Us Ground Photovoltaic Power Station Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Ground Photovoltaic Power Station Market was valued at USD 155 Billion in 2022 and is projected to reach USD 320 Billion by 2030, growing at a CAGR of 9.5% from 2024 to 2030.
The United States is witnessing a remarkable surge in ground photovoltaic power stations, significantly transforming its energy landscape. In 2023, utility-scale solar power generated 164.5 terawatt-hours (TWh), accounting for 3.9% of the nation's electricity. This growth is propelled by technological advancements and supportive policies, notably the Inflation Reduction Act (IRA) of 2022, which allocated $369 billion for clean energy infrastructure, aiming to reduce carbon emissions by 40% by 2030.
Private equity managers are optimistic about the sector's future, anticipating that the rising electricity demand—projected to reach a record 4.09 trillion kilowatt-hours with a 1.9% growth in 2025—will encourage continued investment in renewable energy projects. This optimism persists despite potential policy shifts under the Trump administration, which has expressed intentions to cut incentives and impose tariffs on renewable energy equipment. Experts caution that such policy changes could undermine America's competitive edge in the global clean-energy market.
Community solar projects are also playing a pivotal role in the clean energy transition, especially for the third of Americans who rent and over half of homeowners unable to install rooftop solar panels. Companies like Perch Energy, Arcadia, and Nautilus Solar are driving this expansion, connecting numerous subscribers and significantly reducing carbon emissions. These projects offer benefits such as cost reductions on monthly electric bills, resilience during outages, local job creation, and community wealth building. Despite challenges like grid connection delays and varying state policies, the sector is poised for significant growth, with U.S. community solar capacity potentially reaching 14 gigawatts by 2028.
However, the industry faces challenges. In California, for instance, state regulators cut payments for surplus solar power by 75% in late 2022, impacting the solar industry with job losses and fewer new installations. This policy change aimed to balance the financial burden among consumers and promote battery use for energy storage. While solar installations plummeted, ongoing federal and state incentives and rising electricity prices keep solar investments reasonably attractive. Additionally, the U.S. has significantly increased its solar panel manufacturing capacity, quadrupling to 31.3 gigawatts in the second quarter of 2024, largely due to incentives from the IRA. Despite this increase in manufacturing, solar panel installations are projected to decline, primarily due to reduced rates for excess power in California, high financing rates, and recent bankruptcies of major residential solar companies. Utility-scale installations are also forecasted to fall due to issues like labor shortages and long grid connection wait times. Although the U.S. solar sector faces challenges like cheap imported panels and potential new taxes on imported solar cells, financial incentives from the IRA are essential for fostering a domestic supply chain. Despite the predicted short-term decline, installations are expected to grow again from next year onwards.
In the Midwest, large-scale projects like the 1,600-megawatt Mammoth Solar in Indiana exemplify the trend towards massive ground-mounted photovoltaic installations. When complete, it will be one of the largest photovoltaic power stations in the United States, producing enough electricity to power 250,000 homes. Such projects highlight the scalability and potential of ground-mounted systems in contributing to the nation's renewable energy goals.
In summary, the U.S. ground photovoltaic power station market is experiencing dynamic growth, driven by technological innovation, supportive policies, and increasing demand for clean energy. While challenges persist, particularly regarding policy uncertainties and infrastructure limitations, the trajectory points towards a more sustainable and resilient energy future.
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DOSH
Raysteeds Energy Private Limited
Mibet
ACCIONA Energy
UNIEX New Energy
Sungrow Power
SHAREPOWER
CHINT
Trina Solar
YSTC Renewable Energy
Jinko Solar
JA Solar
CLEAN ENERGY CUBE
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Ground Photovoltaic Power Station Market
Monocrystalline Silicon
Polycrystalline Silicon
Thin-Film Photovoltaics
Bifacial Modules
Ground-Mounted Systems
Rooftop Systems
Floating Solar Panels
Utility Scale Plants
Commercial Solar Power Systems
Residential Solar Installations
Hybrid Power Systems
Photovoltaic Modules
Inverters
Mounting Structures
Balance of System (BOS) Components
Direct Purchase
Power Purchase Agreements (PPAs)
Leasing Options
Third-Party Ownership
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Ground Photovoltaic Power Station Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Ground Photovoltaic Power Station Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Ground Photovoltaic Power Station Market, By Type
6. Global Ground Photovoltaic Power Station Market, By Application
7. Global Ground Photovoltaic Power Station Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Ground Photovoltaic Power Station Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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