The report will be delivered in 2-3 business days.

Solar Electricity Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Starting Price : $4000 | Pages : 175 | Published : January 2021 | SKU CODE : | Format :


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 electricity market is expected to grow from $1947.2 billion in 2020 to $2078.17 billion in 2021 at a compound annual growth rate (CAGR) of 6.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2762.29 billion in 2025 at a CAGR of 7%.

The solar electric power generation market covered in this report is segmented by technology into photovoltaic systems, concentrated solar power systems.

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, According to the world economic forum (WEF) 2020, global investment into renewable energy reached $282.2 billion last year. 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 micro grid 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.

The major players covered in the global solar electricity 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., 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.

The countries covered in the global solar electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia.

The regions covered in the global solar electricity market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The global solar electricity market is segmented -

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

    1. Executive Summary

    2. Solar Electric Power Generation Market Characteristics

    3. Solar Electric Power Generation Market Trends And Strategies

    4. Impact Of COVID-19 On Solar Electric Power Generation

    5. Solar Electric Power Generation Market Size And Growth

    5.1. Global Solar Electric Power Generation Historic Market, 2015-2020, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Solar Electric Power Generation Forecast Market, 2020-2025F, 2030F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Solar Electric Power Generation Market Segmentation

    6.1. Global Solar Electric Power Generation Market, Segmentation  By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Photovoltaic Systems

    Concentrated Solar Power Systems

    6.2. Global Solar Electric Power Generation Market, Segmentation  By Solar Module, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

     Monocrystalline

    Polycrystalline 

    Cadmium Telluride

    Amorphous Silicon Cells

    Others

    6.3. Global Solar Electric Power Generation Market, Segmentation  By End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    Residential

    Commercial

    Industrial  

    7. Solar Electric Power Generation Market Regional And Country Analysis

    7.1. Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    7.2. Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    8. Asia-Pacific Solar Electric Power Generation Market  

    8.1. Asia-Pacific Solar Electric Power Generation Market Overview  

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    9. China Solar Electric Power Generation Market  

    9.1. China Solar Electric Power Generation Market Overview  

    9.2. China Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F,$ Billion

    10. India Solar Electric Power Generation Market  

    10.1. India Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    11. Japan Solar Electric Power Generation Market  

    11.1. Japan Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    12. Australia Solar Electric Power Generation Market  

    12.1. Australia Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    13. Indonesia Solar Electric Power Generation Market  

    13.1. Indonesia Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    14. South Korea Solar Electric Power Generation Market  

    14.1. South Korea Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    15. Western Europe Solar Electric Power Generation Market  

    15.1. Western Europe Solar Electric Power Generation Market Overview

    15.2. Western Europe Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    16. UK Solar Electric Power Generation Market  

    16.1. UK Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    17. Germany Solar Electric Power Generation Market  

    17.1. Germany Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    18. France Solar Electric Power Generation Market  

    18.3. France Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    19. Eastern Europe Solar Electric Power Generation Market  

    19.1. Eastern Europe Solar Electric Power Generation Market Overview

    19.2. Eastern Europe Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    20. Russia Solar Electric Power Generation Market  

    20.1. Russia Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    21. North America Solar Electric Power Generation Market  

    21.1. North America Solar Electric Power Generation Market Overview

    21.2. North America Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    22. USA Solar Electric Power Generation Market  

    22.1. USA Solar Electric Power Generation Market Overview

    22.2. USA Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    23. South America Solar Electric Power Generation Market  

    23.1. South America Solar Electric Power Generation Market Overview

    23.2. South America Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    24. Brazil Solar Electric Power Generation Market  

    24.1. Brazil Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    25. Middle East Solar Electric Power Generation Market  

    25.1. Middle East Solar Electric Power Generation Market Overview

    25.2. Middle East Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

    26. Africa Solar Electric Power Generation Market  

    26.1. Africa Solar Electric Power Generation Market Overview

    26.2. Africa Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion

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

    27.1. Solar Electric Power Generation Market Competitive Landscape

    27.2. Solar Electric Power Generation Market Company Profiles

    27.2.1. Enel SpA

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Exelon Corp.

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Dominion Energy, Inc

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Engie S.A

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Canadian Solar Inc.

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

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

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

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Research Inquiries

    30.4. The Business Research Company

    30.5. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Table 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Table 3: Global Solar Electric Power Generation Market, Segmentation  By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 4: Global Solar Electric Power Generation Market, Segmentation  By Solar Module, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 5: Global Solar Electric Power Generation Market, Segmentation  By End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 6: Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 7: Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 8: Asia-Pacific, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 9: China, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 10: India, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 11: Japan, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 12: Australia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 13: Indonesia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 14: South Korea, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 15: Western Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 16: UK, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 17: Germany, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 18: France, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 19: Eastern Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 20: Russia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 21: North America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 22: USA, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 23: South America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 24: Brazil, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 25: Middle East, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Table 26: Africa, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ 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

List Of Figures

    Figure 1: Global Historic Market Growth, 2015-2020, $ Billion
  • Figure 2: Global Forecast Market Growth, 2020-2025F, 2030F, $ Billion
  • Figure 3: Global Solar Electric Power Generation Market, Segmentation  By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 4: Global Solar Electric Power Generation Market, Segmentation  By Solar Module, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 5: Global Solar Electric Power Generation Market, Segmentation  By End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 6: Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 7: Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 8: Asia-Pacific, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 9: China, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 10: India, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 11: Japan, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 12: Australia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 13: Indonesia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 14: South Korea, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 15: Western Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 16: UK, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 17: Germany, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 18: France, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 19: Eastern Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 20: Russia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 21: North America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 22: USA, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 23: South America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 24: Brazil, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 25: Middle East, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
  • Figure 26: Africa, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ 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
The Global Power Generation Market Was The Largest In China And The USA
EDF Was The Largest Company In The Generation, Transmission, And Distribution Industry
Lithium-Ion Batteries Global Market Report 2020
View Report
Water Heaters Global Market Report 2021: COVID 19 Impact and Recovery to 2030
View Report
Electricity And Signal Testing Instruments Global Market Report 2021: COVID 19 Impact and Recovery to 2030
View Report
Semiconductor And Related Devices Global Market Report 2021: COVID 19 Impact and Recovery to 2030
View Report
Solar Electric Power Generation Global Market Report 2020
View Report
Wind Electric Power Generation Global Market Report 2020
View Report
Power Generation Global Market Report 2021: COVID-19 Impact and Recovery to 2030
View Report

Call Us

+1 3156230293

(Americas)

+44 2071930708

(Europe)

+91 8897263534

(Asia & Others)