Europe Agrivoltaic Market Size

Europe Agrivoltaic Market Size

Europe agrivoltaic market size was valued at more than USD 1.5 billion in 2023 and is anticipated to grow at CAGR 6.6% from 2024 to 2032. An agrivoltaic system is a dual-use setup where land is used simultaneously for both agriculture and solar energy production. In this system, solar panels are strategically installed above crops or on agricultural land to capture sunlight and generate electricity, while still allowing for the cultivation of crops, grazing of animals, or other agricultural activities beneath or around the panels.

To get key market trends

  Download Free Sample

Supportive policies and incentives to encourage renewable energy generation, including agrivoltaics including the EU's Green Deal and national initiatives will promote sustainable farming and energy production. Many European countries have established specific regulations that facilitate the development of agrivoltaic systems. These frameworks may include zoning laws that permit solar installations on agricultural land, reducing bureaucratic barriers for farmers looking to diversify their operations, contributing to the business landscape.
 

Increased investment in research and pilot projects will support demonstrate the benefits and viability of agrivoltaic systems. Collaborative efforts between agricultural and energy sectors are advancing technology and practices. Innovations including improved solar panel designs that maximize energy capture while minimizing land use, as well as advancements in tracking systems that optimize panel positioning based on sunlight exposure will drive the business scenario. Ongoing studies to identify the best crop types that can thrive under solar panels along with developing economic models that analyze the financial viability of agrivoltaic systems is set to strengthen the business landscape.