Solar EPC Market - By Technology (Photovoltaic, CSP), By Classification (Rooftop, Ground Mounted Solar), By End-Use (Residential, Commercial & Industrial, Utility), 2025 – 2034

Solar EPC Market Size

The solar EPC market was valued USD 407.6 billion in 2024 and is estimated to grow at a CAGR of 8.1% from 2025 to 2034. Solar EPC means Solar Engineering, Procurement, and Construction that captures all integrated elements and services spanning a project’s life cycle starting from design, material procurement, and finishing with the construction of a solar energy system. Most EPC companies specialize in large systems installations. EPC firms handle the entire solar project, from planning to building.
 

Environmental, social, and governance factors are becoming more important for investors and customers, and, as a result, solar EPC firms are focusing on providing new technologies while making sustainable and environmentally friendly designs. Solar EPC companies are also aligning with international environmental initiatives by providing sustainable solutions which aids in the minimizing of the project’s environmental impact. In addition, the use of digital tools and software has become indispensable in the organization, design, and operation of solar projects.

Policies and initiatives to support Greenhouse gas mitigation targets have resulted in an increase in search for sustainable energy. A large proportion of energy firms are investing their revenues in the expansion of solar capacity which is accelerating the growth of the industry. Tightening sustainable development targets in numerous economies worldwide along with integrating storage with solar systems, providing hybrid solutions that can ensure stable and reliable power supply, will drive the market growth.
 

Solar EPC Market Trends

Declining costs of PV components and panels are driving the dominance of the solar technology in the industry. The heightened affordability of contemporary components and performance units is gearing up to meet the ongoing demands for efficient and economically viable solutions. The investment in infrastructure development in various economies is enhancing the focus of key contractors on large-scale clean energy development projects, thereby enhancing the segment's prospect.
 

Solar EPC Market Analysis

Based on classification, the solar EPC industry is bifurcated into Rooftop and Ground Mounted. Rooftop is anticipated to grow more than USD 321 Billion by 2034 owing to increasing demand in residential and commercial establishments. Increasing initiatives and schemes by the government to strengthen the adoption of small-scale rooftop solar, will drive the market growth. Additionally, rollout of stringent green building regulations along with growing government mandates for clean energy use and sustainable solutions in new constructions, steering them towards carbon neutrality and paving the way for industry growth.
 

Based on end use, the solar EPC market is bifurcated into residential, commercial & industrial and utility. Commercial & industrial is anticipated to grow more than CAGR 8% by 2034 driven by cost savings, sustainability goals, and government incentives. Increasing efforts to improve the integration of renewables in the energy mix will foster the business scenario.
 

Regional governments have outlined strategic roadmaps and plans to promote solar power integration for both remote and urban areas, creating lucrative opportunities for the market growth. In addition, closed tie-ups among leading contractors to deliver utility scale solar projects to achieve clean energy targets will stimulate the product demand.
 

The U.S. solar EPC market is anticipated to grow more than USD 59 Billion by 2034 on account of increasing government incentives and net metering policies. Continued rise in large utility-scale solar power projects, particularly in the Western U.S. and the Southeastern U.S. coupled with decreasing cost of solar power, has made utility-scale solar power projects increasingly economically viable augmenting the market growth.
 

Growing need for grid reliability and energy resilience along with integrating storage into large-scale solar projects will drive the business scenario. In addition, tax incentives including the Investment Tax Credit (ITC), has made residential solar more affordable, strengthening the industry landscape.          
 

Solar EPC Market Share

In the solar EPC industry, firms offer services related to the design, procurement, and construction of photovoltaic systems, often for large solar power plants, commercial buildings, and later for residential roofs. These companies differentiate themselves through the use of advanced technologies such as bifacial solar panels, energy storage systems, and solar trackers. Usually, solar EPC companies have strategic cooperation with other actors in the solar value chain such as module producers, banks, and energy storage companies. These partnerships help to enhance project financing, reduce costs, and improve overall project delivery.
 

Solar EPC Market Companies

Eminent players operating in the Solar EPC industry are:

• Abengoa
• BLUELEAF ENERGY
• Black & Veatch Holding Company
• Bechtel Corporation
• BELECTRIC
• Canadian Solar
• CHINT SOLAR (ZHEJIANG) CO., LTD.
• Eternia Solar
• JUWI
• Jakson Group
• Mahindra Susten
• L&T Construction
• SOLA GROUP
• Siemens Gamesa Renewable Energy, S.A.
• Sterling and Wilson Renewable Energy Limited
• SUNEL GROUP
• Tata Power Solar Systems Ltd.
• VIKRAM SOLAR LTD.
• Waaree Energies Ltd.
   

Solar EPC Industry News:

• In July 2023, Ilios Power clinched an EPC and operations and maintenance (O&M) contract for a 6.9 MW floating solar power project in Kerala. The total contract, inclusive of GST, was valued at Rs 554 million, with the EPC component quoted at Rs 486 million.
   
• In February 2021, Indian solar EPC company Sterling and Wilson Solar announced that it had commissioned a 200 MW solar project in Australia. This is one of the largest solar projects in Australia and highlights the global reach of Solar EPC companies.
   

The solar EPC market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million and MW ” from 2021 to 2034, for the following segments:

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Market, By Technology

• PV
• CSP

Market, By Classification

• Rooftop
  • Up to 1 kW
  • 1 to 10 kW
  • 10 to 50 kW
  • 50 kW to 1 MW 
• Ground Mounted
  • 1 to 3 MW
  • 3 to 10 MW
  • 10 to 50 MW
  • > 50 MW

Market, By End Use

• Residential
• Commercial & Industrial
• Utility

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

• North America
  • U.S.
  • Canada
  • Mexico 
• Europe
  • Germany
  • France
  • Spain
  • Netherlands
  • Poland
• Asia Pacific
  • China
  • Australia
  • Japan
  • India
  • South Korea
• Middle East
  • Saudi Arabia
  • UAE
  • Israel
  • Jordan
  • Turkey
• Africa
  • South Africa
  • Egypt
  • Algeria
  • Nigeria
  • Morocco
• Latin America
  • Brazil
  • Chile
  • Argentina
  • Peru