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Agrivoltaic Market Trends

Report ID: GMI7945
Published Date: Jan 2024
Report Format: PDF

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Agrivoltaic Market Trends

The integrated approach aiming to maximize land efficiency and provide additional economic benefits to farmers along with its significant contribution to the growth of renewable energy capacity will enhance the business scenario. For instance, according to, National Investment Promotion & Facilitation Agency, India intends to generate about 50% of its overall electric power needs from non-fossil fuel sources, with 50% of that energy coming from renewable sources by 2030.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of agrivoltaic was worth USD 5.5 billion in 2023 and is expected to exceed USD 10 billion by 2032, owing to the growing awareness and acceptance of agrivoltaics as a sustainable land-use solution worldwide.

The fixed system design segment is expected to register over 5% CAGR from 2024 to 2032, owing to the rising need for stable and predictable solar energy generation and the desire for simplified installation processes.

Europe agrivoltaic industry is expected to register over 6.5% CAGR from 2024 to 2032, due to the increasing demand for solar energy and limited land availability combined with ability to offer shade to crops and potentially mitigate extreme weather conditions in the region.

Agrivoltaic Solution LLC, Cero Generation Limited, Sun’Agr, iSun, Inc., REM TEC, Enel Spa, Trina Solar, Jink Solar, VALOREM, SunPower Corporation, and Next2Sun are some of the major agrivoltaic companies worldwide.