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Utility Solar EPC Market Trends

Report ID: GMI9749
Published Date: Jun 2024
Report Format: PDF

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Utility Solar EPC Market Trends

Companies are increasingly adopting solar energy as part of their CSR strategies to reduce their carbon footprint and enhance their sustainability profiles is driving the product demand. New financial models, such as power purchase agreements (PPAs), green bonds, and solar leasing, are making it easier for utility companies to finance solar projects. Ongoing investments in solar energy to meet their growing electricity demand and reduce carbon emissions will propel the business statistics.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of utility solar EPC reached USD 87.9 billion in 2023 and is set to witness 4% CAGR between 2024 and 2032, due to the rising deployment of utility scale projects and shifting focus on sustainable energy over conventional fuel.

The 1 to 3 MW segment is expected to reach USD 11.5 billion by 2032, on account of reducing transmission losses and enhancing grid reliability.

Asia Pacific market size is projected to cross USD 42 billion by 2032, owing to the influx of ambitious renewable energy targets and supportive policies along with increased rural electrification programs.

ACME Solar, BHEL, Hild Energy Pvt. Ltd., KEC International Ltd., Prozeal Green Energy, RISEN ENERGY Co., LTD., Sterling and Wilson Pvt. Ltd., Swinerton Incorporated, SUNGROW, and Tata Power Solar, among others.