufacturing giga factory at Dhirubhai Ambani Green Energy Giga Complex, Jamnagar initially starting with four GW per annum capacity and eventually growing to 10 GW per annum.