Global solar panel market to reach $180.7 bn by 2021: Report

PUNE, September 30: The stability of the solar panels market leads to a new and irreversible positive thrust and market development is certain to occur, only with a question of 'how fast?' The report - Solar Panels: Market Shares, Strategies, and Forecasts, Worldwide, 2015 to 2021 by  WinterGreen Research - forecasts a $180.7 Billion value by 2021. Worldwide solar panels market is growing as units become more efficient and less costly for generating electricity. Rapid adoption of solar panels, globally, is occurring as systems provide peak power efficiently. Solar panels market driving forces relate primarily to the prospect of inexpensive, lasting energy from the sun. In 2015, analysts agree, a tipping point has been reached, solar panel markets are at the critical point in the market development, where an inevitability of adoption is certain. Solar panels market has been an up and down evolving situation that was completely dependent on government subsidies. Solar panels market has crossed a threshold and gains will possibly have significant momentum, triggered by the technology. Solar panel adoption is now a dynamic process of innovation, insight, and influence through advocacy. The critical point in solar panel market adoption is a process that is now unstoppable. The growth of solar has been driven by a single paradigm at the federal and state levels worldwide.  China has had government subsidies for a long time. This continues to be the case, but in China now, grid parity is a result of taxing coal electrical generation, making solar panels attractive. The US is poised to see rapid adoption of solar panels market in various regions.