Powering the Future: Insights into the Off-Grid Solar PV Panels Market Growth
The global off-grid solar PV panels market size is expected to reach USD 4.84 billion by 2030, registering a CAGR of 8.47%, according to a new report by Grand View Research, Inc. Increasing adoption of renewable sources of energy owing to encouraging government policies is expected to boost the market growth. Rapid industrialization and population growth have resulted in a sharp rise in global demand for the electricity. The energy sector is apparently moving towards clean sources of power resulting in rise in the installation of solar panels, which in turn is expected to drive the industry growth. Additionally, major countries are planning to increase the installation of solar panels during the subsequent period, which is further estimated to propel the off-grid solar PV panels market during the projection period. Based on technology, thin films emerged as the largest segment for off-grid solar PV panels. The rise in implementation of clean sources of ene...