The global solar tracker market demand is expected to reach 172.0 GW by 2025, expanding at a volume-based CAGR of 32.0%, according to a new report by Grand View Research, Inc. Solar tracker is installed on a photovoltaic (PV) system to get an increased energy output during the day. The PV system helps to minimize the angle of incidence between incoming light and panel, thereby increasing the amount of energy produced.
The single axis segment is predicted to have the highest growth over the forecast years and is projected to witness a revenue-based CAGR of 30.6% from 2019 to 2025. Single axis tracker is economical than dual axis tracker and easy to maintain. The market is expected to witness substantial growth over the forecast period owing to growing need for renewable power generation, especially in the single axis segment.
When there is a huge solar energy spill, Its just called a “nice day”.
Climate awareness is growing among people with every passing day. Greta Thunberg, a Swedish 17-year-old school going girl showed the entire world the risks of climate change. This event also highlighted the rise in amount of awareness about climate in the world; proof of this can be seen from the popularity of Fridays For Future & massive support received by Greta from every nook and corner of the world. This awareness is the key reason as to why the world leaders are turning towards the renewables as the last resort to tightly balance both, the need of energy as well as climate sustainability.
When it comes to renewables, solar energy is one of the best substitutes to fossil-based energy resources. It is an infinite source of energy with unmatched potential, just waiting to be harnessed. In this scenario, infrastructure needed to harness solar energy becomes extremely important and has come a long way since its inception. Recent addition to this state-of-the-art infrastructure is solar tracker, which now has an important role to play and is used world over to increase the efficiency of solar panels. So much that, Solar Tracker Market is expected to grow at a CAGR of 32.0% from 2019 to 2025, according to a research report by Grand View Research, Inc.
Solar Trackers – What, Why & How?
Solar tracker is a product that aids in directing payloads towards the direction of sunlight. The payloads that are majorly used are parabolic troughs and solar panels. It maximizes your solar system’s electricity production by moving your panels to follow the sun throughout the day, which optimizes the angle at which your panels receive solar radiation. Solar trackers are typically used for ground-mounted solar panels and large, free-standing solar installations like solar street lights.
When solar panels are exposed to sunlight, the angle of incidence of the sunlight is strictly kept into consideration. Minimum the angle of incidence of sunlight, maximum the efficiency of the solar panels, leading to maximum charge deposition in solar cells. This is where solar tracker comes into the picture. It tracks the movement of sun and helps align the panels in such a way that angle of incidence remains minimum, leading to increased conversion of solar energy into electricity.
Browse Full Report (Tables & Figures) @ https://www.grandviewresearch.com/industry-analysis/solar-tracker-industry
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