Sunday Jan 29, 2023

Global Solar Farm Market Projected To Reach $261.0 Billion By 2027 – PRNewswire

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PALM BEACH, Fla., Nov. 23, 2021 /PRNewswire/ — FinancialNewsMedia.com News Commentary – Over the last few years, the solar water farm market has been developing at a considerable pace attributable to low cost of PV panels and strong presence of solar water farm producers. Furthermore, awareness toward solar water farming is increasing among consumers, due to implementation of government regulations to promote production of energy from renewable sources to reduce dependency on fossil fuels and to minimize the emission of pollutants. According to the U.S. Solar Energy Industries Association (SEIA), the government has implemented laws such as net metering and community solar to promote the use of photovoltaic technology to generate electricity. A report from Allied Market Research said that Global Solar Farm market was valued at $61.4 billion in 2019, and is projected to reach $261.0 billion by 2027, registering a CAGR of 19.8% from 2020 to 2027. The report said: “In countries such as the U.S., Spain, and France, consumers can utilize photovoltaic energy for their own electricity need and sell the remaining solar power that they do not use. The Chinese solar photovoltaic industry has witnessed significant growth as compared to any other countries over the years. According to the China Photovoltaic Industry Association, China’s capacity for photovoltaic energy grew by 34% year-on-year in 2018. Total installed PV capacity surpassed 170 gigawatts at the end of 2018 compared to 136 gigawatts in 2017. These regulations are promoting the use of photovoltaic technology. Hence, it is expected that these regulations will have a positive impact on the solar pumps market. In addition, with increased use of photovoltaic technology, the demand for solar farm is expected to rise significantly.”  Active Companies in the markets today include First Tellurium Corp. (CSE: FTEL) (OTCPK: GODYF), Canadian Solar Inc. (NASDAQ: CSIQ), Enphase Energy, Inc. (NASDAQ: ENPH), Sunnova Energy International Inc. (NYSE: NOVA), SolarEdge Technologies, Inc. (NASDAQ: SEDG).

Allied Market Research concluded: “The global solar farm market size across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor to the market. Asia-Pacific market of solar farm is analyzed across China, Japan, South Korea, Australia, and rest of Asia-Pacific. In Asia-Pacific, solar energy is widely used in generation of electricity for standalone systems and rural electrification. The growth of the Asia-Pacific solar farm market is further driven by increase in government initiatives for electrification of rural areas, such as Akshay Urja. These initiatives are expected to augment the demand for PV energy, as governments would distribute solar farm in rural areas. Such initiatives are expected to augment the demand for solar pumps, thereby contributing toward the growth of the market, globally.”

First Tellurium Corp. (CSE: FTEL) (OTCPK: GODYF) BREAKING NEWS – First Tellurium Recruits First Solar’s Previous Exploration Manager and Veteran Geologist John Keller to Advisory Board  – First Tellurium Corp. (the “Company” or “First Tellurium”), is pleased to introduce veteran Certified Professional Geologist John Keller who has joined the company’s advisory board and will manage exploration and development of its Klondike tellurium property in Colorado.

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Source: https://www.prnewswire.com/news-releases/global-solar-farm-market-projected-to-reach-261-0-billion-by-2027–301430666.html

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