Which country has the largest solar PV market in 2021?

China, the United States, Japan, Germany, India, and Brazil were the largest solar PV markets in 2021. These countries account for 69% of total solar PV capacity worldwide, a highly concentrated market comprising both single households and large companies [28, 29]. 4. The Uses of Solar PV Energies: State of the Art 4.1. Solar PV Energy

What is the future of solar energy in developed countries?

These countries have made substantial investments in solar infrastructure, resulting in widespread installations and well-established markets. The future of solar energy in developed nations is promising, with a focus on further enhancing efficiency, storage capabilities, and grid integration [62, 63].

Why should developing countries invest in solar energy?

Due to the benefit of low costs, many developing nations are more interested in investing in solar energy to meet energy demands; consequently, the adoption of solar technologies fulfills the basic needs of food and shelter, health, and education and uplifts society .

Where is the solar PV industry Upstream Network competence?

In the past, solar PV industry upstream network competence was mainly concentrated on the US, Germany and Canada. Chinese firms have gained significant upstream network positionings in recent years through fine-grained and intensified relationship engagements, targeting to improve their research and development and component supply quality.

Is solar PV a good investment for business and policy makers?

As from our point of view the development of renewable industries such as solar PV should be of vital interest for business and policy makers in light of global warming, cleaner production and also against the background of interesting business opportunities which contribute to economic and societal prosperity.

How does the EU support the solar industry?

Under the REPower initiative, the EU provides investment funds targeting the solar PV industry, amounting up to Euro 26 billion until 2027. Other funding instruments contributing to the deployment of solar technologies in the EU are the Recovery and Resilience Facility, InvestEU, and the Innovation Fund (European Commission, 2022).