According to a new report by ApacMarket.com titled, "Asia-Pacific Solar Energy Panel Market - Types, Mounting Systems, End Users, Trends, Opportunities, Growth and Forecast, 2013 - 2020", the APAC Solar Energy Panel Market would reach $37.8 billionby 2020, registering a CAGR of 14.8% during 2014 - 2020. Solar Panels function on the process of photovoltaics (PV), which is a method of generating electricity through the conversion of sunlight through different semiconductors. The technologies used in the generation of electricity, some of which include, mono and multi crystalline silicon, thin films, hybrid and black backed panel technology comprise of different raw materials. Strong government support across the countries in the Asia-Pacific region holds potential opportunities for the solar panel market. The impending need for the reduction of air pollution, carbon emissions and greenhouse gases has resulted in an increased adoption of solar panels. Energy diversification in India is essential to support the country's long term growth in solar energy power sources. The ADB (Asian Development Bank) has invested an amount of $100 million to support and empower solar power developers operating in the private sector. The Asia-Pacific Solar Energy Panel market generated a revenue of $14.9 billion in the year 2013.
To view the report, visit the website at: http://www.apacmarket.com/top-market/asia-pacific-solar-energy-panel-china-japan-india-korea-market
Technology improvements and a rise in the demand for solar PV's should present potential opportunities for this industry in the near future. Government subsidies, eco-friendly technology and the decreasing costs of raw materials are key factors that supplement the growth of this market.
Key findings of the study:
The Asia-Pacific countries are commendably promoting the clean energy concept with large scale solar installations across the region. Solar panels are rapidly gaining acceptance and are largely used in the making of rooftops, industrial parks, utility lands, and even backpacks. In what proved to be a revolutionary concept, Japan implemented large scale installations of solar panels on water bodies across the country. Japan, presently is in the process of conceptualizing the largest floating solar installation in the world that possess a capacity to generate 15,635 megawatts of energy, annually. Frequent earthquakes and the nuclear plant tragedy has gravely hampered the energy sector of Japan. Following this, Japan has strengthened its approach towards the sources and applications of renewable energy.
The impending need for clean energy favored with strong government initiatives in major countries of the Asia-Pacific, supplement the increase in adoption of solar panels in this region. Adani Enterprises Ltd. in association with the Government of Rajasthan has announced to set up India's largest solar park with a capacity to generate 10,000 MW of electricity.
The National Development and Reform Commission (NDRC) of China has set new production targets for solar capacities to reach a minimum of 70 GW by 2017. This move should remarkably boost the solar panel market in China.
With cutting edge innovative solution, ApacMarket.com is a world leader in providing market research strategies in Asia Pacific region. We make a comprehensive coverage of Asia Pacific market so that you understand your customers and markets in-depth. Offering unbiased data and minute details of this region, ApacMarket.com ensures you and your organization best research strategies to implement. Keeping your organization's need in mind, our team of experts provides you with the finest of market and customer information along with socio-economic status of the region.
We operate on multi-knowledge chain to provide you with deep analysis, useful information, actionable insights that will help you and you're organization in strategically planning your business moves. Our highly qualified and well experienced analysts will give you a deep understanding of local, national and global events that will prove immensely beneficial to your business needs.
ApacMarket.com formed with the intention to deliver best research services; provides you with unmatchable actionable business insights and solutions. ApacMarket.com has demonstrated high potential to locate opportunities for business expansion. We have a powerful knack to present the ground realities of your consumers and markets like no one else.
101 Miller Street, North Sydney
Level 32, North Sydney, NSW 2060
Toll Free: +1-800-765-615 (International)
Landline: +91 (20) 60604041 (India)
Web - http://www.apacmarket.com