Global Solar Power Market Size, Share, Growth Analysis, By Technology(Photovoltaic Solar System (Mono-Si, Thin Film), By Application(Residential, Non-Residential), By Solar Module(Monocrystalline, Polycrystalline) - Industry Forecast 2024-2031

Solar Power Market Drivers

Increasing solar energy investments to drive the market

• Many businesses are building renewable energy facilities as a result of environmental laws. In order to lower their carbon emissions, several nations are concentrating on eco-friendly power generation techniques. 
• One of the affordable options for sustainable energy is solar power. As a result, several countries are making significant investments in solar energy, leading to the increasing installation of solar power systems, which is promoting the expansion of the global market.

Solar Power Market Restraints

The limitations on land use is projected to limit the market expansion

• Large solar projects need a lot of area, such as utility-scale or large industrial-scale plants. Additionally, any considerations like the availability of solar radiation limit the choice of land. 
• Due to poor accessibility and unstable soil, solar projects cannot be erected on agricultural or forest property. Distance from the power grid and equipment transportation are other factors influencing the location for building the solar power systems. 
• All these aspects together create restraints on the availability of land for solar power systems, which in turn limits the growth of the global solar power market.