Demand for electricity generation from renewable energy sources has been rising, which is boosting demand for solar trackers around the globe.
How big is the global solar tracker market, and what will keep it driving in the coming years?
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Demand for electricity generation from renewable energy sources has been rising, which is boosting demand for solar trackers around the globe.
How big is the global solar tracker market, and what will keep it driving in the coming years?
The global solar tracker market is expected to boost growth in green energy demand globally. The solar trackers market was around US$ 9 billion in 2018 and is expected to almost double by 2026.
The growing demand for green energy has attracted countries towards solar energy. This has increased demand for solar trackers. Technological developments have led to the development of low-maintenance trackers which has contributed greatly to the growth of the markets.
The subsidies offered by governments to achieve their aggressive green energy targets and to reduce carbon emissions also remained a driving force behind the global solar tracker market growth.
The aim of solar trackers are to increase solar system efficiency. Solar trackers allow solar panels to travel in line with sun direction and make the full use of available sunlight. Solar trackers can improve efficiency by 25-35%.
There are several techniques which are used to enhance the efficiency of solar panels. In photovoltaic power plants, single and dual-axis tracking are commonly used techniques to optimise the generation of electricity.
The single-axis panel tracker ensures the movement only in one direction while the two-axis tracker provides the direction of panels on both directions, which is around 10-15% more efficient than the single-axis trackers.