Technavio Says Extensive Production of Solar Panels Will Propel the Growth of the Solar Power Market in China Through 2019
By Business Wire News
Technavio, a tech-focused research firm, has published a new report on the solar power market in China,which is expected to grow at a CAGR of over 26% from 2015-2019.
The new Technavio report draws attention towards the environmental impact China has with its high coal consumption, which has been the main reason for more than half of the global carbon dioxide emission growth in the last 10 years.
“Installing solar power can help reduce environmental damage, as solar energy emits only 99 kW of carbon per hour, thus proving to be a more environmentally friendly source of energy,” says Faisal Ghaus, Vice President of Technavio.
The report also emphasizes the high production of solar panels and China being the leading solar panel manufacturing hub. Extensive solar panel production and the availability of raw materials, such as polysilicon, at very low prices are expected to elevate the growth of the market.
“The Chinese government is providing financial support to encourage the development of the solar manufacturing industry, thus many vendors have heavily invested in setting up manufacturing facilities in China, which has significantly boosted the production of solar panels in the country,” adds Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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