The solar battery market is growing due to growing demand for solar panels and a global shift towards renewable energy sources. Owing to the stringent laws implemented by governments across the globe to minimize the extra use of exhaustible and non-renewable energy resources, there is a surge in the use of eco-friendly solutions across the world. Solar PV systems are also broadly used in grid systems, which are connected to regional utility grids to fulfill ongoing energy needs around the world. The increasing demand for renewable energy sources, reduction in carbon emissions, and dependence on traditional fuels are the major factors for the growing demand for PV technology.
However, several dangerous and toxic elements are being used in the generation of PV systems which may hamper the market's growth. Along with this, the absence of sunlight or cloudy conditions may affect the working efficiency of PV technology, creating a barrier to its widespread adoption. Primitive investment is also significant in fully operating on PV technology, which may be a constraint to small enterprises. However, increasing demand for EVs is creating a lucrative opportunity for the market as it reduces dependency on traditional fuels while operating on battery systems. This is set to fuel growth in the solar battery market in the coming years.
East Penn Manufacturing (US), Exide Technologies (US), GS Yuasa (JP), LG (Korea), Samsung SDI (Korea), A123 Systems (US), First Solar (US), Bosch Solar Energy (GE), Panasonic (JP), Sanyo Solar (JP), TSMC (Taiwan), Yingli (CN), Canadian Solar (Canada), Alpha Technologies (US), BAE Batterien (GE), BYD (CN), Manz (GE), Sharp (JP), Kyocera (JP), Suniva (US), Honda (JP), Ascent Solar (US), AUO (Taiwan), EnerSys (US), EverExceed Industrial (CN), FIAMM (Italia), Hoppecke Batterien (GE), SAFT (France)
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Published by Shubham Desale
