Solar energy is more than just photovoltaics. The solar energy market includes both PV (direct electricity) and concentrating solar thermal power (CSP) (using mirrors to generate heat, then electricity). However, PV dominates, with CSP being a niche. The solar energy market for "grid-connected" PV is the largest. The solar energy market for "distributed" (rooftop) PV is also significant. The solar energy market for "utility-scale" PV is the fastest-growing. The solar energy market for "off-grid" PV serves remote applications.

The broader photovoltaic market is the core. The solar energy market for "CSP" uses mirrors to concentrate sunlight onto a receiver, heating a fluid (oil or molten salt) to produce steam for a turbine. The solar energy market for "CSP" includes thermal storage (using molten salt) allowing power generation after sunset. The solar energy market for "CSP" is limited to regions with high direct normal irradiance (DNI). The solar energy market for "CSP" has not grown as fast as PV due to higher cost.

The solar energy market for "water heating" (solar thermal) uses unglazed or evacuated tube collectors to heat water for domestic or commercial use. The solar energy market for "pool heating" is the largest application of solar thermal. The solar energy market for "space heating" (using solar thermal with radiant floors) is a niche. The solar energy market for "industrial process heat" (e.g., for food processing) is a growing segment.

The solar energy market for "hybrid" systems (PV + thermal) produce both electricity and hot water. The solar energy market for "building-integrated" PV (BIPV) replaces conventional building materials (roof tiles, facades). The solar energy market for "floating" PV (on reservoirs) reduces evaporation and doesn't use land.

The solar energy market for "policy" support (feed-in tariffs, net metering, tax credits) has been critical to growth. The solar energy market for "grid" parity (where solar is cheaper than retail electricity) has been achieved in many regions.

Looking ahead, the solar energy market will see the integration of "battery" storage. The solar energy market for "solar + storage" will become the standard for residential and commercial systems. The solar energy market for "green" hydrogen production (using solar electricity) will be a major new application.

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