(MENAFN- Ameliorate Solutions)
World Fixed-tilt Solar PV Market Research Report 2021 by Product Type, End-User / Application and Regions / Countries Forecast to 2025
The US fixed-tilt solar PV market is expected to register a CAGR of 13.6% during the forecast period 2020 - 2025. Factors, such as the lower cost of fixed-tilt solar system, in comparison with tracking solar system, are likely to drive the market during the forecast period.
Thin Film Segment to Dominate the Market
- Thin-film photovoltaic module is the breakthrough in solar technology and is rapidly increasing its share in the solar power sector.
- Thin-film (TF) solar panels consist of solar cells with light-absorbing layers, which are more than 350 times smaller than a standard silicon panel. They are considered to be the lightest PV cell, owing to their narrow design and efficient semiconductor built into the cells. Thin-film solar cells are less expensive to produce than traditional silicon solar cells, as they require a lesser amount of materials for construction.
- Thin-film solar cells include - amorphous silicon (a-Si), cadmium telluride (CdTe), and gallium selenide (CIGS) cells. Among the other types, CdTe is the most widely used, roughly accounting for 50% of the share for thin-film solar panels. The record lab cell efficiency is 19.2% for CIGS, 19.9% for CdTe, and 11% for a-Si modules.
- Thin-film PV modules are commercially significant in utility-scale photovoltaic power stations, building integrated photovoltaic or in the small standalone power system.
- Hence, thin-firm is expected to dominate the market studied during the forecast period.
Competitive Landscape and Global Market Share Analysis
Fixed-tilt Solar PV competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.
The major players covered in Fixed-tilt Solar PV are: Canadian Solar Inc, ENGIE SA, First Solar Inc, Solar FlexRack, and UNIRAC Inc.
Market segmentation
Fixed-tilt Solar PV market is split by Type and by Application. For the period 2015-2025, the growth among segments provides accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
Request for Free Sample Here:
- Thin-film photovoltaic module is the breakthrough in solar technology and is rapidly increasing its share in the solar power sector, which is likely to dominate the market during the forecast period.
- The utility-scale fixed-tilt systems cost is expected to be USD 0.70 per watt by 2022, which opens up new possibilities for ultra-cheap power from solar. This is expected to create an opportunity for fixed-tilt solar PV system in the coming years.
- Increasing adoption of tracking system is expected to restrain the market of fixed-tilt solar system during the forecast period.
Regions and Countries Level Analysis
Regional analysis is another highly comprehensive part of the research and analysis study of the global Fixed-tilt Solar PV market presented in the report.
The report offers in-depth assessment of the growth and other aspects of the Fixed-tilt Solar PV market in important countries (regions), including: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, etc.), Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa) and ROW.
Avail an Exclusive Discount Here:
Increasing Adoption of Tracking System
- In recent years, solar power plants have been increasingly installed with tracking systems instead of fixed-tilt systems. Tracking systems either rotate on a single axis or on a dual-axis. Although tracking systems are more expensive than fixed-tilt systems, they are preferred over fixed-tilt systems as the tracking mechanism is designed to track the sun automatically. It generally tracks east to west, and many existing single-axis tracking systems have a tilt of zero degrees.
- In 2018, in the United States, the power production cost for fixed-tilt utility-scale systems was USD 1.44 per Watt, which amounts to USD 1.47 per Watt for tracking systems solar PV. In spite of higher costs, the revenues from the surplus power generated exceed the additional cost for tracking systems over fixed-tilt system over the period. Hence, the adoption of tracking based solar PV systems had been increasing over the last few years as compared to fixed-tilt systems.
- The share in new installations of solar PV tracking systems has reached 79% of total new installations, in 2018, compared to that of 44%, in 2014. Over the years, tracking systems has been replacing fixed-tilt systems in new installations.
- Hence, this is expected to restrain the market of fixed-tilt solar PV system during the forecast period.
Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
About MARKET INSIGHTS REPORTS
Contact:
+1 (704) 266-3234
MENAFN25022021004660010643ID1101658888
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.