Ground Mounted Solar EPC Market Size - By Capacity (1 to 3 MW, 3 to 10 MW, 10 to 50 MW, > 50 MW), By End Use (Commercial & Industrial, Utility), Regional Outlook & Forecast, 2024 – 2032

Ground Mounted Solar EPC Market Size

Ground Mounted Solar EPC Market was valued USD 105.6 billion in 2023 and is anticipated to grow at a CAGR of over 4.2% between 2024 and 2032. These refer to large-scale solar energy projects that are installed on the ground, as opposed to rooftops or other elevated structures. EPC systems are turnkey solutions where a single contractor or consortium is responsible for the design, procurement, construction, and commissioning of the solar photovoltaic (PV) system.
 

Reducing cost of solar photovoltaic (PV) technology driven by technological advancements, economies of scale, and improvements in manufacturing processes will augment the industry landscape. Ongoing implementation of supportive policies and incentives comprising feed-in tariffs, tax credits, renewable energy targets, and net metering schemes, to promote the adoption of solar energy will strengthen the product demand. Additionally, growing concerns about climate change and air pollution will support the transition towards renewable energy sources, thereby augmenting the product penetration.
 

Advances in solar PV technology, including improvements in efficiency, durability, and reliability, have made ground-mounted solar EPC systems more attractive and viable, which will strengthen the product demand. Additionally, innovations in tracking systems, inverters, and balance-of-system components have further enhanced the performance and cost-effectiveness of these systems, thereby driving the business scenario.
 

Ground Mounted Solar EPC Market Trends

Shifting focus of many corporations and institutions to sourcing a significant portion of their energy needs from renewable sources as part of their sustainability strategies will contribute to the business momentum. The systems offer a reliable and cost effective way for companies to procure renewable energy and reduce their carbon footprint, thereby strengthening the product penetration.
 

Ground Mounted Solar EPC Market Analysis

Based on Capacity, the 10 – 50 MW segment is projected to surpass USD 45.1 billion by 2032 owing to economies of scale, allowing for efficient deployment and lower costs per unit of installed capacity compared to smaller installations. They offer a viable option for corporate renewable energy procurement, providing a stable and cost effective source of clean electricity which will augment the industry landscape. Also, the systems typically require larger land parcels compared to rooftop installations. Across many regions, there is ample available land, including brownfields, degraded land, and agricultural land, suitable for hosting utility-scale solar projects.
 

Based on end use, the utility segment is set to grow at a CAGR of over 4% through 2032. Ability to integrate into the existing electrical grid infrastructure, providing a reliable source of renewable energy to meet growing electricity demand will strengthen the product adoption. These projects often require grid interconnection agreements and infrastructure upgrades to ensure smooth integration and reliable operation. Furthermore, many regions offer supportive policies and incentives for utility scale solar projects, including feed in tariffs, renewable energy certificates, tax credits, and competitive procurement programs, encouraging investment in larger solar installations, thereby driving the market growth.
 

Asia Pacific ground mounted solar EPC market is projected to surpass USD 50.5 billion by 2032. Availability of abundant solar resources across major economies of the region including China, India, Australia among others coupled with rapid growth and urbanization will contribute to the product demand. Growing adoption across Corporations, industries, and institutions, leading to large scale investments in solar energy to reduce energy costs, enhance energy security, will lead to a positive business outlook. Furthermore, advances in solar PV technology, including improvements in module efficiency, tracking systems, inverters, and balance-of-system components, are some additional factors driving the industry scenario.
 

The U.S. has seen significant growth in utility scale solar projects, including ground mounted solar farms and solar parks. These projects contribute to increasing the share of renewable energy in the nation's electricity generation portfolio. Further, net metering policies allow solar energy system owners to receive credits for excess electricity generated and exported to the grid. Many states have implemented Renewable Portfolio Standards (RPS), which mandate utilities to generate a certain percentage of their electricity from renewable sources, including solar energy, thereby driving the industry scenario.
 

Ground Mounted Solar EPC Market Share

Key players are also prioritizing customer satisfaction and engagement by offering personalized solutions, responsive customer support, and value-added services. Cultivating strong relationships with customers, the companies aim at building brand loyalty and fostering long term growth. Eminent players are investing in research and development to innovate and enhance their offerings by improving efficiency, reliability, and performance metrics, as well as integrating advanced features aiming to differentiate their products and maintain a competitive edge in the market.

Ground Mounted Solar EPC Market Companies

Eminent players operating in the ground mounted solar EPC industry are:

• Abengoa
• BHEL
• CJR Renewables
• Goldi Solar
• JUWI
• Jakson Group
• Mahindra Susten
• LARSEN & TOUBRO LIMITED
• Siemens Gamesa Renewable Energy
• SUNEL Group
• Tata Power Solar Systems Ltd.
• The SOLA Group
• VIKRAM SOLAR LTD.
• Waaree Energies Ltd.
   

Ground Mounted Solar EPC Industry News

• In May 2024, L&T Power Transmission & distribution (PT&D) business bagged multiple orders including the development of a 120 MW ground mounted solar power plant. It will further enhance the company’s presence in India.
   
• In June 2022, juwi Shizen Energy completed the construction of a 53.9 MW utility solar power plant in Sano City. The handover of the plant was two months earlier than the scheduled timeline owing to successful EPC management. This will further enhance the company’s presence across the Solar EPC industry.
   

This ground mounted solar EPC market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in (USD Million & MW) from 2021 to 2032, for the following segments:

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Market, By Capacity

• 1 to 3 MW
• 3 to 10 MW
• 10 to 50 MW
• > 50 MW

Market, By Application

• Commercial & Industrial
• Utility

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Austria
  • Norway
  • Denmark
  • Finland
  • France
  • Germany
  • Italy
  • Switzerland
  • Spain
  • Sweden
  • UK
  • Netherlands
  • Poland
  • Belgium
  • Ireland
  • Baltics
  • Portugal
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Thailand
  • Philippines
  • Vietnam
  • Malaysia
  • Singapore
• Middle East
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
  • Kuwait
  • Turkey
• Africa
  • Israel
  • Saudi Arabia
  • UAE
  • Jordan
  • Oman
  • Kuwait
• Latin America
  • Brazil
  • Chile
  • Argentina
  • Peru