Market research Future Solar Panels Market Ressearch Report 2018.

Solar Panels Market industry Research Report- Forecast to 2023  By Region  North America  Asia Pacific  Europe Market Research Analysis: - Solar PV by technology segment is expected to grow at the fastest rate and hold the largest market size in forecast period. Solar cells, also known as photovoltaic cells, converts sunlight directly into electricity. Basically the name PV originates from the process of converting light (photons) to electricity (voltage), which is called the PV effect. The PV effect was discovered in 1954, when scientists at bell laboratories discovered that silicon created an electric charge when exposed to sunlight. Solar PV was later commercialized and brought up in the market, which are now widely used from powering space satellites to smaller items such calculators and watches. Solar photo-voltaic holds the largest share in the solar panel market with the highest installed capacity of 306.5 GW till 2016 around 2% of the world’s electricity demand. The levelized cost of electricity (LCOE) ranges between USD 0.11 and USD 0.12/kWh (in South and North America, respectively) to over USD 0.31/kWh (in Central America and the Caribbean). But for individual projects there are wide range of costs. In countries with decent solar resources, projects are now being constructed with an LCOE of USD 0.08/kWh, while a recent tender in Dubai, United Arab Emirates, resulted in a successful bid for a solar PV power purchase agreement (PPA) for just USD 0.06/kWh, without financial support. It is expected that the levelized cost of electricity (LCOE) of utility-scale solar PV projects would witness an average fall of 50% during the forecast period. Page | 4 Copyright © 2018 Market Research Future.

Market research Future Solar Panels Market Ressearch Report 2018. | Page 4