SOLAR ENERGY
In 2018, the global solar energy market was estimated at $52.5 billion and is expected to hit $223.3 billion by 2026, rising from 2019 to 2026 at a CAGR of 20.5 percent.
Solar energy is the sun-emitted radiant energy that is harnessed by the use of different technologies, such as solar heating, photovoltaic cells and others. It is an effective source of unconventional energy and a convenient sustainable solution to increasing global warming and greenhouse emissions. Increases in environmental emissions and the availability of government incentives and tax rebates to install solar panels are driving the development of the solar energy industry. Moreover, the decrease in the water footprint associated with solar energy systems in the power generation sector has fuelled their market. Thanks to the boom in rooftop installations, the market for solar cells
has gained considerable momentum, accompanied by a rise in applications in the architectural field. In addition, demand for parabolic troughs and solar power tower is expected to raise demand for concentrated solar power systems in electricity generation