Market research Future Solar Panels Market To Set Phenomenal Growth Rate | Page 3

Solar panel market Research Report- Forecast to 2023
2 Market Overview
Solar panel is the panel intended to entrap the sun's rays as a source of energy to generate electricity and
heat. It diminishes the amount of electricity produced from fossil fuels by supplying the operations with
clean, renewable energy from the sun. Solar panels are also called photovoltaic or PV modules as they
directly transform sunlight into electricity. The sun produces enough energy daily to supply 10,000 times
the current worldwide electrical needs. Solar Photovoltaic panels are coupled assembly of solar cells with
a typical 6x10 dimension that generate and supply solar electricity for commercial and residential
applications. They are also extensively used for powering electronic devices, individual gadgets, and
vehicle batteries. Installing solar panels on a typical house roof can cut down the household’s carbon
footprint by an average of 35,180 pounds of carbon dioxide per year.
Market Segmentation:
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