Transparency Market Research has published a new report "Ground Mount PV Utility Market - North America Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022" to its report store.
Albany, NY -- (SBWIRE) -- 07/06/2015 -- Transparency Market Research has released a new market research report titled Ground Mount PV Utility Market by Installation - North America Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022. According to the report, the ground mount PV utility annual installation in North America stood at 3,381.4 MW in 2013 and is expected to reach 17,589.7 MW by 2022, expanding at an AAGR of 20.1% between 2014 and 2022. Revenue generated through installations of North America ground mount PV utility market projects was valued at USD 7,311.8 million in 2013 and is projected to reach USD 19,464.1 million by 2022 at an AAGR of 11.5% between 2014 and 2022.
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The solar PV industry in North America is gaining momentum is one of the promising renewable energy generation technology markets. The solar PV market in North America and across the globe is persistently growing towards competitiveness in the electricity sector. Fall in the prices of solar PV component, system, and technologies accompanied by rising electricity prices have assisted in achieving grid parity chiefly in North America. Government support has been instrumental in the progress of the utility-scale solar PV market in North America. Tax incentives and stimulus funded by the government have helped in increasing the installations of utility-scale solar PV in North American countries. Particularly the U.S. individual states in the country have also played a key role in increasing the adoption of renewables, including solar through the renewable portfolio standards (RPS). Additionally, financial incentives in the form of rebates and tax credits and exemptions are also being provided by the states, which would boost growth in the utility scale solar PV industry.
The ground mount utility market in North America, based on country-wise segment, has been divided into the U.S., Canada, and Mexico. The cumulative installations of utility-scale solar projects in the U.S. were estimated to be about 8 GW by 2014. The utility-scale projects are increasingly becoming economically-sound in comparison to other renewables including wind power, particularly in the desert southwest and California. This is anticipated to fuel additional growth in the ground mount PV utility market in North America.
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The U.S. accounted for the highest installations of ground mount PV utility in 2013 and is expected to continue to dominate the market over the forecast period. Growth in the ground mount PV utility market in the U.S. is driven by technological innovations, tax incentives, and government grants for utility-scale PV projects. The installation of utility-scale projects is expected to generate clean electricity and help the nation meet its low-carbon energy targets. Rapidly growing demand for energy coupled with the cost of replacing aging power generation units is encouraging the development of renewable energy. Canada is a developing solar market and solar represents about 1% of the total electricity generated in the country. Canada's solar industry is growing at a rapid pace as it exhibits increase in solar PV installations and reduction in costs. The financial support at various levels by the government for the development of both solar PV and ground mount projects would result in higher growth in the market for ground mount solar PV utility in Canada in the near future.
Companies across the region are adopting the strategy of forward and backward integration, thereby providing turnkey solutions to customers. Mounting systems manufacturers are strategically integrating to provide installation and racking solutions. Key participants in the ground mount PV utility market in North America include Andalay Solar, Inc., First Solar, Haticon Solar, LLC, NextEra Energy Resources, LLC, SolarCity Corporation, SunEdison, Inc., SunLink Corporation, SunPower Corporation, and Unirac Incorporated. This report provides an overview of these companies, followed by their financial revenues, business strategies, and recent developments. The ground mount PV utility market in
North America has been segmented as follows:
North America Ground Mount PV Utility Market: Installation Type Analysis
North America Ground Mount PV Utility Market: Country-wise Analysis
Browse Press Release Of Ground Mount PV Utility Market
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