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Market Overview
DG ground-mounted solar PV systems are photovoltaic installations directly mounted on the ground, as opposed to rooftop systems. These systems are widely used in commercial, industrial, and utility-scale projects due to their high energy generation capacity and adaptability to diverse terrains.
Key drivers of the market include:
- Rising demand for renewable energy sources to combat climate change.
- Declining costs of solar PV modules and associated technologies.
- Increased adoption of microgrids and distributed energy systems in rural and off-grid areas.
Market Size and Growth Outlook
The DG ground-mounted solar PV market Size is projected to grow at a CAGR of 9.3% from 2024 to 2030, reaching a market value of approximately $45.6 billion by 2030, up from $22.7 billion in 2023.
Key Players in the Market
Prominent companies driving the DG ground-mounted solar PV market Size include:
- First Solar, Inc.
- Canadian Solar Inc.
- Trina Solar Limited
- JinkoSolar Holding Co., Ltd.
- LONGi Green Energy Technology Co., Ltd.
- SunPower Corporation
- Sungrow Power Supply Co., Ltd.
- Tata Power Solar Systems Limited
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Recent developments include:
- LONGi Green Energy introducing high-efficiency bifacial solar panels optimized for ground-mounted systems.
- Sungrow launching advanced inverters tailored for distributed generation applications.
Market Trends
- Growth of Distributed Energy Systems: Increasing focus on decentralized power generation, especially in remote and underserved regions.
- Technological Advancements: Adoption of bifacial modules, single-axis trackers, and AI-enabled monitoring systems to enhance efficiency and output.
- Sustainability and ESG Initiatives: Corporations and governments are investing in large-scale solar projects to meet sustainability goals and reduce carbon footprints.
- Integration with Storage Systems: Growing adoption of energy storage solutions, such as lithium-ion batteries, to ensure reliability and grid stability.
Regional Insights
- Asia-Pacific: Dominates the market, driven by aggressive solar energy targets in countries like China, India, and Japan, along with significant government incentives.
- North America: Robust growth fueled by state-level renewable energy policies, corporate power purchase agreements (PPAs), and federal tax credits.
- Europe: Leading in green energy adoption, with strong support from the EU’s renewable energy directives and net-zero commitments.
- Latin America: Emerging as a key player, with notable projects in Brazil, Chile, and Mexico aimed at tapping into abundant solar resources.
- Middle East & Africa: Rapid expansion due to solar-friendly policies, ambitious targets, and investments in off-grid solar for rural electrification.
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Challenges in the Market
- Land Acquisition and Permitting: Securing land for large-scale ground-mounted systems can be complex, with regulatory hurdles in certain regions.
- Interconnection Delays: Challenges in integrating solar projects with existing grid infrastructure.
- Cost Competitiveness: Despite declining module prices, other costs like installation, maintenance, and financing can impact project feasibility.
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