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Commercial & Industrial Solar PV Market Trends

Report ID: GMI9777
Published Date: Jun 2024
Report Format: PDF

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Commercial & Industrial Solar PV Market Trends

Growing commitment of the corporations to 100% renewable energy goals, including the introduction of RE100 initiative driven by the economic benefits of lower energy costs and enhanced energy security? will drive the market growth. Increasing number of incentives including the Investment Tax Credit (ITC) along with rising electricity rates, make solar investments more attractive, thereby? contributing to product penetration. Furthermore, ongoing integration of advanced PV technologies along with solar trackers and energy storage solutions, is set to enhance the efficiency and output of C&I solar projects.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of commercial & industrial solar PV was reached USD 57.1 billion in 2023 and is anticipated to grow at 6.4% CAGR through 2032, owing to the increasing requirement of clean electricity.

The on grid segment in the commercial & industrial solar PV market will exceed USD 95 billion by 2032, due to the innovations in battery storage and smart energy management systems.

Europe commercial & industrial solar PV market will record USD 28.5 billion by 2032, attributed to strong policy support, comprising policies for solar installations on multifamily buildings.

Canadian Solar, CsunSolarTech, EMMVEE SOLAR, JA SOLAR Technology Co., Ltd., GCL-SI, Jinko Solar, Motech Industries Inc., LONGi, Q CELLS, Renesola, REC Solar Holdings AS, and Risen Energy Co., Ltd.