Growing Demand for Renewable Energy Boosts Solar Photovoltaic Cell Market

Published By : 13 May 2016 | Published By : QYRESEARCH

Growing concerns regarding energy conservation has led to the demand for renewable sources of energy. Solar energy is one of the key components in renewable energy mix. Solar cells, also known as photovoltaic (PV) cells are capable of converting sunlight directly into electricity. Photovoltaic (PV) cell derive its name from the process of conversion of light (photons) to electricity (voltage). In PV cells, semiconductors are used as electrons in semiconductors can be freed by solar energy. These freed electrons can be induced to travel through an electrical circuit. With the rapid growth of China’s economy, the demand for energy across the utilities sector in China has surged. In the utilities sector, large arrays of solar panels are used to convert energy from sunlight directly into electricity.  

Taiwan’s Floating Solar Power System to Generate 499 KW of Electricity per Day

According to the American Institute in Taiwan, the floating solar power system developed in Taiwan is a pioneer model for renewable energy technology producers across the globe. The organizations’ chief Joshua M. Cartin has pointed out that the system’s efficiency in water conservation and electricity generation reflects the robust growth of the photovoltaic industry in the country. On his one day visit, he further stated that he would be interested in bringing this concept to the United States where a large number of dams are present and the photovoltaic industry has a huge scope for growth in the near future. The floating solar power system is located in the Pintung County in Taiwan. The 400 solar modules in the system can generate a whopping 102 KW of electricity per day. Once the system becomes fully operational, the production capacity will increase to 499 KW per day.

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