Solar industry, which makes a contribution to both economic development and environmental protection, has been vigorously advocated to develop for years. Solar panel, the core equipment to generate electricity and heat, plays a vital role in the solar industry. According to the related report, solar panel market developed continuously from 2012 to 2016, with an average growth rate of 22% per year. And according to the report released by Zion, “the global Solar Panel Market is expected to reach USD 57.3 billion by 2022, growing at a CAGR of 10.9% between 2017 and 2022.” Additionally, governments all over the world promulgate related policies to support the development of solar industry. Thus countless business opportunities could be found in the solar market.
- Solar panel market share
Solar enterprises should choose the proper market to expand business. As for solar market share by region, Asia Pacific region accounts for the largest proportion, followed by North America. While others like Europe, Latin America and the Middle East and Africa market grow moderately. It is worth mentioning that China dominates the market. Therefore, no matter you would like to sell or buy solar products or find investment opportunities, China would be a smart choice.
- Powerful enterprises in solar industry
Powerful enterprises in solar industry make great contributions to the solar panel market. The enterprises should be set as an example to learn. For instance, you could learn their business model, study their products and services, or even find cooperation opportunities with them. The following table shows top 10 solar energy companies.
(Source: Best Solar Companies)
Companies in the table accounts for a powerful competency in the industry. Most of them come from the United States, Canada or China. Moreover, LG and SunPower are deemed as top panel brands because of the products’ high efficiency. Such information reminds the solar panel companies to improve efficiency, which relates to the ability of the panel to generate energy at a fast pace with low cost.
- Impacts of solar panel industry
Developing solar panel industry could definitely benefit the environment. We know that carbon emissions from solar are heavily front loaded. Although solar modules produce emission-free energy for over 30 years, there are still toxic chemicals are released in solar panel production. What’s more, recycle of solar panel should also be taken into account. Technology innovation needs to keep pace with the requirement.
In the aspect of social development, solar industry creates more jobs opportunities. Because increased consumer demand and lower prices for solar panels call for more people to enroll in this area. And solar panel market drives the growth of the new energy economy area.
There’s no doubt that solar panel market is a prospective industry. As it is consistent with the whole social and economic development trend. While for the solar panel enterprises, it’s time to take the perfect opportunities to achieve growth.