Analysis of the future prospects of photovoltaic panel installation

What are the future prospects of solar energy?

4. Future prospects of solar technology Solar energy is one of the best options to meet future energy demand since it is superior in terms of availability, cost effectiveness, accessibility, capacity, and efficiency compared to other renewable energy sources , .

Why is the solar PV panel market so competitive?

The high level of competition in the solar PV panel market, mainly due to the future market demand in and the competitiveness of leading countries, is compounded by the fact that transporting solar energy equipment is less cumbersome than transporting other renewable technologies (such as wind).

How has the solar PV industry evolved in recent years?

The evolution of the solar PV industry so far has been remarkable, with several milestones achieved in recent years in terms of installations (including off-grid), cost reductions and technological advancements, as well as establishment of key solar energy associations (Figure 5).

What is the global installed capacity of solar PV in 2020?

Among these technologies, it is reported that the global installed capacity of solar PV in 2020 is 127 GW, accounting for more than 49% of the total new renewable energy capacity [ 9 ]. Whilst China market has contributed to 48.2 GW, with a cumulative installed capacity of 253 GW, accounting for one third of the global installed capacity [ 10 ].

How to predict the geographic potential of solar rooftop PV installation capacity?

The available area on the roof is the key parameter to predict the geographic potential of solar rooftop PV installation capacity. After considering roof azimuth, shadow effect between buildings and other uses of the roof, the roof availability coefficient is in the range of 0.25–0.46.

Is the future of solar PV employment bright?

Despite setbacks, there is reason to believe that the future of solar PV employment is nonetheless bright, given the urgency for more ambitious climate and energy transition policies, as well as the expectation that countries are learning important lessons on the design and coherence of policies.