Solar PV Backsheet Market Trends

Growth Drivers

• Increased Investment in Solar Energy Farm and Station Construction and Infrastructure- Solar power generation technologies is assisting in the battle against catastrophic climate change. Solar panel power generation, for example, is a low-polluting power generation segment with lower carbon emissions than conventional energy sources such as petroleum, oil, and coal. The initialization of governments throughout the world to deliver 100% electric energy using renewable energy, including solar power sources, anticipates worldwide solar PV backsheet market growth. Solar accounted for 54% of all new electric capacity added to the grid this quarter. Solar's growing competitiveness against other technologies has enabled it to rapidly raise its proportion of total US electrical output, from 0.1% in 2010 to roughly 5% now.
• Increased Demand for Clean and Environment-Friendly Energy Sources- The worldwide solar backsheet industry is expanding as demand for sustainable energy grows globally. Many countries are increasingly turning to renewable energy sources through different ways such as renewable energy transformer. Solar energy is the most widely used among the various sources due to the availability of government incentives and tax breaks for the installation of solar panels.
• Advancement in the Photovoltaic industry- The technological innovation and continued expansion of the photovoltaic industry are forecasted to boost the growth of the market in the near future.

Challenges

• High Cost of Installation Space Required- The high cost of solar panel installation is a major restraint for the solar backsheet business. Along with the high expenses, a specific quantity of land must be provided for the installation of the panels; the needed amount of area grows in proportion to the amount of energy required. The space cannot be used for any other purpose after the panels have been installed, which limits the expansion of the solar backsheet business.
• Lack of Proper Infrastructure in Developing Countries.
• Lack Of Awareness Amongst the People.