Ocean View, Delaware, Dec. 06, 2016 (GLOBE NEWSWIRE) -- Solar Cells Market size was above USD 35 billion in 2015 with forecast to grow over 12.0% from 2016 to 2024, as per a new research report by Global Market Insights, Inc.
Growing adoption of clean fuel technologies over conventional will drive global solar cells market size. Government initiatives towards energy conservation and carbon footprint may favor the business growth.
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Rising demand for off grid electricity coupled with decreasing photovoltaic component cost is anticipated to drive the solar cells market share during forecast period. As of 2014, over 600 million people in Africa have no or poor access to reliable electricity.
In 2016, Government of India has announced a budget of over USD 700 million to install 5 GW of grid connected photovoltaic project by 2020. These initiatives may boost the overall business growth in the region. World bank and International Finance Corporation have introduced several programs including “Lighting Africa” to promote the use of photovoltaic products over conventional lighting source among off grid population.
Increasing demand for reliable electricity coupled with favorable polices to promote renewable energy including solar may further compliment the industry outlook. The Government of India has introduced various incentives such as accelerated depreciation, capital subsidies, tax benefits, feed in tariff and renewable energy certificates which may positively affect the overall industry growth.
Browse key industry insights spread across 152 pages with 482 market data tables & 12 figures & charts from the report, “Solar Cells Market Size By Technology (Crystalline Silicon Cells, Thin Film Cells, Ultra-Thin Film Cells), By Product (Polycrystalline, Monocrystalline, Cadmium Telluride (CDTE), Amorphous Silicon (A-Si), Copper Indium Gallium Diselenide), By Grid (On-Grid, Off Grid), By Application (Residential, Commercial, Utility), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, Spain, France, China, India, Japan, Australia, UAE, South Africa, Brazil, Chile, Argentina), Growth Potential Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
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Solar Cells market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million and volume (shipment) in MW from 2013 to 2024, for the following segments:
Global Solar Cells Market By Technology
Global Solar Cells Market By Product
Global Solar Cells Market By Grid
Global Solar Cells Market By Application
The above information is provided on a regional and country basis for the following:
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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