21/01/2018
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Renewable Business

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According to data provided in a report by Zion Market the global Solar Panel Market accounted for USD 30.8 billionin 2016 and is expected to reach USD 57.3 billion by 2022, growing at a CAGR of 10.9% between 2017 and 2022. The report indicates that the industry is segmented into residential, commercial and utility. The commercial application segment accounted for the largest portion of the market share in 2016, and the segment is expected to dominate the market in terms of revenue by the end of forecast period despite relatively low growth rates. Residential and utility segments are projected to have higher growth rates during the forecast period due to the increasing awareness, cost efficiency and preferences towards the rooftop solar panel. Solar Integrated Roofing Corporation (OTC: SIRC), Vivint Solar Inc (NYSE: VSLR), Sunrun Inc (NASDAQ: RUN), SunPower Corporation (NASDAQ: SPWR), Enphase Energy Inc (NASDAQ: ENPH)

On October 5th the U.S. Deputy Secretary of Energy, Dan Brouillette, started the Solar Decathlon 2017 event in Denver, CO. This international competition shows consumers how to save money and energy with affordable energy products available today, energy.gov reported. “The Solar Decathlon inspires and challenges college students to think creatively about energy innovation for the future through design,” said Brouillette. “Students are actively addressing global energy challenges such as reliability, resiliency, and security by incorporating the use of innovative energy and water efficiency technologies into their professional projects.”

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