Solar Panels Market Size Predicted to Achieve USD 312.68 Billion By 2032, With 7.1% CAGR | Polaris Market Research [Yahoo! Finance]
IDEMITSU KOSAN CO LTD ADR (IDKOY)
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Source: Yahoo! Finance
New York, USA, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Market Overview: The global solar panels market size was valued at USD 169.95 billion in 2023. The market is anticipated to upsurge from USD 180.77 billion in 2024 to USD 312.68 billion by 2032, generating a CAGR of 7.1% during the forecast period. Market Introduction: What is Solar Panel? A solar panel is a device made of semiconductor materials that capture sunlight and convert it into electric current. By using photovoltaic (PV) cells, the solar panel produces electrons that flow through a circuit and produce direct current (DC) electricity. The solar array transfers this DC electricity to an inverter, which converts it into alternating current (AC). Solar panels are well-suited for many applications, such as remote power systems, telecommunications equipment, water desalination, enhanced oil recovery, chemical production, and mineral processing, among many others. However, it's their potential to be a cost-effective in
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