Ground
mount PV utility or solar PV industry is growing due to reduced
prices of PV modules, government schemes such as RPS, and because it
is among the most capable renewable energy generation technologies
that has significant commercial potential. The North America ground
mount PV utility market had total installed capacity of 3,381.4 MW in
2013 and is anticipated to reach 17,589.7 MW by 2022, developing at
an AAGR of 20.1% between the forecast years from 2014 to 2022.
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North
American revenue added up to US$7,311.8 million in 2013 and is
expected to hit US$19,464.1 million by 2022 and rise at an AAGR of
11.5% during the forecast period.Solar energy is harnessed through
the photovoltaic technique and transforms directly into electricity
using semiconductor material that shows photovoltaic effect. Solar PV
is the third among important renewable energy resources after wind
and hydropower in terms of global installed capacity. Ground mount PV
utility is a burgeoning market in developed and developing nations,
due to feed-in-tariffs, financial incentives, and preferential net
metering. Solar PV can have applications in residential, commercial,
utility-scale power plants, and industries. Renewable energy
resources use has developed rapidly and advanced in North America in
the past few years. Costs have decreased and this has inspired growth
in the Ground mount PV utility industry.
Reasons
for Market Growth for Solar PV include Government Funding and Tax
Benefits
In
North America, governments are financing utility-scale solar PV
plants and providing tax incentives and such investments are
increasing. Specific states in U.S. are including Ground mount PV
utility or Solar PV in renewable portfolio standards (RPS). Tax
credits and exemptions and financial incentives are boosting the
industry market for Ground mount PV utility. Another reason for
increase in ground mount PV utility installations in North America is
the reduced costs of PV projects and competitive market scenario.
European markets are focusing on the North American market due to
sluggish market conditions in Europe.
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Advanced
Technology, and Economy Factors Drive Growth
The
market segments for ground mount PV utility are by installation type,
which includes pole mount, pile mount and others. Pile mount segment
has the greatest market share in installations and this trend is
expected to continue during the forecast years. Pole mount
installations are also expected to grow in demand over the next few
years.
U.S.
Leads Market Due to Economic Factors for Renewable Energy
Country
segments for ground mount PV utility include U.S., Canada, and
Mexico. In U.S. the total installation for utility scale solar
projects were calculated as approximately 8 GW by 2014. In 2008
utility-scale projects increased by 5% growing to nearly 55% in 2013.
These projects are considered as economically-viable compared to
other renewable energy sources such as wind power especially in
regions such as California and the southwest desert areas. Canada
shows signs of growing ground mount PV utility industry and reducing
costs are increasing the market demand for these projects.
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Press Release Of Ground Mount PV Utility Market
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Key
participants in the ground mount PV utility market in North America
include First Solar, Andalay, Solar, Inc., LLC, NextEra Energy
Resources, SunPower Corporation, Haticon Solar, SunLink Corporation,
LLC, SolarCity Corporation, SunEdison, Inc., and Unirac Incorporated.
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