Photovoltaics: The billion-dollar business with daylight

Published on: August 22, 2020 / Update from: August 22, 2020 - Author: Konrad Wolfenstein

Photovoltaics: The billion-dollar business with daylight – @shutterstock | 24Novembers

Photovoltaics: The billion-dollar business with daylight

The share of photovoltaics in electricity generation from renewable energy sources is continuously increasing. An important reason is the comparatively low investment costs for the conception and implementation of new systems. It is often possible to attach the modules to existing roofs or buildings, which reduces the space required by the systems to a minimum.

Billion dollar manufacturers

In addition to producers and the environment, hardware producers also benefit from the booming daylight business. There are now over half a dozen companies in the world that each generate sales of over a billion US dollars with solar technology. Above all, the Chinese company Jinko Solar, which recorded revenue of USD 4.3 billion in 2019.

German companies are also involved in the big provider game. Last year, SMA Solar Technology AG from Niestetal in northern Hesse broke the billion dollar sales mark for the first time and thus established itself among the world's leading producers.

Legal requirements are fueling the boom

The state governments in this country have also recognized the advantages of photovoltaics. In federal states such as Baden-Württemberg and Bremen, it will in future be mandatory to integrate systems for generating solar energy into certain types of buildings. Bavaria's Prime Minister Markus Söder is heading in the same direction. His government has also decreed that photovoltaics should be installed on every new commercial building in Bavaria from next year. Further measures in Germany, see here .

But private developers will also have to deal with the regulation in the future, because the obligation will also apply to them from 2022. The legal requirements are likely to ensure that the industry's sales continue to bubble up in the future.

You can find more infographics at Statista

The share of solar energy in total electricity generation from renewable energy sources is increasing every year. In contrast to wind energy, for example, photovoltaic systems do not require a lot of construction effort as they can easily be placed on the roofs of existing or new buildings.

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