Ground Mounted Solar EPC Market Analysis

Ground Mounted Solar EPC Market Analysis

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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.