06 Jun 2019 San Francisco; The global solar tracker market is expected to reach 26.77 GW installed capacity by 2025, according to a new report by Grand View Research, Inc. Rising demand for renewable energy in developing countries is expected to drive demand for the solar tracker. The product exhibits the ability to generate electricity in the same amount of space needed for fixed-tilt systems which make them an ideal product for optimum land usage. Solar trackers have the ability to increase the direct exposure by around 20% - 30% as they improve the precision in sunlight tracking. The major restraining factor is the high costs involved in the installation of solar trackers.
Prevalence of supporting regulations in North America is expected to be a key factor responsible for the high growth. Reduction in feed-in tariff rate has hampered market growth, however, the incentive schemes under the Italian legislative regime, highest global subsidies for RES (Renewable Energy Sources) is expected to drive market demand.
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www.grandviewresearch.com/industry-analysis/solar-tracker-industry
Further key findings from the report suggest
Grand View Research has segmented the global solar tracker market on the basis of technology, product, application and region:
Technology Outlook (Capacity, Megawatts,2014 - 2025)
Product Outlook (Capacity, Megawatts; Revenue, USD Million, 2014 - 2025)