Market Size of Ireland Solar Panel to Be Valued at USD 1,324.0 Million By 2030 | Infinium Global Research

Infinium Global Research has added a new report on Ireland Solar Panel Market. The report covers the analysis of the regional markets of Ireland. Moreover, the report gives insights into the factors that affect the regional performance of the market in the short run and in the long run. The Ireland solar panel market is a customer intelligence and competitive study of the demand, forecasts, trends, and macro indicators in the Ireland market. The dynamics include drivers, restraints, opportunities, political, and socioeconomic factors, technological factors, key trends, and future prospects. The Ireland solar panel market was valued at USD 541.3 Million in 2022 and is expected to reach USD 1,324.0 Million by 2030 and grow at a CAGR of 12.06% over the forecast period.

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Clean and Sustainable Energy Demand

The primary catalyst for the growth of the Ireland solar panel market is the escalating demand for clean and sustainable sources of energy. The Irish government is taking proactive measures to promote renewable energy sources that are both cost-effective and efficient in meeting the nation's energy requirements. As an EU state, Ireland is committed to the 2009 Renewable Energy Directive, aiming to generate 16% of its energy from renewable resources by 2020. This directive necessitates that 40% of the country's electricity demand be fulfilled through renewable resources, a driving force behind the solar panel market's growth.

The Sustainable Energy Authority of Ireland (SEAI) has also lent support to the market through initiatives like the Residential Rooftop Solar PV Scheme, which offers financial contributions of up to €3,800 for total installation costs. The scheme's goal is to boost the adoption of solar energy and create job opportunities in Ireland's burgeoning solar sector. The SEAI expects this strategy to enhance public understanding and acceptance of solar energy, further propelling market growth in the years to come.

Solar Panel Price Reduction and Government Support

One of the most notable developments in the energy sector is the remarkable reduction in solar photovoltaic (PV) prices. Over the last decade, the cost of solar equipment has dropped by more than 80%. This significant price reduction has led to the industry's expansion into new markets and the deployment of thousands of solar systems nationwide. The Irish government's Climate Action Plan and its €3.7 million commitment to support home solar panel installations underscore Ireland's commitment to domestic solar power cultivation.

The lifting of an EU ban on Chinese solar imports also enhances the viability of green energy products in Ireland. This policy change is expected to reduce the cost of new solar projects by approximately 10%, stimulate increased supply and competition, and promote the adoption of solar energy. The removal of solar import controls from China follows a 2013 ban, which accused the country of selling solar technology at artificially low prices to eliminate European competition. As the industrial sector accounts for over 40% of Ireland's total energy consumption, the government's focus on solar energy is driven by both environmental concerns and economic advantages.

Challenges and Opportunities

While the prospects for solar energy in Ireland are promising, some challenges must be addressed. Ireland's climate presents limitations for solar energy generation, with fluctuations in energy production due to changing weather conditions. Additionally, the high costs associated with expanding the national grid hinder solar energy's growth. Regulatory restrictions, such as limits on the size of solar panel installations, further challenge the solar market's expansion.

However, despite these challenges, opportunities for market growth abound. Innovative design, optimization of integrated systems, and the development of high-value integrated PV products, including glazing, facades, and roofing products, can provide significant growth opportunities. Research institutions in Ireland possess expertise in emerging photovoltaic technologies, and the government's recognition of solar PV's versatility positions it as a key player in the nation's renewable energy landscape.

The Irish government's Climate Action Plan identifies the potential for 1.5GW of grid-scale solar power in Ireland by 2030, emphasizing solar PV's role in urban and rural energy projects. The non-intrusive nature of the technology makes it suitable for large-scale projects and holds the potential to shape Ireland's energy future.

For comprehensive profiles of key players in the Ireland solar panel market, including Activ8 Solar Energies, MarVal Power Ltd., Enerpower, Glenergy Ltd., and ESB Group, please refer to the full market research report.

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Table of Content

Chapter 1. Report Overview

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

Chapter 3. Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.2.4. Challenges

3.3. PEST-Analysis

3.4. Porter's Diamond Model for Ireland Solar Panel Market

3.5. IGR-Growth Matrix Analysis

3.6. Competitive Landscape in Ireland Solar Panel Market

Chapter 4. Ireland Solar Panel Market by Type

4.1. Monocrystalline

4.2. Polycrystalline

4.3. Concentrated PV Cell

Chapter 5. Ireland Solar Panel Market by Applications

5.1. Residential

5.2. Commercial

5.3. Off Grid

Chapter 6. Company Profiles

6.1 Competitive landscape

6.2 Company Profiles

6.2.1 Activ8 Solar Energies

6.2.1.1 Overview

6.2.1.2 Company Overview

6.2.1.3 Product Portfolio

6.2.1.4 Recent Development

6.2.2 Marval Power Ltd

6.2.2.1 Overview

6.2.2.2 Company Overview

6.2.2.3 Product Portfolio

6.2.3 Enerpower

6.2.3.1 Overview

6.2.3.2 Company Overview

6.2.3.3 Product Portfolio

6.2.3.4 Recent Development

6.2.4 Glenergy Ltd

6.2.4.1 Overview

6.2.4.2 Company Snapshot

6.2.4.3 Product Portfolio

6.2.5 ESB Group

6.2.5.1 Overview

6.2.5.2 Company Snapshot

6.2.5.3 Product Portfolio

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/ireland/enquiry/3394

Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of Ireland solar panel.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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