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Solar is the most abundantly available permanent energy source on earth. The energy content of solar radiation can be optimally utilized by using solar technologies such as Solar Photovoltaic (PV). The global solar PV market has observed tremendous growth over the years with the total installed capacity augmenting from 853 MW in the year 2001 to 135.8 GW by 2013 with a CAGR of 53%.

China saw spectacular growth, accounting for nearly one-third of the global supply added in 2013, followed by Japan and the United States. Solar PV is starting to play a substantial role in electricity generation in some countries. Particularly in Europe, while lower prices are opening new markets from Africa and the Middle East to Asia and Latin America.