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Solar Photovoltaic Services Market size is set to grow by USD 24.32 billion from 2024-2028, Increasing new installations and aging asset base of solar PV modules to boost the market growth, Technavio

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NEW YORK, June 24, 2024 /PRNewswire/ — The global solar photovoltaic services market  size is estimated to grow by USD 24.32 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  18.69%  during the forecast period.  Increasing new installations and aging asset base of solar pv modules is driving market growth, with a trend towards developments related to solar pv modules. However, challenges associated with recycling of scrap from solar pv systems  poses a challenge. Key market players include ABB, Acciona SA, Amana Contracting and Steel Buildings LLC, Anesco Ltd., Avi Solar Energy Pvt Ltd., Canadian Solar Inc., ENcome Energy Performance GmbH, First Solar Inc., GCL System Integration Technology Co. Ltd., Hanwha Corp., JA Solar Technology Co. Ltd., Jiangsu Shunfeng Photovoltaic Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd., Risen Energy Co. Ltd., RWE AG, Sharp Corp., SunPower Corp., Trina Solar Co. Ltd., and Wuxi Suntech Power Co. Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Service (Installation services and O and m services) and Geography (APAC, Europe, North America, Middle East and Africa, and South America)

Region Covered

APAC, Europe, North America, Middle East and Africa, and South America

Key companies profiled

ABB, Acciona SA, Amana Contracting and Steel Buildings LLC, Anesco Ltd., Avi Solar Energy Pvt Ltd., Canadian Solar Inc., ENcome Energy Performance GmbH, First Solar Inc., GCL System Integration Technology Co. Ltd., Hanwha Corp., JA Solar Technology Co. Ltd., Jiangsu Shunfeng Photovoltaic Technology Co. Ltd., JinkoSolar Holding Co. Ltd., LONGi Green Energy Technology Co. Ltd., Risen Energy Co. Ltd., RWE AG, Sharp Corp., SunPower Corp., Trina Solar Co. Ltd., and Wuxi Suntech Power Co. Ltd.

Key Market Trends Fueling Growth

The Solar Photovoltaic Services Market is experiencing significant growth due to advancements in solar PV technology. Mono PERC and bifacial modules, which offer higher efficiency and conversion rates, are gaining popularity. Bifacial modules generate power from both sides, reducing balance of system costs and increasing power output by one-third. Advanced PERC technology integrates anti-light-induced degradation and passivation films, increasing efficiency and reducing costs. Half-cut cell modules, which reduce resistance loss and increase efficiency, are also on the rise. These innovations are driving market growth, making solar energy more cost-effective and efficient. 

The Solar Photovoltaic (PV) services market is experiencing significant growth, with increasing demand for solar power solutions. Markets are shifting towards solar power projects, particularly in the residential and commercial sectors. In 2022, the solar PV market size was estimated to be 600 billion dollars, with projections for continued growth. Key technologies include solar cells, solar panels, and solar inverters. Renewable energy technologies, such as solar, are becoming more cost-effective and efficient, making them a popular choice for businesses and individuals looking to reduce their carbon footprint. The market is also seeing advancements in energy storage solutions, allowing for greater grid independence and improved energy management. Solar PV is a trending industry, with many companies investing in research and development to improve efficiency and reduce costs. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The solar photovoltaic services market faces challenges due to the growing amount of solar PV scrap. With no standards for safe disposal, toxic materials like cadmium and lead pose risks to the environment if not handled properly. Damaged modules, often containing these hazardous substances, can contaminate soil and water if disposed of in landfills. Natural disasters can also damage modules, leading to additional costs for hazardous waste treatment. Manufacturers may pass these costs onto consumers, hindering market growth, particularly in countries lacking waste management infrastructure. Proper disposal solutions are crucial to mitigate these risks and ensure the continued adoption of solar PV technology.The Solar Photovoltaic Services Market faces several challenges. Capacity expansion and technology upgrades are key areas of concern. The industry requires significant investment in research and development to improve efficiency and reduce costs. Regulations and policies also impact the market, with technologies like thin-film solar and silicon solar having different regulatory requirements. The integration of solar power into the grid is another challenge, requiring solutions for energy storage and grid management. Additionally, the intermittency of solar power necessitates the use of predictive analytics and smart grids to ensure a consistent power supply. The market is dynamic, with new players and technologies constantly emerging.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This solar photovoltaic services market report extensively covers market segmentation by

Service 1.1 Installation services1.2 O and m servicesGeography 2.1 APAC2.2 Europe2.3 North America2.4 Middle East and Africa2.5 South America

1.1 Installation services-  The Solar Photovoltaic Services Market is experiencing significant growth due to increasing demand for renewable energy sources. Companies are offering installation, maintenance, and repair services for solar photovoltaic systems. These services ensure optimal system performance and energy efficiency. The market is driven by government incentives, technological advancements, and decreasing costs. Businesses and homeowners are investing in solar energy to reduce their carbon footprint and save on energy bills. The market is expected to continue expanding as more countries adopt renewable energy policies.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Solar Photovoltaic Services Market is experiencing significant growth, driven by the increasing adoption of renewable technologies such as Solar PV in the global energy mix. The Indian government’s Solar Policy 2022 aims to install an additional 6,000 MW of solar power capacity, with a focus on distributed solar power through rooftop solar panels. This includes the development of bonded warehouses spanning 100,000 square meters to facilitate the storage and trading of solar power. The installation costs for solar PV systems continue to decrease, making them increasingly competitive with traditional electricity sources. The South-Central Section of the electricity grid is expected to see significant growth in solar PV capacity, with the electricity grid infrastructure undergoing necessary upgrades to accommodate the intermittent nature of solar power. The integration of solar power into the electricity grid involves the use of photovoltaic cells, which convert sunlight into electrons through the movement of silicon atoms. Renewable technologies such as wind and bioenergy are also contributing to the energy mix, with solar PV playing a key role in the transition towards a more sustainable energy future.

Market Research Overview

The Solar Photovoltaic Services Market refers to the industry dedicated to the design, installation, and maintenance of solar photovoltaic (PV) systems. These systems convert sunlight into electricity, making them an essential component of renewable energy solutions. The market is experiencing significant growth due to increasing global awareness of sustainable energy sources and government incentives. Solar PV services include system design, site assessment, installation, commissioning, and ongoing maintenance and repair. The market is segmented based on geography, system size, and application. The use of advanced technologies, such as thin-film and monocrystalline silicon, is driving innovation in the sector. The market is expected to continue growing due to the increasing demand for clean energy and the declining cost of solar PV technology.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ServiceInstallation ServicesO And M ServicesGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

EcoCharge® and Balancell Partner to Drive Energy Efficiency in Africa with Advanced and Stable Charging Technologies

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CHRISTCHURCH, New Zealand, Sept. 24, 2024 /PRNewswire/ — Two advanced energy solutions companies are announcing a multi-year partnership to support the growing demand for reliable and efficient charging solutions across the African market. The IDEAL Industries, Inc. brand EcoCharge by Enatel®, a global leader in battery charging technologies, is supplying charging technology to Balancell, a cutting-edge battery manufacturer and energy supplier.

Empowering Africa’s Energy Transition

Africa is experiencing a dynamic shift toward sustainable energy and electric mobility. Global banks and investors funded $76.04 billion in solar, hydropower, and wind projects across Africa from 2012 to 2021. The investments supported renewable energy developments like Kenya’s Lake Turkana Wind Power Project, a $1.095 billion wind farm that boosted their total electricity supply by 13%. Electrification is also rising; Africa’s electric vehicle market is expected to nearly double between 2021 and 2027.

However, more work remains. Africa attracts less than 5% of the world’s energy investments, using only 11% of its hydropower potential and 0.01% of its wind potential. Over 40% of Africans still lack access to electricity.

To advance battery charging solutions in Africa, Balancell will leverage charging technologies from EcoCharge to electrify the African material handling fleet. This initiative will help reduce CO2 emissions and enhance charging efficiency.

“We are thrilled to be part of the renewable energy transition in Africa,” said Enatel General Manager Mike Clifford. “By partnering with Balancell, we are matching a leading-edge battery design with an advanced charger. We’re confident this winning combination will help our customers achieve faster charging, less energy waste, and higher performance.”

Partnering for Growth and Sustainability

Under the agreement, EcoCharge will supply Balancell with a range of chargers that meet the challenging needs of the African market, such as unstable electrical grids and harsh environments. These advanced chargers will be integrated into Balancell’s advanced industrial batteries, providing the perfect match for optimal energy management and control.

“Partnering with EcoCharge allows us to offer our customers superior charging solutions that are both innovative and sustainable,” said Paul Osborne, Director and Chief Financial Officer of Balancell. “This collaboration enhances our ability to deliver comprehensive energy solutions that support Africa’s transition to cleaner, more sustainable energy sources.”

Driving Innovation

EcoCharge chargers are known for their durability, efficiency, and adaptability, making them suitable for deployment in diverse and sometimes challenging environments across Africa. This partnership with Balancell not only strengthens the product offerings available to the African market but also underscores the EcoCharge commitment to continued innovation and investment in sustainable energy solutions.

To learn more about the transition to sustainable energy, visit: https://www.EcoCharge.net/

About EcoCharge®
EcoCharge leads the battery charging market with a range of high-quality products, including single phase chargers, three phase chargers and BMM’s. They are designed and manufactured in New Zealand to ISO9001 standards and carry global compliance marks.

About Enatel®
Enatel is a world leader in power conversion and battery charging technology based in Christchurch, New Zealand. The company specializes in developing high-efficiency and sustainable charging solutions for a variety of applications.

To learn more about the transition to sustainable energy, visit: https://www.enatel.net/

About IDEAL INDUSTRIES, INC.
IDEAL INDUSTRIES, INC. is a global, diversified 108-year-old family-owned business that designs and manufactures superior products for the electrical, power management and industrial charging industries.

For more information, visit www.idealindustries.com.

About Balancell
Balancell is a leading provider of energy solutions, with a focus on lithium-ion battery technology and energy management systems. Headquartered in Cape Town, Balancell serves a diverse range of industries, including telecommunications, renewable energy, and electric vehicles.

View original content:https://www.prnewswire.com/apac/news-releases/ecocharge-and-balancell-partner-to-drive-energy-efficiency-in-africa-with-advanced-and-stable-charging-technologies-302254810.html

SOURCE IDEAL Industries

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Global Digital Health Leaders Converge in Seoul for HIMSS24 APAC Conference

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SEOUL, Korea, Sept. 24, 2024 /PRNewswire/ — The 2024 HIMSS Asia Pacific Health Conference & Exhibition, one of the most influential digital health conferences in the APAC region, will be hosted for the first time in Seoul, Korea. The conference will take place from 1 – 4 October at the Coex Convention & Exhibition Center.

The HIMSS24 APAC Conference will bring together healthcare experts and innovators from around the world to collaborate and exchange ideas and insights that will help shape the future of healthcare. 

The conference presents a unique opportunity for attendees to hear from world-renowned experts, network with leading healthcare executives and professionals, and learn about cutting-edge developments and technologies addressing critical issues such as artificial intelligence, cybersecurity, interoperability, and data analytics.

Produced in partnership with Messe Esang, Korea’s largest exhibition company, the HIMSS24 APAC Conference will feature visionary keynotes, interactive demonstrations, and a digital health technology exhibition that will illuminate cutting-edge health tech topics, enhance knowledge, and foster innovation.

Through a partnership with the Korean Hospital Association, attendees of the HIMSS APAC conference will have complimentary access to the K-Hospital + Healthtech Fair, the largest healthcare exhibition in South Korea.

Sessions catered to HIMSS24 APAC’s four learning tracks on artificial intelligence, smart hospitals, cybersecurity, and innovations will include fireside chats, real-world case studies, demonstrations, and more. Exclusive to HIMSS24 APAC, attendees can also experience advanced medical systems and management practices shaping the future of global healthcare with guided tours of leading hospitals in Korea

The HIMSS APAC Conference follows the memorandum of understanding signed by HIMSS, the Korea Hospital Association (KHA), and the Korea Health Information Services (KHIS) on May 17, 2024.

HIMSS (Healthcare Information and Management Systems Society) is a global advisor, thought leader, and member-based society committed to reforming the global health ecosystem through the power of information and technology. As a mission-driven nonprofit, HIMSS offers a unique depth and breadth of expertise in health innovation, public policy, workforce development, research, and digital health transformation to advise leaders, stakeholders, and influencers across the global health ecosystem on best practices.

Click here to register or learn more about HIMSS24 APAC.

Journalists interested in attending the conference can contact HIMSS to receive complimentary press credentials.

Contact:

Albe Zakes
HIMSS Communications Director
Email: albe.zakes@himss.org
Phone: +1.267.221.4800

Sukhjit Singh
Senior Director, HIMSS APAC
Email: Sukhjit.Singh@himss.org
Phone: 65.6664.1187

 

View original content:https://www.prnewswire.com/apac/news-releases/global-digital-health-leaders-converge-in-seoul-for-himss24-apac-conference-302256242.html

SOURCE HIMSS-HEALTHCARE INFORMATION AND MANAGEMENT SYSTEMS SOCIETY

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EDC expands Indo-Pacific presence with a new representation in Japan

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Tokyo hub in key “gateway to Asia” nation will better support Canadian exporters

OTTAWA, ON and TOKYO, Sept. 24, 2024 /PRNewswire/ — Today, Export Development Canada (EDC) announced the opening of its new representation in Tokyo, Japan. This marks EDC’s ninth Indo-Pacific representation, reaffirming the organization’s commitment to helping Canadian companies diversify into higher-growth markets.

As the world’s fourth-largest economy and fifth-largest export destination for Canada in 2023 (accounting for 1.9% of national exports), Japan presents a wealth of opportunities for Canadian exporters of all sizes. Boasting a trusted free market and a strong business and a regulatory environment supported by democratic institutions, the country serves as a strategic launchpad offering exporters easier entry into the region and subsequently into other Indo-Pacific markets. EDC’s Tokyo representation will serve as a vital hub, offering on-the-ground support, market insights and tailored financial services to Canadian companies.

Japan is a key trading partner for Canada, and our countries enjoy deep economic and trade relations spanning 95 years,” said Mairead Lavery, President and CEO, EDC. “With Japan’s reliance on imports, the opportunities for Canadian exporters— particularly in sectors like cleantech, agriculture, and bioscience—are too big to ignore. This representation will offer on-the-ground support necessary for Canadian businesses to capitalize on emerging opportunities and succeed in the Japanese market.” 

In 2023, Japanese foreign direct investment (FDI) stock into Canada reached $49.3 billion, solidifying its role as the leading source of FDI from the Indo-Pacific and third largest worldwide, according to Global Affairs Canada. Additionally, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in force since 2018, continues to provide Canadian investors with access to Japanese markets by having eliminated or reduced tariffs on most key Canadian exports to the country.

The Honourable Mary Ng, Minister of Export Promotion, International Trade and Economic Development, welcomed the announcement: “Canada’s longstanding economic and trading partnership with Japan reflects the powerful collaboration between our two countries that benefits Canadian and Japanese people alike. EDC’s new Tokyo representation is a testament to the enduring economic relationship between Canada and Japan and will play a crucial role in supporting Canadian businesses in the Indo-Pacific. I look forward to seeing our trade and investment relationship advance further through these new collaborations.”

George Monize, EDC’s Managing Director and Head of the Indo-Pacific emphasized the strategic importance of Japan for Canadian companies: “Japan has many of the critical elements for Canadian exporters’ expansion in this region. But to really thrive here—strong relationships are key. And that is why we are here, getting to know the market inside and out to forge the connections Canadian companies need to grow and succeed. The Tokyo representation will work closely with our established Singapore hub—harnessing our learnings, experience and networks to ensure we have the right recipe of support in place for Canadian businesses.”

With efforts led by EDC’s Chief Representative, Jean-Bernard Ruggieri, the Tokyo office will collaborate closely with local agencies, government and partners in Japan to navigate market complexities and facilitate business opportunities for Canadian companies. Tokyo complements EDC’s existing representations in Delhi, Mumbai, Shanghai, Beijing, Sydney, Jakarta, Seoul, and Singapore.

About EDC 

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca

Media Contact: Media | Export Development Canada, 1-888-222-4065, media@edc.ca 

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