A recent report released from publisher Infiniti Research points to further growth for the global solar panel industry.
The report finds advances in photovoltaic (PV) technologies will help the global solar panels market to increase by a compound annual growth rate of 15.3% between 2011 to 2015, the report said.
However, despite the upward trend due to better technology, the report also noted fluctuating solar energy availability across seasons could challenge further advances in the market.
“The increase in R&D was another major prevailing trend in the Global Solar Panels market. In addition to reduction in policies, there were also favorable policies and procedures that existed for boosting the Global Solar Panels market,” said one of the analysts from the authorizing publisher in the statement.
The regions covered in the report included: the Americas, Europe, Asia, along with the Middle East and Africa.
First Solar Inc., Suntech Power Holdings Co. Limited, Trina Solar Limited, and Yingli Green Energy Holding Co. Limited will be the key vendors who will control much of the market, the report noted.
Source: PR Newswire
Image Credit: Engineers Checking Solar Panels Image via Shutterstock
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