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Solar Electric Power Generation Global Market Report 2020

Starting Price : $ 4000.00 | Pages : 150 | Published : February 2020 | SKU CODE : 7324 | 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 electric power generation market reached a value of nearly $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 $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.

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 $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.

The major players in the global solar electric power generation 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.

The countries covered in the global solar electric power generation market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia

The Global Solar Electric Power Generation 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 Size And Growth

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

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

    Table 1: Global Historic Market Growth, 2015-2019, $ Billion
  • Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 3: Global Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 4: Global Solar Electric Power Generation Market, Segmentation By Solar Module, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 5: Global Solar Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 6: Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 7: Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 8: Asia-Pacific, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 9: China, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 10: India, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 11: Japan, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 12: Australia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 13: Indonesia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 14: South Korea, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 15: Western Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 16: UK, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 17: Germany, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 18: France, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 19: Eastern Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 20: Russia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 21: North America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 22: USA, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 23: South America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 24: Brazil, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 25: Middle East, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Table 26: Africa, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 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, 2015-2019, $ Billion
  • Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 3: Global Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 4: Global Solar Electric Power Generation Market, Segmentation By Solar Module, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 5: Global Solar Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 6: Global Solar Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 7: Global Solar Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 8: Asia-Pacific, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 9: China, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 10: India, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 11: Japan, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 12: Australia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 13: Indonesia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 14: South Korea, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 15: Western Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 16: UK, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 17: Germany, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 18: France, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 19: Eastern Europe, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 20: Russia, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 21: North America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 22: USA, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 23: South America, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 24: Brazil, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 25: Middle East, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
  • Figure 26: Africa, Solar Electric Power Generation Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 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
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