Ground Mount PV Utility Market is Expected to Represent US$19,464.1 million in 2022
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The study reveals that in terms of revenue generation, the North America ground mount PV utility market is estimated to grow from US$7,311.8 million in 2013 to US$19,464.1 million in 2022, registering an average annual growth rate (AAGR) of 11.50% from 2014 to 2022. In terms of annual installations, in 2013, the market was pegged at 3,381.4 MW, which is projected to report 17,589.7 MW in 2022, at a 20.10% AAGR during the forecast period. On the basis of installation type, the North America ground mount PV utility market is divided into pole mount, pile mount, and others. Pile mount systems held the larger share of the overall market in 2013 and the segment is likely to retain its lead right through 2022. Pole mount installations are also estimated to gain market share by 2022 driven by reduction in PV module price.
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On the basis of country, the North America ground mount PV utility market is segmented into the U.S., Mexico, and Canada. The U.S. emerged as the dominant country in 2013, reporting the highest number of ground mount PV utility installations, and this trend is likely to continue through 2022. The U.S. market is largely fueled by government grants for utility-scale projects, tax incentives, and technological innovations. The U.S. government hopes to generate clean electricity and achieve its low-carbon energy targets through the installation of utility-scale projects. The developing renewable energy market, supported by the escalating demand for power, is also contributing toward the growth of the U.S. ground mount PV utility market.
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Even though Canada is still a developing market for solar energy, it has been growing at a rather rapid pace in recent years, thanks to the reduction in solar PV installation cost and increase in overall number of installations. Currently, solar energy accounts for around 1% of the total electricity generated in Canada. Strong government support in terms of finance is likely to boost the Canada market for ground mount PV utility over the coming years. Andalay Solar, Inc., SunLink Corporation, Unirac Incorporated, Haticon Solar, LLC, SunPower Corporation, SunEdison, Inc., NextEra Energy Resources, LLC, First Solar, and SolarCity Corporation are some of the leading participants in the North America ground mount PV utility market. These companies are profiled in the research report based on aspects such as company overview, business strategies, financial standing, and recent developments.
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