Market Overview: Global Agrivoltaics Market
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Agrivoltaics Market Insights 2024-30
The Global Agrivoltaics Market is anticipated to grow at a CAGR of around 38% during the forecast period, i.e., 2024-30.
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Top Players in the Agrivoltaics Market:
Enel Green Power
JS Power
Sun' Agri
Solar Window
Akuo Energy
BayWa r.e.
Insolight
REM Tec
Zimmermen
Next2Sun
Others
Segmentation Analysis of Agrivoltaics Market
Agrivoltaics Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Type of Material
Panels
Paints
So far, the use of conventional photovoltaic solar panels is most common since it’s a well-proven technology that helps save a lot of money on power generation. In order to generate 1 watt of electric energy, approximately 9 solar panels are needed. Currently, the total global installed capacity of Agrivoltaics has reached nearly 2,900 MW. In this total installation, solar panels have acquired a major share. However, the initial expense & difficulty with the installation of a rooftop panel often discourage people from opting the solar energy.
On the other hand, solar paints are a relatively new technology and are expected to gain popularity in the coming years since they are easy to apply and cheaper than solar panels. However, it will take time to implement this technology on a large scale. An American company, Solar Window has generated nearly 1.8 million kWh annual energy through Agrivoltaics using photovoltaic paints. The solar paint technology holds the potential to revolutionize the renewable energy sector in the following ways:
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-By Placement
Standalone
Shading Nets
Greenhouse
Others (Solar Fence, Solar Windows, etc.)
-By Cell Type
Monocrystalline
Polycrystalline
-By Crop Collaboration
Vegetables
Fruits
Crops
Others (Herbs, etc.)
-By Type of Agrivoltaics Plant
Overhead Tilted
Interspace
Hybrid
-By Type of Solar Panel
Opaque
Semi Transparent
Transparent
-By Power Output
Upto 10 KWh
1 to 50 KWh
More than 50 KWh
A Comprehensive Geographical Analysis:
-By Region
North America
South America
Europe
Middle East & Africa
Asia-Pacific
Asia-Pacific dominates the Global Agrivoltaics Market due to the rising adoption of solar modules in China, Japan, & India. In the region, China is the largest producer of photovoltaic modules. It installed 4GW of Agrivoltaics capacity in just three years, i.e., during 2015-18. The Agrivoltaics Market is rapidly expanding across the country owing to favorable policies and mounting need to broaden the domestic energy demand to solve the problems associated with the overcapacity of China's Photovoltaic industry. Hence, the implementation of Agrivoltaics in China is expected to resolve these overcapacity issues and promote the using modern agriculture methods within the country.
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