The report titled “Solar Photovoltaic (PV) in Mexico Market Outlook to 2030 Update 2017”, provides a comprehensive analysis of solar photovoltaic (PV) technology market. This report covers need for energy, factors driving the growth of solar photovoltaic (PV) technology market, factors restraining the growth of the solar photovoltaic (PV) technology market, leading players, applications of the solar photovoltaic (PV) technology, new technologies involved in solar photovoltaic (PV) devices and future growth of the solar photovoltaic (PV) devices over the coming years.
Energy is very essential for human existence and improvement of human life-style. Almost all the major energy productions are from fossil fuels, which are non-renewable and significantly pollute the environment. Access to clean and reliable energy is very essential for all the developing countries globally. Mexico is a developing country and its economy depends on the production of energy. Mexico is a country with great solar photovoltaic potential and is the leading producer of solar energy in Latin America. The country has a potential to develop a large, thriving solar market because the region experiences high levels of solar radiation.
Industry Overview: The fluctuating price of fossil fuel and disasters like Fukushima and Chernobyl are increasing serious questions about nuclear power. Therefore, renewable sources of energy are essential for the world’s growing need for power. Solar energy is the largest renewable energy source available on the Earth. The solar energy farms are easy to establish which can be connected to collect and distribute electricity or the electricity produced is diverted to the grid. The major factors driving the growth of the solar photovoltaic (PV) technology market are the falling costs, government policies, private partnerships, downstream innovation, expansions, and introduction of various incentive schemes for the use of renewable energy for power generation. High initial investment, intermittent energy source, and the requirement of large installation area to setup solar farms are restraining the growth of the solar photovoltaic (PV) technology market.
Technological Advancements: Solar cells are known as photovoltaic (PV) cells that convert sunlight directly into electricity. PV (photovoltaic) is a process of converting light (photons) to electricity (voltage) known as the PV effect. It was discovered in 1954 and was used to power space satellites and smaller items like calculators and watches. Initially, traditional solar cells are made from silicon which is usually flat-plate and they are most efficient. The second-generation solar cells are called thin-film solar cells because they are made from amorphous silicon or non-silicon materials such as cadmium telluride. Thin film solar cells are used for rooftop shingles and tiles, building facades, or the glazing for skylights. The third-generation solar cells are made from a variety of new materials other than silicon, such as solar inks using conventional printing press technologies, solar dyes, and conductive plastics. Many new generation solar cells use plastic lenses or mirrors to concentrate sunlight onto a very small piece of high efficiency PV material. These PV materials are more expensive, because very little is required. High efficiency PV materials are becoming cost effective for use for utilities and industries.
Major Players in Solar Photovoltaic (PV) market in Mexico: Mexico’s solar power market is divided based on the type such as concentrating type, non concentrating type, fixed array, single axis tracker, and dual axis tracker. The solar power market is again categorized based on materials such as Crystalline Silicon, Thin Film, Multijunction Cell, Adaptive Cell, Nano crystalline, and others. The leading companies in the Mexican solar PV technology are Comision Federal de Electricidad, ABB Ltd., Isofoton S.A., First Solar, Inc., and GRUPOTEC SOLAR.
Way Forward for Solar Photovoltaic (PV) market in Mexico: The installed photovoltaic capacity has increased rapidly over the recent years and the cost of solar power has reduced drastically over the recent years. Many initiatives were taken on an international level by governments and private organizations to promote research and development in solar power field. The reduced cost has made solar technology, especially solar PV technology, more accessible. The increasing population along with the increasing demand for electricity is a major factor driving the growth of the solar PV technology. It was observed that there is a development in battery storage technology, growth of rooftop solar installations that will in the long-term help overcome the restraints associated with the development of solar PV technology.
A lot of effort is made by in the Mexican researchers to make solar panel production easier, cheaper, smaller, sleeker and more customer friendly. This is mainly to increase the efficiency of solar panels using solar PV technology. Various techniques such as Nano-crystalline solar cells, thin film processing, metamorphic multi-junction solar cell, polymer processing and many more will surely help the growth of this industry in the near future.
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Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com