PERC Solar Panels Market Size, Share & Industry Analysis, By Type (Mono-crystalline, Polycrystalline), By Application (Residential , Commercial , Industrial), By Mounting (Rooftop , Ground-mounted), By Installation (On-grid, Off-grid, Hybrid) And Regional Forecast, 2024-2032

PERC stands for 'passivated emitter and rear contact' or 'rear cell.' Solar panels made with PERC cells have an extra layer on the back of traditional solar cells. This extra layer can capture more sunlight and convert it into electricity, making PERC batteries more efficient than conventional batteries.

The demand for PERC solar panels is increasing continuously owing to urbanization and growing global energy demand. PERC solar panels help reduce pollution and dependence on electricity. Furthermore, it is estimated that increased environmental regulations related to carbon emissions will drive the demand for PERC solar panels in the coming years. It is expected that government initiatives related to renewable energy in rural and urban areas will soon increase the demand for these panels.

• U.S. EIA (Energy Information Administration) states that global energy demand is expected to expand 47% over the next 30 years, owing to population and economic expansion.

PERC is a relatively mature technology and cannot drive much higher efficiency than the existing top batteries. Alternates like TOPCON technology are the next-generation PERC technology, and like its predecessor, they can be added to traditionally manufactured batteries. Compared with PERC, it may produce further efficiency improvements. These factors are likely to hinder the market growth.

North America is dominant in the global market. The region is well developed and is investing in various renewable energy sources. Furthermore, several govt initiatives by adapting renewable leading the market in this region

• Based on the stated report of SEIA (Solar Energy Industries Association), In Q3 2021, the United States installed 5.4 gigatonnes (GWdc) of solar P.V. capacity, bringing total installed capacity to 113.5 GWdc, enough to power 21.8 million American homes.

IMPACT OF COVID-19 ON THE PERC SOLAR PANELS MARKET

The global PERC solar panel market is expected to take a significant amount of time before recovering from the impact of the COVID-19 pandemic. China is a substantial producer of raw materials to manufacture PERC solar cells. The supply chain disruptions caused by the COVID-19-induced shutdown negatively influenced the market in 2021.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in PERC solar panels


• Key Industry Trends


• Regulatory Landscape for PERC solar panels


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

 ANALYSIS BY TYPE

Based on type, the global PERC solar panels market is segmented into mono and polycrystalline. The Mono PERC solar panel has greater flexibility and can provide end-users with various placement and tilt options without compromising efficiency leading to a major demand compared with polycrystalline PERC panels.

ANALYSIS BY APPLICATION

Based on application, PERC solar panels market is divided into residential, commercial, and industrial. The industrial segment is expected to dominate the market during the forecast period. PERC is a relatively mature technology; that's why many solar manufacturers use PERC. Other conventional technologies currently used to improve the efficiency of solar cells are tunnel oxide passivating contacts, heterojunctions, and perovskites.

ANALYSIS BY MOUNTING

Based on mounting, the global PERC solar panels market is divided into rooftop and ground-mounted. The residential sector will likely witness a growth in the ground-mounted segment. While the rooftop mount is less expensive, it can cause other issues for residential areas. Owing to these factors, the ground-mounted segment will dominate the market.

ANALYSIS BY INSTALLATION

Based on the installation, PERC solar panels market is divided into on-grid, off-grid and hybrid systems. The hybrid systems will dominate the market. They combine solar energy and battery storage into one and come in many different shapes and configurations. Hybrid systems can also use cheap off-peak electricity to charge the battery.

REGIONAL ANALYSIS

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Europe holds a significant share in the global market. Countries in the area are striving to generate energy via solar panels to achieve the renewable energy target set b the European Union. The site focuses on becoming carbon neutral by 2030 by reducing fossil fuels and shifting toward green energy.

The Asia Pacific also witnesses an emerging share in the global market. Investment in the renewable energy sector has increased before the rapid pace of China, India, Japan. In the Asia-Pacific region. China's most extensive solar energy base is the largest manufacturer of solar panels globally. This will help promote the PERC solar panel market in this area

 KEY PLAYERS COVERED

The report will include profiles of key players such as Adani Group, P.V. Cell technologies, aleo solar, Alpha Solar, Evolve Energy Group, Trina Solar, Bauer Solar GmbH, Jiangsu Akcome Solar Science & Technology Co, Amerisolar, Enfo Solar, and J.A. Solar.

SEGMENTATION

 KEY INDUSTRY DEVELOPMENTS

• In  2021, Adani announced that it will begin commercial manufacturing of 540Wp mono PERC modules in 2022, with ambitions to launch 640Wp modules by the end of 2023.


• In 2020, Trina Solar announced its Key State Photovoltaic (P.V.) Science and Technology Laboratory (PVST) (SKL) was using only standard manufacturing equipment to manufacture Post Launch Passivated Cells (PERC) with an energy conversion efficiency of 23.39%.