Solar EPC Market Growth Analysis, Outlook by 2019 – Trends, Opportunities and Forecast to 2025
Category: #Technology  By Rahul Varpe  Date: 2021-03-26
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Solar EPC Market Growth Analysis, Outlook by 2019 – Trends, Opportunities and Forecast to 2025

Solar EPC market to be characterized by innovative solutions brought forth by major industry stalwarts: annual installations to surpass 100 GW by 2025

The global solar EPC market is poised to chart out a remarkable growth curve in the coming years owing to the rise in environmental concerns along with the stringent government mandates for reducing carbon emissions. Moreover, momentous upgrades and variations coupled with a rise in cost-competitiveness have shifted the industrial focus towards adoption of efficient energy conservation initiatives which will propel solar EPC market in the years to come. Say for instance, in 2017, the United Nations had launched an initiative known as 'Mission 2020' with a goal of introducing 'new urgency' by implying reduction in greenhouse gas emissions by 2020.

Initiatives from such organizations to cut down on polluting emissions would further drive the demand for efficient energy solutions. Increased demand from industries for the installation of solar panels in an attempt to contribute towards global energy conservation in tandem with positive regulatory mandates which include FiT, investment tax credits, tax rebates, leveraging schemes, and subsidies will lead to solar EPC industry charting out a remarkable growth path in the ensuing years. The global solar EPC market outlook will also be complemented with the revamping of investment flow and trade policies across emerging countries.

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Prominent companies partaking in the solar EPC industry share have evidently been reinforcing their expertise with product innovations and portfolio expansion for enhancing their stance across this industry. A gist of the contribution by some of the notable companies in the solar EPC market is mentioned below:

Trina

China-based integrated solar systems provider, Trina Solar Ltd., has recently come up with an innovative solution, Trinahome, which will perfectly serve the small-to-medium sized enterprises (SMEs) as well as households, seeking to reduce their energy bills along with helping the environment. According to reports, renewable energy accounted for only 2% of energy mix in the nation by late 2018, however, the Malaysian government has set a target of increasing it to 20% by 2025.

Trina Solar believes the nation will show a higher growth rate and ample opportunity in solar installation in the upcoming time. During the same time period, it was also reported that the company is seeking to enter the Malaysian market to expand its business presence. The efforts by industry magnates to bring forth a spate of innovative solutions and expand their geographical reach will consequently augment the global solar EPC industry.

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Enviromena

Abu Dhabi-based Enviromena Power Systems had inked an power purchase agreement (PPA) in 2018 for installing a solar power system in the Al Barakah Dates factory. The factory will be installed with a 1 megawatt peak (MWp) system, and will be the first of its kind to run on solar power. Enviromena will be installing 3,220 solar PV panels on a 10,000 square meter building, which will offset 100% of the factory's electricity needs.

The solar firm revealed that this system would result in saving AED 10 million ($2.72 million), along with 882 tons of carbon dioxide emissions, which is equal to removing about 200 vehicles from the road.

Canadian Solar

A year ago, Canadian Solar had announced the introduction of its next generation solar modules BiKu, HiKu and HiDM. The HiKu poly modules are specially developed for the utility market, where power output could exceed 400 W. This module could reduce solar projects' EPC cost owing to its lower BOS and installation costs. The HiDM (High-Density Module) consists unique IP-granted design features from the company.

The 60-cell mono HiDM module's power output could reach 335 W, which is around 10% higher compared to a standard cell mono PERC module. The launch of such advanced solutions is certain to propel the commercialization potential of the solar EPC market in the years to come.

Analyzing the aforementioned efforts undertaken by notable industry players, it is overt that the solar EPC market will register a remarkable growth rate in the upcoming years. The competitive spectrum of solar EPC industry is quite diverse, and consists of prominent companies such as Swinerton, Eiffage, Juwi, Topsun, Yingli Green Energy, Belectric, Hanwha Q Cells, Bechtel, TBEA, Conergy, Enerparc, Akuo Energy, ALSA, Sterling and Wilson, SunPower and First Solar.

Table Of Content

Chapter 1    Methodology & Scope

1.1    Methodology

1.2    Market definitions & abbreviations

1.2.1    Definitions

1.2.2    Abbreviations

1.3    Market estimates and forecast parameters

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2    Executive Summary

2.1    Solar EPC market 3600 synopsis, 2014 - 2025

2.1.1    Business trends

2.1.2    Technology trends

2.1.3    Classification trends

2.1.4    End use trends

2.1.5    Regional trends

Chapter 3    Solar EPC Industry Insights

3.1    Industry segmentation

3.2    Industry landscape

3.3    Industry ecosystem analysis

3.3.1    Photovoltaic

3.3.1.1    Value addition

3.3.2    CSP

3.3.2.1    Value addition

3.3.2.2    Vendor matrix

3.4    Innovation & sustainability

3.5    Regulatory landscape

3.5.1    Concentrated Solar Power

3.5.1.1    China

3.5.1.2    India

3.5.1.3    UAE

3.5.1.4    Chile

3.5.1.5    South Africa

3.5.1.6    Morocco

3.5.1.7    U.S.

3.5.1.8    Europe

3.5.2    Photovoltaic (PV)

3.5.2.1    China

3.5.2.2    India

3.5.2.3    Australia

3.5.2.4    South Africa

3.5.2.5    Chile

3.5.2.6    U.S.

3.5.2.7    Europe

3.6    Feed in tariff landscape

3.7    Capital cost structure

3.7.1    Price learning curve for PV technologies

3.7.2    Capital cost breakdown analysis for solar PV plant, 2018

3.8    Leading investment scenario across solar industry

3.8.1    India

3.8.2    China

3.8.3    Chile

3.8.4    Saudi Arabia

3.8.5    Egypt

3.8.6    Australia

3.9    Invested capital in RE Market, 2017

3.10    Investments across the global clean energy sector (USD Billion), 2017

3.10.1    Investments across the global clean energy sector (USD Billion)

3.10.2    Investments across the global clean energy sector, by region (USD Billion)

3.10.3    Investments across the global clean energy sector, by technology (USD Billion)

3.10.4    Investments across the global clean energy sector, by investment stage (USD Billion)

3.10.5    VC/PE investments in clean energy sector, (USD Billion)

3.10.5.1    Major VC/PE transactions, 2016

3.10.5.2    Major VC/PE transactions, 2017

3.11    Capex & Opex trend prevailing across key solar market

3.11.1    U.S.

3.11.1.1    Capex

3.11.1.2    Opex

3.11.2    Brazil

3.11.2.1    Capex

3.11.2.2    Opex

3.11.3    Australia

3.11.3.1    Capex

3.11.3.2    Opex

3.11.4    Indonesia

3.11.4.1    Capex

3.11.4.2    Opex

3.11.5    Mexico

3.11.5.1    Capex

3.11.5.2    Opex

3.11.6    Vietnam

3.11.6.1    Capex

3.11.6.2    Opex

3.12    LCOE trend

3.12.1    U.S.

3.12.2    Brazil

3.12.3    Australia

3.12.4    Japan

3.12.5    Indonesia

3.12.6    Mexico

3.12.7    Vietnam

3.13    Equity IRRs/financial returns of plants across major countries

3.13.1    U.S.

3.13.1.1    Assumptions

3.13.2    Brazil

3.13.2.1    Assumptions

3.13.3    Australia

3.13.3.1    Assumption

3.13.3.2    IRR prevailing across key region (Australia)

3.13.4    Japan

3.13.4.1    Assumption

3.14    Global average energy cost

3.15    Average Solar CUF/PLF trend across leading countries

3.15.1    U.S.

3.15.2    Brazil

3.15.3    Australia

3.15.4    Japan

3.16    Average capital cost for EPC/MW

3.17    Cable and structure landscape

3.18    Solar subsidy landscape

3.19    Solar grid parity status

3.20    Key Investors across solar industry

3.21    Customer requirements

3.22    Customer group requirements

3.22.1    Residential & Commercial

3.22.2    Industrial

3.23    Entry barrier

3.24    Degree of industrial competition

3.24.1    North America

3.24.2    Europe

3.24.3    Asia Pacific

3.24.4    Middle East

3.24.5    Africa

3.24.6    Latin America

3.25    Industry impact forces

3.25.1    Growth drivers

3.25.1.1    North America & Europe

3.25.1.1.1    Favorable regulatory inclination towards sustainable energy

3.25.1.1.2    Positive clean energy outlook

3.25.1.2    Asia

3.25.1.2.1    Large-scale renewable integration

3.25.1.2.2    Growing energy demand across isolated areas

3.25.1.3    Middle East & Africa

3.25.1.3.1    Restructuring & revamping of existing electrical infrastructure

3.25.1.3.2    Large scale renewable integration prospects

3.25.1.4    Latin America

3.25.1.4.1    Integration of a sustainable energy infrastructure

3.25.2    Industry pitfalls & challenges

3.25.2.1    Availability of auxiliary technologies

3.26    Growth potential analysis

3.27    Porter’s analysis

3.28    Competitive landscape, 2018

3.28.1    Company market share

3.28.2    Strategy dashboard

3.28.2.1    Trina Solar

3.28.2.1.1    Merger & Acquisition

3.28.2.2    Canadian Solar

3.28.2.2.1    Project Completion

3.28.2.3    First Solar

3.28.2.3.1    Collaboration

3.28.2.4    SunPower Corporation

3.28.2.4.1    Collaboration

3.28.2.5    Enviromena

3.28.2.5.1    Merger & Acquisition

3.28.2.6    Akuo Energy

3.28.2.6.1    Merger & Acquisition

3.28.2.7    Hanwha Q Cells

3.28.2.7.1    Collaboration

3.28.2.8    Bechtel

3.28.2.8.1    Regional Expansion

3.28.2.9    Juwi AG

3.28.2.9.1    Collaboration

3.28.2.10   Belectric

3.28.2.10.1   Regional expansion

3.29    PESTEL analysis

3.30    Key distributors of solar module

Chapter 4    Solar EPC Market, By Technology

4.1    Solar EPC market share by technology, 2018 & 2025

4.2    PV

4.2.1    Solar EPC market from PV, 2014 - 2025

4.2.2    Solar EPC market from PV, by region, 2014 - 2025

4.3    CSP

4.3.1    Solar EPC market from CSP, 2014 - 2025

4.3.2    Solar EPC market from CSP, by region, 2014 - 2025

About Author

Rahul Varpe    

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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