Government Implementing Various Initiatives to Support The Growth Of Renewable Energy is Accelerating the Thin-Film Solar Panel Market in the Europe Region!

• Vikas Kumar
• November 15, 2023
• ENERGY & POWER, NEWS
• Thin-Film Solar Panel, Thin-Film Solar Panel Market, Thin-Film Solar Panel Market analysis, Thin-Film Solar Panel Market forecast, Thin-Film Solar Panel Market growth, Thin-Film Solar Panel Market share, Thin-Film Solar Panel Market trends
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For the past few years, France has been actively involved in the research and development of thin-film solar panels. Academic institutions, research centers, and companies have been conducting various experiments to improve the efficiency of thin-film solar technologies. Various manufacturers in the country are focusing on producing flexible thin-film solar panels using organic photovoltaics technology to manufacture thin-film solar panels. Furthermore, the government implementing various initiatives such as financial incentives, feed-in tariffs, and research grants to support the growth of renewable energy which is expected to create a favorable environment for the development and deployment of thin-film solar panels. For instance: In 2017, A solar support scheme for large-scale photovoltaic installations on buildings. A feed-in tariff (for installations between 100 and 500 kilowatts) or a feed-in premium (for installations comprised between 500 kilowatts and 8 megawatts) over twenty years of installations.

Further, Europe acquired a significant share of the Thin-film Solar Panel Market. Factors such as the growing number of manufacturers in solar panels investing in next-generation technology such as thin-film solar panels for residential and commercial applications is accentuating its market demand.

• Based on the Type, the market is segmented into amorphous, cadmium telluride (CdTe), and cooper Gallium Indium Diselenide (CIGS). The cadmium telluride (CdTe) segment is expected to witness significant growth during the forecast period. Cadmium telluride (CdTe) panels are the most popular type of thin-film technology used in installations today. These panels are made up of several thin layers: one main renewable energy-producing layer made from the compound cadmium telluride, and surrounding layers for electricity conduction and collection. One of the most well-known manufacturers of CdTe panels is First Solar, an American company headquartered in Tempe, Arizona.
• Based on the application, the market is bifurcated into residential and commercial. The residential segment caters to a significant share of the thin-film solar panel market. As thin-solar panels require large space for their installation on rooftops and generate inexpensive solar electricity that withstands variable loads like rough wind conditions. Increasing integration of smart and energy-efficient buildings along with rising awareness in residential consumers to suffice additional energy demand is anticipated to further propel the industry size.

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Global Thin-film solar panel Market Segmentation

Market Insight, by Type

• Amorphous
• Cadmium Telluride (CdTe)
• Copper Gallium Indium Diselenide (CIGS)

Market Insights, by Application

• Residential
• Commercial

Market Insight, by Region

• North America
  •  U.S.
  •  Canada
  •  Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • Australia
  • Rest of APAC
• Rest of the World

Top Company Profiles

• First Solar Inc.
• Kaneka Corporation
• Solar Frontier K.K.
• NanoPV Solar Inc.
• SoloPower Systems, Inc.
• ENF Solar
• Flisom
• Met-Solar
• Enecom Power
• Antec Solar