Riya Sharma

The global Solar Energy Market refers to the industry focused on harnessing sunlight to generate electricity using photovoltaic (PV) panels and concentrated solar power systems. This market is rapidly expanding due to rising environmental concerns, energy security needs, and supportive government policies promoting renewable energy adoption worldwide.

Solar energy has emerged as one of the fastest-growing renewable sources, significantly contributing to global electricity generation. Increasing investments in solar infrastructure and declining costs of solar panels are strengthening market growth. The transition toward low-carbon energy systems is further accelerating solar energy adoption across residential, commercial, and industrial sectors.

Global estimates indicate that the solar energy market is projected to grow at a strong CAGR over the forecast period. Installed solar capacity has witnessed exponential growth, surpassing several hundred gigawatts globally. This growth is fueled by favorable regulatory frameworks and technological advancements improving energy efficiency.