The global U.S. Solar PV Market Size research report offers the definition, market shares, drivers, restraints, opportunities, and challenges in an voluminous format. On the basis of Type, the market is further categorized into based on the regions, the market is distributed into Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa. This markets competitive manufactures and the upcoming manufactures are studied with their research. Revenue, production, price, market share of these players is mentioned with detailed information.
U.S. Solar PV Market study
offers an exhaustive summary of the vendor landscape, competitive analysis, and
key strategies to gain ruthless advantage. U.S. Solar PV Market Forecast
provides sizing and growth opportunities. It provides comprehensive insights on
the latest industry trends, forecast, and growth drivers in the market. it also
includes a detailed analysis of growth drivers, challenges, and investment
opportunities and delivers a complete overview of segments and the regional
outlook of the market.
Industry Insights
The US solar PV market is
estimated to reach an installed capacity of 60 GW by 2022. The rising demand
for electricity coupled with increasing consumer awareness concerning the
benefits of renewable resources is anticipated to have a positive impact on the
market growth. The increasing demand for solar PV panels in commercial and
residential applications is expected to drive market growth.
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A solar photovoltaic system
generates electricity from sunlight with the help of semiconductors. The
electrons in these materials are freed by sunlight and can be induced through
an electric circuit to generate electricity. The growth of solar PV technology
is fastest as compared to other renewable energy sources owing to free
availability of sunlight.
The government subsidies
and regulations are beneficial to the market growth. In addition, the growth in
the number of solar panel installations mainly in California has caused a steep
decline in the module prices. The decrease in the price of raw materials
coupled with advanced manufacturing processes is anticipated to have a positive
impact on the growth of U.S. solar PV market.
The application segments
namely, residential, utility and commercial/non-residential are anticipated to
increase substantially on account of the Investment Tax Credit (ITC) subsidy
till 2016. In 2016, the US solar market grew by 97% adding about 15GW of new
capacity. The electricity provided by solar energy accounted for over 39% of
the total installed electric capacity in 2016.
The residential segment
witnessed a substantial growth in the upcoming years owing to the increasing
concern of consumers regarding the protection of environment together with
decreased cost of the module. In addition, the cost of maintenance of solar PV
is low as compared to other sources of power generation which have led to an
increase in demand for the modules.
The reduction in carbon
emission during the generation of electricity as compared to other sources
together with the variable sizes available in solar PV modules is expected to
have a positive impact on the market growth. In addition, the availability of
solar insolation across the US is anticipated to aid the demand of solar PV
modules in the country.
Application Insights
The utility segment
contributed to over 50% of the overall U.S. solar PV market installations in
2014. The development of technology has increased the efficiency of electricity
generation by solar PV modules coupled with low installation cost owing to
government subsidies is expected to drive market growth.
The commercial application
segment is expected to witness a growth at CAGR of around 14% over the forecast
period. The shift in consumer inclination towards the utilization of renewable
energy for electricity generation owing to environmental protection is likely
to fuel solar PV market growth in U.S.
State Insights
California contributed to
over 7,815 MW power in 2014 on account of the exposure to solar radiation
together with growing number of installations in residential and utility
sectors. In addition, there is a sharp decline in the cost of equipment owing
to large-scale installations of solar PV which is expected to lead market growth.
California accounts for
over 50% of the residential segment of the solar PV system installations
followed by New Jersey and Arizona. There is a significant decline in raw
material prices owing to technological advancements and bulk ordering from China.
The extension of federal ITC is likely to propel market demand of solar PV in
the country.
The favorable energy
policies in California is likely to propel growth for renewable energy leading
to a rise in market demand for solar PV modules. The preference of consumers in
Arizona and California towards the use of environmentally friendly renewable
energy is expected to bolster the solar PV market demand.
North Carolina is likely to
have an increase in the contribution towards US solar market owing to a growth
in residential installations. Furthermore, the high cost of power in North
Carolina as compared to other states including Louisiana, Washington, and
Kentucky is likely to boost market growth in the region.
Table of Contents:-
Chapter
1 Methodology and Scope
Chapter
2 Executive Summary
Chapter
3 U.S. Solar PV: Market Variables, Trends & Scope
Chapter
4 U.S. Solar PV: Product Estimates & Trend Analysis
Chapter
5 U.S. Solar PV: Application Estimates & Trend Analysis
Chapter
6 U.S. Solar PV: End-use Estimates & Trend Analysis
Chapter
7 U.S. Solar PV: Industrial End-use Estimates & Trend Analysis
Chapter
8 U.S. Solar PV: Regional Estimates & Trend Analysis
Chapter
9 Competitive Landscape
Chapter
10 U.S. Solar PV: Manufacturers Company Profiles
Top Key Players of U.S.
Solar PV Market :
SunPower, 1Soltech, Advance
Power, BORG Inc., Solar Cynergy, Zebra Energy, Lumos, First Solar, Suniva, Alps
Technology, Auxin Solar, Pionis Energy, Green Brilliance, Solar World, Itek
Energy.
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