Factors behind 9% growth of global tilt solar pv market

Research firm Technavio forecasts the global fixed tilt solar PV market to record a 9% growth over the next five years.The market’s incremental growth in terms of revenue is expected to be $1.16 billion during the period.The year over year growth is expected to be 8.02%.67% of the growth will come from the Asia Pacific region.The dominance of APAC can be attributed to the increase in solar power installations and the presence of financial incentive programmes in China, India, Australia, and Japan.The supportive government policies and regulations around solar pv will be a key driver of the fixed tilt solar pv market. Several countries are formulating policies for promoting the development of solar technologies while encouraging high investments in renewable technologies. Furthermore, several governments are also introducing separate policies for different types of solar PV installations. Therefore, with the rising installation of renewable energy driven PV systems, the demand for fixed tilt solar PV installation will increase considerably in the forthcoming years.