October 22, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Grid Connected PV Systems Market Insights, Forecast to 2025’, the worldwide grid connected PV systems market is presumed to expand momentously by the year 2025.
Grid connected PV system is a solar photovoltaic system linked to utility grid that produces electricity using solar power. It does not contain any integrated battery solution, as in case of standalone solar systems. The equipment is reported generate excessive electricity under favorable conditions, which can then be fed to grid, hence compensating the capital investment.
Ease of maintenance and cost-effectiveness will surge the installation and adoption of grid connections. Widespread realization about the advantages of grid connected photovoltaic system is one of the main factors driving market growth. Furthermore, the need to reduce dependency and utilization of fossil fuels will further augment the grid connected PV systems market.
According to the report, details about the production and consumption graphs, along with revenue shares and segmental growth over the analysis period are outlined. The research also provides a comprehensive insight about the risks, challenges, driver, and opportunities impacting grid connected PV systems market growth.
In terms of type, the market is fragmented as inverters, power conditioning unit, grid connection equipment, and solar panels. While considering the application spectrum, the market is segmented as non-residential and residential.
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Based on the regional landscape, the global grid connected PV systems market is divided into five main regions; Russia, Germany, France, Italy, UK, and rest of Europe fall under Europe; Middle East & Africa is split into Turkey, GCC Countries, South Africa, Egypt, and rest of Middle East & Africa; North America comprise of Mexico, United States, and Canada; Asia Pacific consists of Vietnam, China, Malaysia, Japan, India, Thailand, Australia, Indonesia, Philippines, and South Korea; and Brazil and rest of South America come under Central & South America.
The prominent companies operating in grid connected PV systems market include Trina Solar, Canadian Solar, JinkoSolar, Hanwha Group, JA Solar, and Huawei Technologies.
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