Photovoltaics: The billion-dollar business with daylight

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.

multi-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 regulations are fueling the boom

The advantages of photovoltaics have also been recognized by state governments in Germany. In states like Baden-Württemberg and Bremen, it will soon be mandatory to integrate solar energy systems into certain types of buildings. Bavarian Minister-President Markus Söder is taking a similar approach. His government has also mandated that photovoltaic systems be installed on every new commercial building in Bavaria starting next year. Further measures in Germany can be found here .

However, private builders will also have to deal with the regulation in the future, as the obligation will apply to them as well from 2022. The legal requirements are expected to ensure that the industry's revenues continue to flow strongly.

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The share of solar energy in total electricity generation from renewable energy sources is increasing annually. Unlike wind energy, for example, photovoltaic systems do not require extensive construction work, as they can simply be placed on the roofs of existing or new buildings.