North America Solar Tracker Market Size

North America Solar Tracker Market Size

North America Solar Tracker Market was valued USD 4.25 billion in 2023 and is anticipated to grow at a CAGR of over 4.9% from 2024 to 2032. A solar tracker is a device that automatically adjusts the position of solar panels or solar arrays to maximize their exposure to sunlight throughout the day. It continuously orients the panels to face the sun as it moves across the sky, optimizing the capture of solar energy. These typically use sensors and motors to track the sun's position and adjust the orientation of the solar panels accordingly.

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Improvements in tracking technology, including more reliable and cost-effective designs coupled with decreasing cost of solar panels and tracking systems will augment the industry landscape. Businesses and industrial facilities are increasingly adopting solar trackers to maximize their solar investments. Furthermore, Solar trackers can boost the energy output of solar panels by 15% to 40% compared to fixed-tilt systems by maintaining optimal panel orientation which will accelerate the industry dynamics.
 

Government incentives, such as tax credits, grants, and renewable energy targets, have encouraged the adoption of solar trackers. Policies at both federal and state levels support the deployment of advanced solar technologies will positively impact the industry statistics. Furthermore, advances in technology and economies of scale have led to a reduction in the costs of solar trackers, making them more accessible and financially viable thereby complementing the product penetration.