Solar Energy Industry
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Introduction
The prime objective of solar energy industry is to generate electricity from sunlight. Solar energy industry use photo voltaic cells to convert solar energy into electricity and to implement this, they use solar panels that absorb the sunlight and generate electricity from it.
Basic functionalities of solar energy industry
Functionalities of solar energy industry include construction of solar panels, generating electricity through solar batteries, supplying power to several industrial applications.
Working forces responsible behind solar energy industry
These days, the demand for solar energy is so high that government is trying to implement some subsidy programmes, specifically in countries like Japan and Germany, which boost the electricity service providers to use solar energy as their prime source of power.
Working principles of photo voltaic system
Electricity generation is done through the use of panels which ultimately form a grid-connected system and eventually supply electricity to the buildings. During day time, the excess solar energy is conserved to the grid in the form of solar batteries.
Related industries and application fields
Some associated industries which are somehow utilizing solar energy are powering repeater stations for microwave, radio telephones, TV and radio, telemetry. Solar energy is often used on transportation signaling purposes. Some examples are lighthouses, offshore navigation buoys, aircraft warning, road traffic warning signals. Solar energy is also used to power environmental and situation monitoring equipments.
Economic perspective of solar energy industry
Solar energy industry can still be regarded as a tiny industry out of the world primary energy market. However, as the unit cost is reducing day by day, the growth rates and market share is also gaining. Over the last couple of years, the movement of solar energy prices has shown a downward trend and the investment in solar energy industry is eventually increasing. There is a remote chance of price volatility in solar energy industry.
