The Middle East and Africa (MEA) solar tracker market is projected to expand remarkably in the coming few years. By product type, the MEA solar tracker market is divided into single axis and dual axis trackers. Solar trackers are used for orienting a payload towards the sun. Payloads are generally solar panels, mirrors, parabolic troughs, lenses, or Fresnel reflectors. Dual-axis solar trackers are more accurate than single-axis trackers. However, dual-axis trackers are more complex and less reliable than single axis. Nevertheless, the demand for both single-axis and dual-axis solar trackers is projected to grow remarkably in the MEA solar tracker market in the coming few years.
Browse the full MEA solar tracker market Report: http://www.mrrse.com/mea-solar-tracker-market
Here are the key trends that will drive the demand for solar trackers in the Middle East and Africa.
- Fluctuating Fuel Oil Prices: In mid-2014, the price of oil started to decline. It went from a peak of above US$100 per barrel to lower than US$50 per barrel. Policies of the Organization of Petroleum Exporting Countries (OPEC) were one of the major causes of the falling prices of oil, as OPEC refused to cut the production of oil, leading to a decline in oil prices. These fluctuating fuel oil prices in the MEA region have led to rising focus on alternative energy sources such as solar energy. This will significantly drive the solar tracker market in the MEA region.
- Need to Boost Efficiency of Solar Cells: The demand for high-efficiency solar cells is high around the world. Solar trackers allow solar modules to stay in the best position to accumulate maximum energy from the sun. Solar trackers are attached to solar panels and adjust the position of these panels to correspond with the passage of the sun through the day even as the weather and seasons change. The demand for solar trackers in the global and the MEA market is high due this advantage of the trackers.
- Favorable Schemes and Policies: The MEA solar tracker market will significantly benefit from the growing number of favorable government incentive schemes and feed-in tariffs (FIT). Recently, Egypt announced a shortlist of 110 qualified applicants for solar PV and wind projects for their first regulatory period of new FIT scheme. Besides Egypt, many other countries in MEA are focusing on introducing FIT schemes as an incentive scheme for installation of PV panels in commercial enterprises and homes.
Although the aforesaid factors will drive the MEA solar tracker market, using solar trackers is a capital-intensive technology. Furthermore, the harsh weather in the Middle East and Africa will also suppress the growth of the MEA solar tracker market.
On the other hand, players in the MEA solar tracker market will benefit from the increasing number of clean energy programs in this region. Some of the prominent solar energy projects in the MEA region are:
- In 2014, Jordan initiated 12 solar projects to meet around 95% of their energy demand.
- Morocco has begun work on its most ambitious clean energy project and is planning to have 42% of its installed energy capacity dedicated to renewable sources by the end of 2020.
- Egypt has set a target of 2.3 GW for solar energy production by the end of 2017.
Browse the full Press Release of MEA solar tracker market: http://www.mrrse.com/solar-tracker-market
The key players in the MEA solar tracker market will increasingly invest in solar energy technologies such as solar trackers. Some of the key players operating in the MEA market are BrightSource Energy, Amonix, Yingli, First Solar, SunEdison, and SunPower Corporation.