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The solar panels market size is forecast to increase by USD 53.4 billion at a CAGR of 7.82% between 2023 and 2028. The market is experiencing significant growth due to increasing investments in the renewable energy sector, driven by tax rebates and the Renewable Energy Directive. The global shift towards electricity generated from renewable sources, as opposed to traditional sources like oil and coal, is a major trend influencing market growth. Technological advancements, such as the development of high-efficiency photovoltaic cells and photovoltaic glass, are further boosting market expansion. However, the intermittent nature of solar power remains a challenge, necessitating the need for energy storage solutions and grid integration. The land requirement for solar panel installations is also a consideration, as is the cost competitiveness of solar energy with conventional sources. Overall, the market is poised for continued growth, driven by government incentives, technological advancements, and the global transition towards renewable energy sources.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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