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Ground Mounted Solar PV Module Market Trends

Report ID: GMI9829
Published Date: Jun 2024
Report Format: PDF

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Ground Mounted Solar PV Module Market Trends

Ground-mounted solar systems are increasingly used for rural electrification projects, providing reliable and sustainable energy to off-grid communities. Combining solar PV with battery storage systems to ensure a stable and reliable energy supply coupled with repurposing unusable or contaminated land for solar installations to avoid conflicts with agricultural or residential land use will propel the business statistics. In addition, solar companies enter into strategic partnerships with suppliers and manufacturers to ensure a stable supply chain thereby reducing costs through economies of scale.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of ground mounted solar PV module was crossed USD 109.9 billion in 2023 and is anticipated to grow at 5% CAGR through 2032, owing to the favorable government initiatives and schemes.

The utility segment in the ground mounted solar PV market is set to witness over 4% CAGR during 2024 to 2032, owing to increasing popularity of community solar projects and the growing utility scale solar farms.

Asia Pacific ground mounted solar PV module market is anticipated to surpass USD 82.5 billion by 2032, on account of government policies, economic incentives, technological advancements, and the region's high solar potential.

Arctech, Canadian Solar, CsunSolarTech, First Solar, Jinko Solar, JA SOLAR Technology Co., Ltd, SOLTEC, SunPower Corporation, Trina Solar, and Yingli Solar.