Asia-Pacific Solar Energy Panel Market To Reach $37.8 Billion By 2020, Growing At 14.8% CAGR From 2014 To 2020

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WILMINGTON, DE , UNITED STATES, June 18, 2024 /EINPresswire / -- Solar energy is an infinitely renewable resource, harnessing the power of the sun, which is expected to radiate energy for billions of years to come. This abundance ensures a consistent and reliable source of clean energy.

Asia-Pacific Solar Energy Panel market is expected to garner $37.8 billion by 2020, registering a CAGR of 14.8% during the forecast period 2014-2020.

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One of the most compelling benefits of solar energy panels is the potential for significant cost savings on electricity bills. Once installed, solar panels generate electricity from sunlight at no additional cost, offsetting or even eliminating reliance on grid power. Furthermore, many governments offer financial incentives such as tax credits, rebates, and net metering programs, making solar panel installation more affordable and financially appealing for consumers and businesses alike.

By Type
. Monocrystalline panel
. Polycrystalline panel
. Hybrid solar panels
. Black backed panel
. Thin film

By Mounting Systems
. Ground mounted
. Roof mounted
. Solar tracker
. Fixed racks

By End User
. Commercial solar panel
. Residential solar panel
. Government
. Utility Scale

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In addition to generating clean electricity, solar energy panels offer various environmental benefits, such as reducing water consumption in electricity generation, preserving natural habitats by minimizing land use, and mitigating air and water pollution associated with conventional energy sources. The solar energy panel market continues to soar, propelled by a myriad of compelling benefits ranging from environmental sustainability and financial savings to energy security and economic prosperity. As global efforts to combat climate change intensify, solar energy stands as a beacon of hope, illuminating the path towards a cleaner, greener future for generations to come.

Key Market Players:

. Canadian solar Inc.,
. JA Solar Holdings
. Trina Solar Ltd
. Solar World
. LDK Solar Co. Ltd
. Yingli Solar
. JinkoSolar Holding co.,ltd
. Hanergy Holding Group
. Suntech Power Holdings
. First Solar

Key Findings of the Study:

. The report provides an in depth analysis of the Asia-Pacific solar energy panel market with current and future trends
.This report highlights the key drivers, opportunities and restraints of the market along with an impact analysis of the forecast period
. Current and future trends are outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
. Market estimation for type, end user and geography segment is derived from the current market scenario and expected market trends
. The Porters five forces analysis highlights the potency of buyers and the suppliers participating in this market. This would further lend a competitive edge to the stakeholders and help in better decision making

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With advancements in technology and manufacturing processes, the cost of solar panels has significantly decreased in recent years. Additionally, government incentives, tax credits, and net metering policies further enhance the financial viability of solar energy systems, allowing consumers to save on energy bills and achieve long-term returns on investment.

David Correa
Allied Market Research
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