Global Solar PV Tracker Market 2017-2021
About Solar PV Tracker
A solar photovoltaic (PV) tracker is a device that orients solar panels or heliostats toward the Sun. A solar PV tracker is used in solar panels, heliostats, and parabolic troughs to align them in such a position toward the sun so as to collect solar energy in the most optimal angle, thereby increasing the efficiency of PV systems. Fixed-mounted solar panels may lose their efficiency when the Sun passes to the less than optimal angle. A solar tracker system tracks the position of the Sun and moves solar panels such that they align accurately with the position of the Sun.
Technavio’s analysts forecast the global solar PV tracker market to grow at a CAGR of 22.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global solar PV tracker market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Solar PV Tracker Market 2017-2021
Technavio recognizes the following companies as the key players in the global solar PV tracker market: Arctech, Array Technologies, Convert Italia, First Solar, and NEXTracker.
Other Prominent Vendors in the market are: Abengoa, AllEarth Renewables, Edisun Microgrids, Exosun, GameChange Solar, Haosolar, Mahindra Susten*, Scorpius Trackers, Solar FlexRack, Soltec, Sun Action Trackers, SunLink, and SunPower.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of microgrid and green telecom. There has been an extraordinary development in the global telecom sector. Telecom operators have been installing new base transceiver stations (BTS) to support the explosion in data traffic. As per the World Bank, the global mobile cellular subscription per 100 persons increased from 84 in 2011 to 102 in 2016, which is driving the need for installation of additional BTS to provide a better network coverage, globally.”
According to the report, one driver in the market is declining cost of solar energy. In the past, the high cost and intermittent nature of renewables were the major hurdles to the adoption of solar energy. Energy storage technologies not only bridges the gap but also increases the penetration of renewable energy in hybrid systems. For instance, a typical solar PV normally converts approximately 15% of power. However, with the addition of a battery system, the power generated from solar PVs can go beyond 50%. Renewable penetration means the amount of renewables that can be added to the system output. For instance, a renewable penetration of 20% means that for 1 MW of installed generator capacity, 200 kW of renewable power can be added.
Further, the report states that one challenge in the market is competition from alternative sources of energy. Solar energy faces competition from other sources of energy such as wind, hydropower, and fossil fuels. According to the Wind Energy Council, the adoption of wind energy to generate electricity has been on the rise in the recent past, with the global addition of approximately 54.60 GW of capacity in 2016. The global cumulative wind power capacity stood at 496 GW in 2016 and targets over 800 GW of solar installations by 2021. The global offshore wind power capacity grew at a CAGR of 28.43% during 2011-2016. Wind energy contributed 46.56% to the total renewable energy investments in 2016.
Arctech, Array Technologies, Convert Italia, First Solar, and NEXTracker, Abengoa, AllEarth Renewables, Edisun Microgrids, Exosun, GameChange Solar, Haosolar, Mahindra Susten*, Scorpius Trackers, Solar FlexRack, Soltec, Sun Action Trackers, SunLink, and SunPower.
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