
The PV market is observed to be one of the fastest growing sectors buoyed by different government incentives and intense R&D activities. PV technology is emerging as the major technology for generation of power in the world; which is evident from the continuous growth witnessed in the last decade. In order to spur adoption, there was also introduction of several subsidy programs in Germany and Japan such as New National Energy Strategy for 2030 by the Ministry of Economy, Trade and Industry (METI), Japan, Cool Earth 50 to reduce global carbon dioxide emissions, Renewable Energy Sources Act (EEG) of 2000 introduced in Germany.