Pune, India, Jan. 25, 2022 (GLOBE NEWSWIRE) — The global solar power market size is projected to reach USD 293.18 billion by 2028, exhibiting a CAGR of 6.9% during the forecast period. The market’s value stood at USD 170.55 billion in 2020, according to a report by Fortune Business Insights™.
Incorporation of AI in Solar Energy Management to Brighten Market Outlook
Artificial intelligence (AI) has proliferated across a wide range of industries and is transforming the solar industry as well. Governments and private companies are increasingly utilizing the power of AI to optimize the operations of solar power plants and augment solar projects. For example, the US Department of Energy (DOE) has deployed IBM’s AI software for its SunShot Initiative. The software combines cloud information, sensor networks, and local weather stations derived from sky cameras and satellite imageries. In Australia, New Energy Solar announced in March 2019 that it will be using cutting-edge predictive technologies at its Manildra Solar Plant, in partnership with the Canberra-based solar forecasting vendor, Solcast. The introduction of AI in solar management is, therefore, creating massive opportunities for stakeholders in the solar industry.
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What are the Report Highlights?
The Solar Power industry analysis report offers a comprehensive overview of the market and its major growth prospects such as drivers, restraints, challenges, and upcoming opportunities. It also throws light on the current industry trends, major developments, and other interesting insights useful for this market. It further discusses the nature of the market competition, a list of players, and their key strategies to stay put in the competition. It also describes the table of segmentation and the names of the leading segment with market figures. The report is provided on the company website.
List of Key Players Covered in this Solar Power Market Report:
- Vivaan Solar (India)
- Nextera Energy Sources LLC (U.S.)
- Urja Global Limited (India)
- SunPower Corporation (U.S.)
- Yingli Solar (China)
- First Solar (U.S.)
- BrightSource Energy, Inc. (U.S.)
- Canadian Solar Inc. (Canada)
- Azure Power (India)
- Wuxi Suntech Power Co. Ltd. (China)
- Acciona Energia S.A.(Spain)
- eSolar Inc. (U.S.)
- Trina Solar (China)
- Tata Power Solar Systems Ltd. (India)
- Abengoa (Spain)
- Waaree Group (India)
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Driving Factor
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