PERC Solar Panels Market By Type (Mono-crystalline, Polycrystalline), By Application (Residential, Commercial, Utility), By Mounting (Roof-top, Ground-mounted), By Installation (On-grid, Off-grid, Hybrid): Global Opportunity Analysis and Industry Forecast

PERC Solar Panels Market By Type (Mono-crystalline, Polycrystalline), By Application (Residential, Commercial, Utility), By Mounting (Roof-top, Ground-mounted), By Installation (On-grid, Off-grid, Hybrid): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global PERC solar panel market is anticipated to reach $304.9 billion by 2032, growing from $140.4 billion in 2022 at a CAGR of 8.2% from 2023 to 2032.

A sort of solar panel technology known as PERC increases the effectiveness of photovoltaic (PV) cells. The PERC design tries to boost solar panels' energy output by minimizing energy loss brought on by recombination and reflection. In a PERC solar panel, a layer of material is applied to the PV cell's back side to reduce the amount of electron recombination there. Recombination can be decreased so that more electrons are accessible to produce power, increasing total efficiency.

There is a global push to transition to renewable energy sources due to increasing concerns about climate change and the limited availability of fossil fuels. Solar power stands out as a clean and abundant energy option and PERC solar panels have emerged as a highly efficient technology within the solar industry. Moreover, PERC solar panels offer substantial environmental benefits compared to conventional energy sources. By harnessing sunlight and converting it into electricity these panels generate power without emitting greenhouse gases or other harmful pollutants. This characteristic aligns with the goals of reducing carbon emissions and mitigating climate change. PERC solar panels enable users to generate their electricity, reducing reliance on traditional power grids and mitigating the impact of potential energy crises or disruptions. Many governments worldwide have implemented supportive policies and financial incentives to promote renewable energy adoption. These measures include subsidies, tax credits, net metering programs, and feed-in tariffs, which make it financially attractive for individuals and businesses to invest in PERC solar panels.

Solar panels' efficiency may decrease due to reasons such as potential-induced deterioration and light-driven degradation. Furthermore, mono-PERC solar panels are susceptible to efficiency losses. Continuous exposure to high temperatures might cause a progressive deterioration in overall performance. These are the major factors projected to hamper the market revenue growth. When evaluating the long-term efficiency and performance of solar panels, several elements must be considered. Regular maintenance and monitoring can assist reduce degradation and maximize the performance of solar panel installations.

PERC solar panels exhibit better performance in high-temperature conditions compared to conventional panels. PERC solar panels are designed to reduce electron recombination on the rear surface, leading to improved power output. In high-temperature environments, conventional solar panels tend to experience a decrease in efficiency due to increased electron recombination. However, PERC panels can maintain higher power output, making them more efficient and productive in hot climates. This enhanced energy production is attractive to both residential and commercial solar installations. Moreover, the superior performance of PERC solar panels in high temperatures makes them well-suited for installation in regions with hot climates. Areas such as deserts or tropical regions, where the ambient temperatures can be consistently high, can benefit greatly from the deployment of PERC panels. These regions often have abundant sunlight and can now harness that energy more effectively due to PERC technology. High temperatures can put a strain on solar panels, affecting their lifespan and long-term performance. PERC panels' ability to handle high-temperature conditions more effectively can lead to increased reliability and durability. This advantage is crucial for solar installations in regions prone to heat stress, as it helps minimize potential performance degradation and extends the lifespan of the panels. The unique benefits of PERC solar panels in high temperatures are expected to create opportunities for market players.

The COVID-19 pandemic had significant impacts on the market for PERC solar panels. The pandemic disrupted global supply chains, including the production and transportation of solar components. Manufacturing facilities faced temporary shutdowns or reduced capacity, leading to delays in production and delivery of solar panels, including PERC panels. Lockdown measures, economic uncertainties, and reduced consumer spending had the potential to impact the demand for solar installations. Projects were postponed or canceled, which affected the demand for PERC solar panels. The economic downturn caused by the pandemic made it more challenging for solar project developers to secure financing. This slowed down the deployment of solar projects, including those using PERC panels. Some governments implemented policy changes or shifted priorities in response to the pandemic, which affected the solar industry. Changes in incentives, subsidies, or regulations also impacted the adoption and deployment of PERC solar panels.

The key players profiled in this report include Sunnova Energy International, Inc., Jinko Solar, Canadian Solar, SolarEdge, First Solar, Inc., Trina Solar, JA Solar Holdings Co. Ltd., SunPower Corporation, Wuxi Suntech Power Co., Ltd., and REC Solar Holdings AS. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the perc solar panels market analysis from 2022 to 2032 to identify the prevailing PERC solar panel market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the perc solar panels market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global perc solar panels market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Mounting

Roof-top
Ground-mounted

By Installation

On-grid
Off-grid
Hybrid

By Type

Mono-crystalline
Polycrystalline

By Application

Residential
Commercial
Utility

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
United Arab Emirates
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Canadian Solar
First Solar, Inc.
JA Solar Holdings Co. Ltd.
Jinko Solar
REC Solar Holdings AS
SolarEdge
Sunnova Energy International, Inc.
SunPower Corporation
Trina Solar
Wuxi Suntech Power Co., Ltd.

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