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Solar Electric Power Generation Global Market Report 2020

Region:Global

Author(s):

Product Code:7324

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Published on

March 2020

Total pages

200

Table of Content

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About the Report

About the Report

The solar electric power generation market consists of sales of solar electric power and related services. It is used in various forms to support the electricity needs of homes or businesses. The solar electric power generation industry includes companies that operate facilities which produce electricity from solar energy. The electricity from solar energy is produced by the conversion of solar energy in photovoltaic (PV) cells, which generate voltage and current at their terminals when exposed to sunlight. The electricity produced is then supplied to electric power transmission systems, which are used to move large quantities of power from generating facilities to substations, and to distribution systems, which are used for short distances to transport electricity to customers locally.
 
The global solar electric power generation market reached a value of nearly USD 33.6 billion in 2019, having grown at a compound annual growth rate (CAGR) of 9.47% since 2015, and is expected to grow at a CAGR of 11.38% to nearly USD 51.7 billion by 2023.
 
The solar electric power generation market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific was the largest region in the solar electric power generation market in 2019.
 
The solar electric power generation market covered in this report is segmented by technology into photovoltaic systems, concentrated solar power systems. It is also segmented by solar module into monocrystalline, polycrystalline, cadmium telluride, amorphous silicon cells, others and by end-user: residential, commercial and industrial.
 
Rising investments from government organizations contributed to the growth of the solar electric power generation market. The market has enhanced from increased government spending on advanced solar panel research and development. For instance, in 2018, Oxford PV, a startup photovoltaics company working with Oxford University, UK, received an investment of USD 3 million from the UK government to build its new technology that uses a new type of material to produce solar cells for boosting renewable energy production. Rising investments from government organizations in research and development of electricity generation through solar energy drove the market.
 
 
The decline in economic growth is expected to limit the growth of the solar electric power generation market. Decrease in investments due to economic slowdown led to a decrease in the solar power installations. This is adversely affecting the market growth in several parts of the world. For instance, the economic crisis in Europe has prompted previously supportive European governments to decrease solar energy subsidies. Another such instance is in India, in 2019, where slowing economic growth and subsequent lack of investments are impacting the renewable energy sector, including the solar sector. The Indian 'Ministry of New & Renewable Energy' (MNRE) had set a target of 8.5 gigawatts of solar installations for the (2019-2020) financial year of which the sector installed only 3.5 gigawatts of solar installations until October 2019, representing 41% of the planned deployment per year. The economic slowdown decreases the investments thereby impacting the market negatively.
 
Artificial intelligence is being used increasingly to meet the rising demands of the solar power market. Artificial intelligence is the machinery simulating processes of human intelligence, particularly computer systems. Expert systems, natural language processing (NLP), speech recognition and machine vision are common AI applications. The use of machine learning through microgrid controllers and artificial intelligence (AI) are the latest solar energy technology solutions that help to adapt to the growing business needs. These technologies continue to evolve to meet the rising needs of the solar industry and the businesses use it as an energy-efficient source. Additionally, new software developments are helping in shaping the future of companies that are applying artificial intelligence and machine learning in solar energy technology. For instance, in 2019, in India, the National Institution for Transforming India (NITI Aayog), released a National Artificial Intelligence Strategy, which recognized artificial intelligence (AI) as one technology that the country could use to adopt renewable energy in a cost-effective manner and increase the efficiency of existing solar power sources. This can be used in charging large scale batteries and to meet on-demand power.
 
In November 2018, Natural Generation Ltd, a UK-based power generation company specialized in wind turbines and solar farms, acquired Northern Power Systems for an undisclosed amount. This acquisition helped Natural Generation Ltd expand its generation capacity and adds assets in the form of solar and wind farms. Northern Power Systems, Inc. is a USA-based company that specializes in manufacturing power generation and energy storage solutions including turbines, with operations in the UK.
 
Major players in the market are Enel SpA, Exelon Corp., Dominion Energy, Inc, Engie S.A, Canadian Solar Inc., Sharp Corporation, STATE POWER INVESTMENT CORP. LTD, Wuxi Suntech Power Co. Ltd. and Tata Power Solar.

Products

Products

1) By Technology: Photovoltaic Systems; Concentrated Solar Power Systems; 2) By Solar Module: Monocrystalline; Polycrystalline; Cadmium Telluride; Amorphous Silicon Cells; Others; 3) By End-User: Residential; Commercial; Industrial


Companies

Enel SpA

Exelon Corp.

Dominion Energy, Inc

Engie S.A

Canadian Solar Inc.

Sharp Corporation

STATE POWER INVESTMENT CORP. LTD

Wuxi Suntech Power Co. Ltd.

Tata Power Solar

First Solar Inc.

Trina Solar Limited

Yingli Solar

ReneSola

Motech Industries Inc.

Abengoa Solar S.A.

Acciona Energia S.A.

Bright source Energy Inc.

Esolar Inc.

Gintech Energy Corp.

Kaneka Corp.

Sunpower Corporation

Verengo Inc

RGS Energy

JA Solar

GT Advantage Technologies

Hanwha Q Cells

SolarCity Corporation

JinkoSolar Holding Co. Ltd

Suntech Power Holdings Co. Ltd.

BHEL

Table of Contents

Table of Contents

1. Executive Summary

2. Solar Electric Power Generation Market Characteristics

3. Solar Electric Power Generation Market Size And Growth

3.1. Global Solar Electric Power Generation Historic Market, 2015-2019, USD Billion

3.1.1. Drivers Of The Market

3.1.2. Restraints On The Market

3.2. Global Solar Electric Power Generation Forecast Market, 2019-2023F, 2025F, 2030F, USD Billion

3.2.1. Drivers Of The Market

3.2.2. Restraints On the Market

4. Solar Electric Power Generation Market Segmentation

4.1. Global Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Photovoltaic Systems

Concentrated Solar Power Systems

4.2. Global Solar Electric Power Generation Market, Segmentation By Solar Module, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Monocrystalline

Polycrystalline

Cadmium Telluride

Amorphous Silicon Cells

Others

4.3. Global Solar Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Residential

Commercial

Industrial

5. Solar Electric Power Generation Market Regional And Country Analysis

5.1. Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

5.2. Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

6. Asia-Pacific Solar Electric Power Generation Market

6.1. Asia-Pacific Solar Electric Power Generation Market Overview

6.2. Asia-Pacific Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

7. China Solar Electric Power Generation Market

7.1. China Solar Electric Power Generation Market Overview

7.2. China Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion

8. India Solar Electric Power Generation Market

8.1. India Solar Electric Power Generation Market Overview

8.2. India Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

9. Japan Solar Electric Power Generation Market

9.1. Japan Solar Electric Power Generation Market Overview

9.2. Japan Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

10. Australia Solar Electric Power Generation Market

10.1. Australia Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

11. Indonesia Solar Electric Power Generation Market

11.1. Indonesia Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

12. South Korea Solar Electric Power Generation Market

12.1. South Korea Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

13. Western Europe Solar Electric Power Generation Market

13.1. Western Europe Solar Electric Power Generation Market Overview

13.2. Western Europe Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

14. UK Solar Electric Power Generation Market

14.1. UK Solar Electric Power Generation Market Overview

14.2. UK Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

15. Germany Solar Electric Power Generation Market

15.1. Germany Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

16. France Solar Electric Power Generation Market

16.3. France Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

17. Eastern Europe Solar Electric Power Generation Market

17.1. Eastern Europe Solar Electric Power Generation Market Overview

17.2. Eastern Europe Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

18. Russia Solar Electric Power Generation Market

18.1. Russia Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

19. North America Solar Electric Power Generation Market

19.1. North America Solar Electric Power Generation Market Overview

19.2. North America Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

20. USA Solar Electric Power Generation Market

20.1. USA Solar Electric Power Generation Market Overview

20.2. USA Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

21. South America Solar Electric Power Generation Market

21.1. South America Solar Electric Power Generation Market Overview

21.2. South America Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

22. Brazil Solar Electric Power Generation Market

22.1. Brazil Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

23. Middle East Solar Electric Power Generation Market

23.1. Middle East Solar Electric Power Generation Market Overview

23.2. Middle East Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

24. Africa Solar Electric Power Generation Market

24.1. Africa Solar Electric Power Generation Market Overview

24.2. Africa Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

25. Solar Electric Power Generation Market Competitive Landscape And Company Profiles

25.1. Solar Electric Power Generation Market Competitive Landscape

25.2. Solar Electric Power Generation Market Company Profiles

25.2.1. Enel SpA

25.2.1.1. Overview

25.2.1.2. Products and Services

25.2.1.3. Strategy

25.2.1.4. Financial Performance

25.2.2. Exelon Corp.

25.2.2.1. Overview

25.2.2.2. Products and Services

25.2.2.3. Strategy

25.2.2.4. Financial Performance

25.2.3. Dominion Energy, Inc

25.2.3.1. Overview

25.2.3.2. Products and Services

25.2.3.3. Strategy

25.2.3.4. Financial Performance

25.2.4. Engie S.A

25.2.4.1. Overview

25.2.4.2. Products and Services

25.2.4.3. Strategy

25.2.4.4. Financial Performance

25.2.5. Canadian Solar Inc.

25.2.5.1. Overview

25.2.5.2. Products and Services

25.2.5.3. Strategy

25.2.5.4. Financial Performance

26. Key Mergers And Acquisitions In The Solar Electric Power Generation Market

27. Solar Electric Power Generation Market Trends And Strategies

28. Solar Electric Power Generation Market Future Outlook and Potential Analysis

29. Appendix

29.1. Abbreviations

29.2. Currencies

29.3. Research Inquiries

29.4. The Business Research Company

29.5. Copyright And Disclaimer

 


List of Figure

Figure 1: Global Historic Market Growth, 2015-2019, USD Billion

Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 3: Global Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 4: Global Solar Electric Power Generation Market, Segmentation By Solar Module, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 5: Global Solar Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 6: Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 7: Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 8: Asia-Pacific, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 9: China, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 10: India, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 11: Japan, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 12: Australia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 13: Indonesia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 14: South Korea, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 15: Western Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 16: UK, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 17: Germany, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 18: France, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 19: Eastern Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 20: Russia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 21: North America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 22: USA, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 23: South America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 24: Brazil, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 25: Middle East, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 26: Africa, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Figure 27: Enel SpA Financial Performance

Figure 28: Exelon Corp. Financial Performance

Figure 29: Dominion Energy, Inc Financial Performance

Figure 30: Engie S.A Financial Performance

Figure 31: Canadian Solar Inc. Financial Performance


List of Table

Table 1: Global Historic Market Growth, 2015-2019, USD Billion

Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 3: Global Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 4: Global Solar Electric Power Generation Market, Segmentation By Solar Module, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 5: Global Solar Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 6: Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 7: Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 8: Asia-Pacific, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 9: China, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 10: India, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 11: Japan, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 12: Australia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 13: Indonesia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 14: South Korea, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 15: Western Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 16: UK, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 17: Germany, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 18: France, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 19: Eastern Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 20: Russia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 21: North America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 22: USA, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 23: South America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 24: Brazil, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 25: Middle East, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 26: Africa, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion

Table 27: Enel SpA Financial Performance

Table 28: Exelon Corp. Financial Performance

Table 29: Dominion Energy, Inc Financial Performance

Table 30: Engie S.A Financial Performance

Table 31: Canadian Solar Inc. Financial Performance

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