According to a prediction by the year 2020, the market for the Photovoltaics will
According to a prediction by the year 2020, the market for the Photovoltaics will attain a growth rate of healthy 18 percent. It is all poised to touch the mark of $ 300 billion in the same year. Developed countries like China, Japan, and the USA are emerging as the biggest market for this source of energy. The advancements of the fourth industrial revolution can change the demand patterns associated with this industry and bring a hike in the demand.
The core technology behind Photovoltaics is solar technology. It is believed that solar technology will replace the conventional sources of energy in the future. Right now it is only a tokenism which is happening. Some of the biggest investors have already invested heavily in this industry sector based on the working models of the industries. Here we can name the concept of the reverse meters. Here they are sharing the consumption of energy with core sector players.
Research and development associated with the photovoltaic technology are going to play a vital role in the future. Any technical breakthrough bringing it closer to the regular options has the power to change the face of the energy-based industry sector. Solar energy can be considered as the most consistent and promising source of the energy. The arrival of better technologies can change the face of this industry in the future.
People across the world are welcoming this industry sector. Photovoltaic solutions clubbed together with the portable solutions have all the good reasons to make it to the mass markets. Most of the means to convert energy for domestic and small scale industrial uses are expensive and the price tag sometimes eats out a major chunk of the fruits garnering out of the activities. An addition of portability in the existing solutions has the power to change a few things in this industry sector and bring it at par with regular solutions.