U.S. solar PV mounting systems market will collect a significant revenue over the coming timeframe. The government has also been promoting the product by offering supportive tax rebates, financial assistance, and net metering, which will augment the market share. Speaking about the ongoing technology development, the industry giants are investing their time and money to improve and produce high capacity generation power systems. In fact, the tracking technology covered more than 19% of solar PV mounting systems market share in 2016 and will record substantial growth rate over the years ahead. This technology has the capability to improve the power generation capacity of the product by 20%. The U.S. government is investing heavily to develop clean energy technologies. Besides, the implementation of favorable energy security rules and regulations will influence the product demand.
Government initiatives including Power Purchase Agreement (PPA), soft loans, subsidies, and tax rebates will further augment the solar PV mounting systems market share. In September 2014, government of Chile introduced a net-metering scheme, which will help beneficiaries to receive credit on their utility bills for feeding excess electricity to the grid.
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Depleting fossil fuels have led to the adoption of sustainable sources such as solar energy, which will stimulate solar PV mounting systems market. Increasing awareness regarding the adverse effects of GHG emissions on the environment and human health is slated to encourage the usage of solar based power generation. Implementation of stringent rules and regulations to restrict the emission of GHG will fuel solar PV mounting systems industry size noticeably. In addition to this, the reducing costs of the component will also propel the product demand. According to Global Market Insights, Inc., “Worldwide Solar PV mounting systems market was valued USD 6 billion and will generate a notable revenue with an annual growth rate of more than 6% over the period of 2017 to 2024.”
The world is trending toward the adoption of smart technology. The development of smart cities and green buildings in the commercial as well as residential sectors across the globe will amplify the demand for solar PV mounting systems market. The deployment of zero emission building norms will also favor the adoption of the product across the commercial sector. Large-scale corporations are also setting an example regarding the adoption of solar power generation. To reduce carbon emission, Lloyds Bank made an investment of USD 1000 million in 2016.
Ground mounted in 2016 accounted for over 75% of solar PV mounting systems market share. High efficiency and facility for inclination & orientation are some of the salient features which makes its adoption preferable over other available counterparts. Rising demand for large capacity photovoltaic plants along with ongoing expansion of existing systems will further stimulate the product demand.
Pertaining to the growth of commercial constructions, solar PV mounting systems market from the commercial sector will collect significant revenue over the years ahead. The installation of PV systems across the industrial and commercial sector is slated to cross 20.2 GW by 2023, in terms of volume.
To reduce the dependency on non-renewable energy sources such as fossil fuels and to control emissions up to 80%, many countries across Europe have been striving to adopt solar PV mounting systems. The UK government is planning to generate 30% of the overall energy from renewable energy sources by 2020. On these grounds, UK solar PV mounting systems market will generate a notable revenue with a CAGR of more than 5% over the coming seven years.
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Considering the ease of installation, compact size, and space optimization benefits, popularity of rooftop mounting systems is increasing among the customers. Rooftop solar PV mounting systems market will exhibit an annual growth rate of more than 8% over the period of 2017 to 2024. The attributing factor toward the market growth is emergence of distributed power to minimize the grid dependency.
Favorable government initiatives including tax rebates to promote renewable energy utilization and to reduce harmful emissions will foster Canada solar PV mounting systems market growth. In 2016, Canada Green Building Council (CaGBC) introduced zero carbon building framework to curb emissions to 30% by 2030.
Table of content for this research report:
Chapter 4. Solar PV Mounting Systems Market, By Product
4.1. Global market share by product, 2016 & 2024
4.2.1. Roof-Top market, 2013 – 2024
4.2.2. Roof-Top market revenue by region, 2013 – 2024
4.3. Ground mounted
4.3.1. Ground mounted market, 2013 – 2024
4.3.2. Ground mounted market revenue by region, 2013 – 2024
Chapter 5. Solar PV Mounting Systems Market, By End-Use
5.1. Global market share by end-use, 2016 & 2024
5.2.1. Residential market, 2013 – 2024
5.2.2. Residential market revenue by region, 2013 – 2024
5.3.1. Commercial market, 2013 – 2024
5.3.2. Commercial market revenue by region, 2013 – 2024
5.4.1. Utility market, 2013 – 2024
5.4.2. Utility market revenue by region, 2013 – 2024
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Top companies operating in Solar PV mounting systems market have been focusing on cost effectiveness of the product along with performance enhancement to improve their profit margins. Business participants have also been adopting various growth strategies to expand their global presence over the coming timeframe.
The notable participants in solar PV mounting systems market are UNIRAC, Quick Mount PV, Schletter, Inc., Landpower Solar Technology, Xiamen Grace Solar Technology Co., Ltd., K2 SYSTEMS, Suyash Metatech, RBI Solar, DPW Solar, Versolsolar Co., Ltd., and SNS Corporation.
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