Fixed Solar PV Mounting Systems Market Analysis

Fixed Solar PV Mounting Systems Market Analysis

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Based on product, the ground mounted solar PV mounting systems market is anticipated to cross more than USD 22.5 billion by 2032. Ground mounted systems are the preferred choice for utility-scale solar farms owing to the availability of large tracts of land which can generate significant amounts of electricity, contributing to the grid and helping to meet renewable energy targets. Moreover, large-scale installations benefit from economies of scale, reducing the cost per watt of electricity generated, making ground-mounted systems cost-effective for utilities and large energy consumers, which will positively impact the technology adoption.
 

Based on end use, the commercial & industrial sector is set to grow more than 2.5% CAGR through 2032, owing to growing requirement to reduce electricity costs. Solar power can significantly lower energy bills, especially in regions with high electricity rates. Many businesses are leveraging PPAs, which allow them to install solar PV systems with little to no upfront cost. Various leasing and financing options making it easier for C&I establishments to adopt solar without significant initial capital expenditure which will boost the industry statistics.
 

Europe fixed solar PV mounting systems market is likely to exceed USD 6.1 billion by 2032 on account of favorable government policies, technological advancements, and increasing awareness of the use of renewable energy. Several European countries have implemented feed-in tariffs, guaranteeing a fixed premium price for solar energy fed into the grid, encouraging both residential and commercial investments in solar PV, driving the business scenario. In addition, subsidies and grants to reduce the initial investment cost and increasing targets for renewable energy usage, will stimulate the industry trend.
 

The U.S. fixed solar PV mounting systems market will grow owing to supportive government policies, economic incentives, technological advancements, and increasing environmental consciousness. Innovations in mounting system materials and designs have enhanced the durability and reliability of fixed solar PV installations, ensuring long-term performance with minimal maintenance will complement the industry scenario.