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What is the reason for the explosive growth of solar panel sales?


In recent years, under the influence of the goal of carbon neutrality, the status of green, clean and sustainable renewable energy has been continuously improved, and the concept of low-carbon and environmentally friendly life has gradually penetrated into consumer purchasing behavior. Especially in the context of the outbreak of the European energy crisis, Western countries have been promoted to accelerate clean energy transformation and reduce their dependence on fossil fuel imports.


Under the action of the double effect - double carbon green wind and energy crisis, the demand of overseas consumers for green new energy products has risen geometrically, promoting a new energy market with rapid development. In the face of the shining new energy industry, cross-border businesses have ushered in unprecedented opportunities.

Sales of solar panels have exploded as demand for renewable energy has grown. As a renewable energy source, solar panels can convert sunlight into electricity, bringing infinite convenience to users. So, what is driving the explosive growth in solar panel sales?

Continuous Improvement of Technical Level

First, the growth in sales of solar panels is mainly attributable to the continuous advancement of their technology. With the development of solar technology, the efficiency of solar panels is getting higher and higher, which can generate more and more stable electricity. Compared with before, solar panels can not only work under low light conditions, but also work more efficiently and more stably.


At present, in the energy structure of the world, renewable energy has become an indispensable part. According to the latest report, renewable energy sources such as wind, solar and hydropower are being developed on a large scale. Global demand for renewable energy will continue to grow in the coming years.

Gradual Reduction inProduction Costs

Second, the cost of solar panels is gradually decreasing, which is another important reason for its sales growth. With the continuous improvement of solar technology, the production process of solar panels is continuously optimized, and the process is becoming more and more mature, which can realize large-scale production. This makes production costs lower, while competition is becoming more intense, and prices naturally follow. As a result, many customers are now able to afford the price of solar panels, which further expands the solar panel market size.

Strong Support for Energy Policy


In addition, support for renewable energy policies is also one of the important factors driving the growth of solar panel sales. Many countries, especially European countries, have begun to implement clean energy subsidy policies, providing certain financial support for solar energy equipment such as solar panels, and encouraging people to adopt renewable energy. The promulgation of these policies has provided a strong guarantee for the production and sales of solar panels, thus further promoting the growth of its sales.


Consumer Demand Drives Development


According to research data released by DHL, the global renewable energy market will reach US$881.7 billion in 2020, and this figure is expected to climb to US$1,977.6 billion by 2030. According to forecasts, in the next ten years, the compound annual growth rate of the global green energy market is about 8.4%.


Under the double-carbon context, the lifestyles and shopping concepts of global consumers are subtly changing, and they are gradually leaning towards energy conservation and environmental protection.


On the road of sustainable development, green consumer goods and related services are becoming the mainstream of current consumption.


A recent foreign study shows that 60% of online shoppers are willing to pay higher prices for environmentally friendly products or services. Additionally, more than half said they have more trust in companies that commit to environmental sustainability.


It is worth noting that the outbreak of the energy crisis has further promoted the development of the new energy industry. In 2022, under the chain effect of the conflict between Russia and Ukraine, energy prices in European countries will skyrocket, and natural gas prices will once soar to 10 times the level before the epidemic.


Under the pressure of energy supply shortage, Europeans began to frantically seek ways to control the cost of living, which also stimulated the explosive growth of search volume and sales index of new energy products on major e-commerce platforms.


According to official data from e-commerce platforms such as the Amazon platform, the current best-selling new energy products are the following categories: solar charging panels, portable energy storage power supplies, solar lights, solar charging treasures, etc.


Own Unique Advantages


Finally, solar panels have many advantages such as convenient installation, stable use, environmental protection and cleanliness, which are also important factors for their sales growth. Compared with other renewable energy equipment, solar panels are easy to install and can be combined and matched according to actual needs, which is very convenient. At the same time, solar panels are stable in use and can provide electric energy for a long time, so they are favored by people. The most important thing is that solar panels will not cause any pollution to the environment, which is completely in line with the concept of energy saving and environmental protection of modern people, so it is very popular.


Driven by various reasons, the sales volume of solar panels has exploded. Some of the reasons include the continuous improvement of technology level, the gradual reduction of cost, the demand to drive the market, policy support, and its own unique advantages. It is not difficult to imagine that with the continuous development of solar technology and the popularization of the concept of global green environmental protection, the sales of solar panels will continue to grow, bringing more convenience and comfort to people's life.