As per estimates, the U.S. solar EPC market is projected to exceed $14 billion by 2025, driven by the fact that solar power has proven to be a strong driver of the region’s economic growth. Reportedly, in 2014, the U.S. solar industry employed over 170,000 people, offering a job growth rate that positively influenced the overall economy.
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Rising measures to suffice with stringent regulatory directives with an aim to curtail emissions have streamlined industrial focus toward the incorporation of energy conservation technologies. Henceforth, effective operational variations & advancements along with increasing cost-competitiveness will stimulate the overall solar EPC market growth. In 2017, UN launched its ?Mission 2020?, to present ?new urgency? to the ongoing ?global climate conversation? by implying reduction in carbon emissions by 2020.
In the current industrial scenario, regulators have constantly been focusing on the enhancement of reforms, schemes, and plans to favor ground mounted installations. Green bonds, clean energy drives, renewable energy certificates, and portfolio standards are few regulatory schemes positively influencing the global solar EPC market. Furthermore, large-scale agreements with manufacturers to introduce effective technologies with significant expansion potential will further escalate the industry growth.
Ongoing commercialization across emerging regions pose immense growth potential for industrial sustainable technologies. Mandates and reforms toward zero GHG emission and adoption of effective energy conservation solutions will positively sway the industry dynamics. In addition, favorable consumer prospects further influenced by fiscal benefits related to the installation of solar technology will strengthen the overall solar EPC market share.
In the recent years, residential deployments have witnessed escalation on account of positive regulatory regime coupled with ongoing technological enhancements. Schemes including subsidies, incentives for grid-tied deployments, FiT?s, supported by stringent measures toward the manufacture of efficient technologies will further augment the product deployment. Furthermore, enactment of standards and building codes across specific regions to incorporate an energy efficient environment which will amplify the solar EPC market potential.
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Concentrated solar power deployments across the global solar EPC market is predicted to grow on account of ease of installation, low operating costs, minimal carbon emissions and higher efficiency. Moreover, decline in the price of plant components pertaining to the upliftment or revision of duties and taxes has favored the product deployment. Economic escalation along with shift in industrial trends have upsurged solar installations globally, which will further complement the technological adoption.
Solar EPC market across the APAC region has gained impetus owing to positive government reforms and growing renewable fund allocation. Favorable self-consumption schemes, regulatory support programs, investment subsidies, renewable incorporation targets and similar regulatory initiatives have substantially energized the industry dynamics. Ongoing economic expansion across emerging nations coupled with rising energy demand across developing power markets have further nurtured the business landscape.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Trina Solar
- Canadian Solar
- First Solar
- SunPower Corporation
- ALSA Solar Systems
- Akuo Energy
- Sterling and Wilson
- Enerparc AG
- Hanwha Q Cells
- Yingli Green Energy
- Juwi AG
- Topsun Energy Limited
- Swinerton Energy
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Eminent solar EPC market participants include First Solar, Topsun, Enviromena, Trina, Canadian Solar, SunPower, ALSA, Sterling and Wilson, Akuo Energy, Hanwha Q Cells, Enerparc, TBEA, Conergy, Yingli Green Energy, Juwi, Swinerton, Eiffage, Bechtel and Belectric.