Solar Energy

The Solar Power Market

Solar energy is the technology of harnessing energy from sunlight to produce heat and electricity. The main industry segments in solar power are based around solar photovoltaic and solar thermal technologies. Photovoltaic devices convert the energy contained in sunlight directly into electricity using modules composed of multiple PV cells. Solar thermal technologies collect the sun's radiant energy to create a high-temperature heat source that can be converted into electricity via a number of thermodynamic conversion cycles.

Solar power technology, first used in the space program in the late 1950s, has experienced growing worldwide commercial use for over 25 years in both on-grid and off-grid applications. Solar power has emerged as one of the primary distributed generation technologies seeking to capitalize on the opportunities resulting from trends affecting the electric power industry. Solar power systems comprised of multiple solar modules along with related power electronics.

The solar industry is, by all accounts, an emerging industry. While overall market penetration of solar in the electricity market still remains very small, the interest in the Public for environmental reasons and governments for energy security and diversification reasons is driving a rapid increase in demand.

Demand for solar has increased recently for a combination of reasons, but the primary driver is the increase in government incentive programs. Japan and Germany have led the way, but several other countries will likely be starting or expanding similar incentive programs.