Market overview:
It is a photovoltaic (PV) system that produces electricity from the photon energy of sunlight. There is a wide variety of solar generators available in the market in different sizes and capacities depending on the needs and requirements of the consumer. Over time, growing electricity shortages around the world and the resulting demand for backup power have driven sales of solar generators. These generators do not emit harmful fumes like gasoline generators and can power homes for as long as needed.
Recent developments:
The Australian subsidiary of German renewable energy specialist juwi AG has signed an agreement with Transalta to design, supply, build and integrate a hybrid solar battery power plant for BHP's Nickel West mine in Western Australia. The hybrid power plant is expected to be operational in November 2022, after which juwi will take over the operation and maintenance of the plant.
Market Drivers and Restrains:
Solar generators are inexpensive; they require a minimum investment and fuel for their operation; generate zero pollution; and it can store energy for future purposes. Due to these factors, they are increasingly used for the production and distribution of electricity around the world. The imbalance between electricity supply and demand, due to rapid urbanization and increasing populations, has ultimately led to electricity shortages in many areas where solar generators can play a vital role in reducing these shortages. In addition, the market is influenced by growing concern about climate change, which has raised awareness about the use of renewable resources such as solar, hydroelectric and wind energy. For this reason, the governments of several countries encourage investment in renewable resources by offering tax exemptions and incentives. These initiatives lowered the prices of solar generators, which boosted their sales. Looking ahead, the publisher expects the global solar generator market to show moderate growth over the next five years.
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https://www.marketdataforecast.com/market-reports/industrial-solar-generator-market
Report is segmented as:
By Type:
• Below 40 KWH
• 40- 80 KWH
• 80-150 KWH
• Over 150 KWH
By Application:
• Electrical industry
• Oil and gas industry
• Others
Geographical Segmentation:
North America is expected to have the largest market share during the forecast period due to increased government support for solar installation, as well as lower prices for solar panels.
Impact of COVID-19 on Industrial Solar Generator Market:
The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the epidemic is varied. While some industries will see lower demand, many others will remain unscathed and show promising growth opportunities. COVID-19 will have a significant impact on the industrial solar generator market.
Key market players:
The major players in the market are Juwi, Ameresco, Intech Clean Energy, REC Solar, Jakson Group, REDAVIA, Kirchner Solar, Carnegie Clean Energy, Photon Energy, Enviroearth.