Europe Solar Photovoltaic Market – Size, Outlook, Trends, and Forecast (2024

Europe Solar Photovoltaic Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Photovoltaic will help to transform the light or solar energy into electricity using semiconductors which shows photovoltaic effect. The photovoltaic system is proposed to use in solar power with the support of photovoltaics. At present solar cells are being made of different materials like silicon, containing solar inks with conventional printing press technologies, solar dyes, and conductive plastics. Some solar cells use plastic lenses, mirrors to focus sunlight on a minor portion of high-efficiency PV material. Also, solar PV has various benefits such as no pollution, greenhouse gas emissions, scalability, and some other advantages to the environment.

Europe Solar Photovoltaic Market Segments Size & Growth:

Europe Solar Photovoltaic Market is accounted for $XX billion in 2017 and expected to grow at a CAGR of XX% to reach $XX billion by 2024 during the forecast period 2018-2024. Major factors that are driving the market growth government initiatives & policies demand solar systems in residential and environmental concerns to generate hydropower, emerging adoption of technology due to consumer awareness towards the cost, and also the rising demand for renewable energy sources. However, lack of skilled labour, high installation cost, the raw material utilised in the solar cell manufacturing process, availability of sunlight as well as solar photovoltaic designs which are hampering the growth of the Europe solar photovoltaic market.

Europe Solar Photovoltaic Market Segments Share:

Europe Solar Photovoltaic market is categorised into the

Europe Solar Photovoltaic Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

material which consists of crystalline silicon which is future segmented into monocrystalline silicon and polycrystalline silicon; and thin film. Among all multi-crystalline or polycrystalline silicon is dominating the market owing to the cost-effectiveness and efficiency. By application, it is classified by residential, non-residential and utility. Among others, segments utility has the highest market due to the rise in installations, low cost and has various applications in utilities.

By Geography, Germany is dominating the growth of the Europe solar photovoltaic market and the growth in Europe are mainly attributed to the government instalments of various solar, CSP, and photovoltaic projects. However, UK government has specified solar energy importance in the nation’s renewable energy mix and invested on Rooftop Subsidy program and Golden Sun Demonstration program to improve PV capacity hence pushing the growth of the solar photovoltaic market.

Europe Solar Photovoltaic Market Segments Trends:

In March 2018, SunPower had completed SunPower Oasis Power plant system for Oklahoma Gas & Electric to provide low-cost power to the clients.
In April 2017, Trina Solar Limited has introduced a high-efficiency bifacial module DUOMAX Twin which integrates with the technology of Trina Solar bifacial PERC cell and dual glass DUOMAX module.
In June 2017, Sharp Corporation had an agreement with Roof-Top Solar System to install 11mW solar devices that help in saving electricity in warehouses and stores.
In February 2016, Trina Solar

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Europe Solar Photovoltaic Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Power had acquired Solland Solar cell manufacturing company which as the capacity to produce 200MW in the Netherlands

In March

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