Iran Solar Photovoltaic (PV) Cell

Iran Solar Photovoltaic (PV) Cell

PV materials and devices convert sunlight into electrical energy. A single PV device is known as a cell and a single PV cell produces about 1 or 2 watts of power. They are connected in chains to form larger units known as modules or panels. They are the main component in solar energy which is the highest-growing renewable energy source in the world. Solar PV generation increased by 22%, an amount of 179 TWh in 2021 to exceed 1,000 TWh overall power. Solar PV is one of the lowest-cost options for electricity generation in most of the world. Solar PV accounts for nearly 3.6% of electricity generation globally and it is the third largest renewable electricity technology behind wind and hydropower.

The Iran Solar Photovoltaic (PV) Cell Market is expected to grow at a strong CAGR of 19.2% during the forecast period. It is mainly owing to the government programs and incentives to promote cleaner renewable energy in order to meet climate change policies. Moreover, the need to meet net zero emission goals across the globe in various countries and rising consumer awareness towards environmentally friendly energy is acting as a catalyst in the growth of Iran Solar Photovoltaic (PV) Cell during the projected period. Programmes such as the Iran government planning to build 110,000 solar power stations with a five-kilowatt (KW) capacity for low-income families in the coming years have sparked the interest of solar PV investors in the region.

Furthermore, key players in the market are also launching new products and technology to increase the yield of Solar Photovoltaic (PV) Cell products and produce more environmentally friendly products not based on silicon in the projected period. Iran is becoming one of the most prominent locations for solar PV. Projects such as the 1.5 megawatt (MW) photovoltaic installation, which was completed by Shahrekord Cement Industries Company, an Iranian cement producer, show that the Iranian market is growing. A large-scale PV plant capable of producing 10 MW was recently completed by Gostaresh Energy in Yazd Province in central Iran, and a project of similar size led by Carlo Maresca, an Italian company, was installed on Qeschm Island. Inverters with an operating range from -40 to +60 were selected for these projects. Moreover, The head of Iran’s Renewable Energy and Energy Efficiency Organization, SATBA, has stated that his organization intends to establish at least a solar park in every province in partnership with Iran Small Industries and Industrial Parks Organization or ISIPO.

• Based on deployment, the Iran Solar Photovoltaic (PV) Cell market is bifurcated into Rooftop and Ground-Mounted segments. The rooftop segment acquired a majority share in the Solar PV market and is expected to register a substantial growth rate during the forecast period. A Rooftop PV system means a PV system that has electricity-generating solar panels mounted on the rooftop of a building or structure. Most rooftop PV systems are usually residential and much smaller when compared to utility-scale solar ground-mounted systems. Most residential rooftop PV systems are in the range of 5-20 kW while commercial rooftop-mounted systems can range from 100 kW to 1 MW. many large rooftops have built industrial-scale PV systems in the range of 10 MW.
• Based on capacity, the Iran Solar Photovoltaic (PV) Cell market is bifurcated into rooftop capacity and ground-mounted capacity segments. The rooftop capacity segment is further bifurcated into Below 10 kWp, 10-20 kWp, 20-30 KWp, 30-100 kWp, 100-500 kWp, and Above 500 kWp. The ground-mounted capacity segment is further bifurcated into Below 750 kWp and Above 750 kWp. The rooftop capacity segment is growing due to government subsidies and high demand from consumers for Solar PV, whereas the ground-mounted segment is driven by government policies and upcoming large-scale solar power generation projects.
• Based on technology, the Iran Solar Photovoltaic (PV) Cell market is divided into Thin Film, Multi-Crystalline Silicon, and Mono-Crystalline silicon segments. The Mono-Crystalline silicon segment acquired a majority share in the Solar PV market and is expected to register a substantial growth rate during the forecast period. The shift to more efficient monocrystalline solar PV accelerated in 2021, with the technology capturing almost all crystalline PV production.
• Based on End User, the Iran Solar Photovoltaic (PV) Cell market is divided into Residential, Commercial & Industrial, and Utility-scale segments. The Utility-scale segment acquired a majority share in the Solar PV market and is expected to showcase a substantial growth rate during the forecast period. Utility-scale PV remains the most competitive source of PV generation; however, building large-scale installations is becoming increasingly challenging in many regions of the world due to the lack of suitable sites. Moreover, Solar PV is the main choice for the private sector if they want to invest in renewable energy. Companies investing in distributed (including rooftop) solar PV installations on their commercial buildings and premises are responsible for around 30% of the total installed PV capacity, moreover, Companies are entering into corporate power purchase agreements with solar PV plant operators which would drive the market for solar PV during the forecast period.

Some of the major players operating in the market First Solar Inc., Astronergy (Chint Solar Co. Ltd.), JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd., Canadian Solar Inc., JA Solar Technology Co., Trina Solar Co. Ltd., Risen Energy Co. Ltd., Suntech Power Holdings Co. Ltd., and Hanwha Q CELLS Co. Ltd.