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Ground Mounted Solar PV Market Trends

Report ID: GMI7960
Published Date: Jan 2024
Report Format: PDF

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Ground Mounted Solar PV Market Trends

Improved grid stability, reduced intermittency, and enhanced grid management along with adoption of innovative designs to optimize the land use for solar installations will drive the market trends. Various schemes to support domestic manufacturing in line with increasing integration of energy storage solutions with these systems will drive the market trends.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market valuation of ground mounted solar PV was worth more than USD 102 billion in 2023 and is anticipated to surpass USD 156 million by 2032, owing to the continuous decrease in the cost of solar panels and related components, coupled with growing focus on utility-scale solar projects.

The utility segment will cross more than USD 83 billion by 2032, on the account of increasing emphasis on environmental sustainability in line with investment in clean energy with the aim in reduction of carbon footprints.

North America ground mounted solar PV market will record more than 5.5% CAGR from 2024 to 2032, owing to continuous technological advancements in solar PV technology, along with regional commitments to energy transition and decarbonization.

Jinko Solar, First Solar, REC Solar Holdings AS, CsunSolarTech, Solaria Corporation, LG Electronics, Yingli Solar, Renesola, SunPower Corporation, Risen Energy Co., Ltd., Vikram Solar Ltd., Su-vastika Solar, Versolsolar Hangzhou Co., Ltd., Clenergy, SOLTEC, Arctech, and UNIRAC.