Europe Solar EPC Market Size - By Technology (PV, CSP), By Classification (Rooftop, Ground Mounted), By End Use (Residential, Commercial & Industrial, Utility), Country Outlook & Forecast, 2024 – 2032

Europe Solar EPC Market Size

Europe Solar EPC Market was valued at USD 79.1 billion in 2023 and is anticipated to grow at a CAGR of 5.3% from 2024 to 2032. It is a common form of contracting arrangement within the solar energy industry. This type of contract encompasses the comprehensive range of services and responsibilities necessary to design, procure all the necessary materials and components, and construct a complete solar power plant or project.
 

Shifting focus to renewable energy procurement targets as part of their sustainability strategies along with enhancement of the service offerings by the EPC providers integrating solar-plus-storage solutions to meet the evolving needs of customers and grid operators will stimulate the industry landscape. Additionally, hybrid renewable energy systems, combining solar PV with other renewable energy sources will fuel the industry growth. Furthermore, community solar projects, where multiple stakeholders jointly invest in and benefit from a shared solar installation, are becoming increasingly popular in Europe, thereby driving the business outlook.
 

Europe Solar EPC Market Trends

Ongoing policy frameworks, technological product advancements, and environmental considerations will improve the market dynamics. The EU has set ambitious renewable energy targets, aiming for at least 32% of final energy consumption to come from renewable sources by 2030. This directive provides a regulatory framework that supports the deployment of solar energy projects, driving the demand for solar EPC services. Moreover, the European countries are using competitive auctions to procure solar energy capacity. Ongoing collaborations with EPC companies to ensure project competitiveness and successful project execution will positively strengthen the product demand.
 

Europe Solar EPC Market Analysis

Based on technology, the PV segment is anticipated to reach USD 123.5 billion by 2032. Significant decrease in the cost of photovoltaic (PV) panels, making solar installations more accessible and affordable for a broader range of customers, which has spurred the adoption of PV systems. development of various financing options such as solar leases, power purchase agreements (PPAs), and green loans will enable more homeowners and businesses to adopt solar energy thereby augmenting the industry statistics. Furthermore, development of high-efficiency solar panels, capable of generating more electricity per square foot will enhance the demand across the solar EPC industry.
 

Based on classification, the rooftop segment is set to grow at a CAGR of over 5% through 2032, on account of advancements in technology, policy incentives, and growing awareness of the need for sustainable energy sources. Increasing number of incentives for rooftop solar installations, including tax credits, rebates, feed-in tariffs, and net metering policies will strengthen the business landscape. Efforts to streamline the permitting process for solar installations reduce the bureaucratic hurdles and shorten project timelines, enhancing the attractiveness of rooftop solar investments. Additionally, rising energy prices and concerns over energy security, both individuals and businesses are increasingly looking to rooftop solar to reduce dependence on the grid and mitigate energy cost volatility, thereby escalating the product demand.
 

Germany solar EPC market size surpass USD 30.5 billion by 2032 owing to favorable government policies, technological advancements, economic incentives, and societal support for renewable energy. growing emphasis on sustainability within the EPC process itself, including the use of environmentally friendly materials coupled with integration of smart technologies and digitalization in solar power projects will augment the industry landscape. Further, increasing emphasis on maximizing the use of residential and commercial rooftops for solar installations will create growth prospects for the market growth. Ongoing research activities are expected to improve the growth projections. In addition, EPC providers are increasingly offering integrated solar-plus-storage solutions which will drive the business scenario.
 

Europe Solar EPC Market Share

The major players of the industry are involved in the detailed engineering design of the project, procurement of the necessary materials and equipment, and construction/installation of the entire solar power plant. They are supportive of delivering solar power projects of varying scales across the globe. They contribute significantly to the growth of renewable energy capacity worldwide. The landscape of Solar EPC providers is constantly evolving with technological advancements, changes in regulatory policies, along with shifts in market demand.
 

Europe Solar EPC Market Companies

Key players operating in the Europe solar EPC industry include:

• AE Solar
• BELECTRIC
• Comal SpA
• CJR Renewables
• CHINT SOLAR (ZHEJIANG) CO., LTD.
• Equans
• Elmya EPC
• Fraunhofer CSP
• GOLDBECK SOLAR GmbH
• Iqony Solar Energy Solutions
• INTEC Energy Solutions
• ISG Renewables
• JUWI
• Scatec ASA
• Strom-Forschung.de
• Sterling and Wilson Renewable Energy Limited
• Sunel Group
   

Europe Solar EPC Industry News

• In December 2023, Elmya EPC, a subsidiary of the Spanish multinational Elmya, specializing in renewable energy projects, secured a contract to design and build a 27.5MWp solar energy plant in the United Kingdom. The company, focusing on electrical installations and renewable energy, will oversee the construction of the Ducklington Farm photovoltaic plant in West Oxfordshire County for Innova Renewables.
   
• In January 2023, New CSP-ERANET projects, with German participation, have been initiated to advance global research aimed at optimizing solar thermal power plant technologies. Collaborative efforts between the German Aerospace Centre and German companies are underway to enhance plant efficiency and robustness while reducing operational costs.
   

This Europe solar EPC market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “MW & USD Billion” from 2019 to 2032, for the following segments:

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Market, By Technology

• PV
• CSP

Market, By Classification

• Rooftop
  • Up to 1 kW
  • 1 to 10 kW
  • 10 to 50 kW
  • 50 to 1 MW
• Ground Mounted
  • 1 to 3 MW
  • 3 to 10 MW
  • 10 to 50 MW
  • > 50 MW

Market, By End Use

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• Europe
  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • Germany
  • Italy
  • Switzerland
  • Spain
  • Sweden
  • UK
  • Netherlands
  • Poland
  • Belgium
  • Ireland
  • Baltics
  • Portugal