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Fixed tilt solar PV modules are slanted at the same fixed angle and ultimately save users on costs; this is why the majority of customers prefer them to the other alternatives. Moreover, it is expensive to grow the size of installed panels as compared to putting trackers on the panels. The market dynamics of the Fixed Tilt Solar Photovoltaic (PV) market indicate that solar energy is growing in popularity due to cost reasons and technological advancements in the solar industry. Fixed tilt solar PV systems, which are characterized by having stationary solar panels set at a fixed angle, have become popular for use in different applications, including large-scale installations for utility-scale solar farms and commercial installations. One of the key drivers shaping the market dynamics is the global push towards renewable energy sources. In addition, however, other factors include cost considerations and the economics of PV systems.
Technological innovations and enhancements in the efficiency of these panels are important determinants of how Fixed-tilt solar PV markets change with time. Further research has continued to focus on improving their performance, such as increasing their energy conversion rates and durability, among others, through product developments. These dynamic influences also come from government policies, incentives, and regulations promoting the adoption of solar energy, such as FiTs, taxes or tax-exemptions, interest-free loans, etc. Consequently, many countries have adopted favorable policies that would encourage people to invest in Solar Energy generation. Grid modernization initiatives alongside decentralized energy sources drive the growth of Fixed tilt solar PV systems. The benefits optimized distributed solar power generation can provide for grid resiliency and reliability become more apparent when considering planned utilities' Distributed Energy Resources investments.
Overall dynamics in the Fixed tilt solar PV market tend to be swayed by worldwide market trends, regional sunlight conditions, or changes in overall dynamics. In emerging economies, this demand is driven by factors like growth rate variations across country regions with urbanization trends. Some major drivers considered include the global shift toward the use of renewables, advances in technology, national support programs, environmental sustainability goals, and the need for decentralized energy solutions. Fixed tilt solar PV systems present, therefore, an inexpensive yet efficient alternative to the adoption of solar power within various sectors while playing their part in the global transition towards green energy.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 11.92% (2022-2030 |
Fixed Tilt Solar PV Market Highlights:
Fixed Tilt Solar PV Market Overview
The Fixed Tilt Solar PV Market share can touch USD 2.21 Billion by 2032, with an 9.50% CAGR from 2024 to 2032 (review period).
For the best solar power capture, fixed-tilt solar PV systems tilt the system at a set degree. In both industrialized and developing nations, utility-scale PV uses this solar PV technology extensively. The bulk of those built in the US were angled between 20 and 30 degrees. The global market's expansion has been spurred by the increasing use of solar PV systems for the generation of renewable energy in numerous countries throughout the world. Continuous efforts to improve solar PV system performance and efficiency would be advantageous for the fixed-tilt type solar PV industry. Large-scale solar power plant deployment across the globe will shape the market in the ensuing years.
The solar technology breakthrough known as the thin-film photovoltaic module is fast growing its market share in the solar power industry, which is expected to rule the market over the forecast period.
Utility-scale fixed-tilt systems are anticipated to cost USD 0.70 per watt by 2022, creating new opportunities for solar energy that is incredibly affordable. In the upcoming years, this is anticipated to open up a market for fixed-tilt solar PV systems. During the projected period, rising tracking system usage is anticipated to constrain the market for fixed-tilt solar systems.
Fixed Tilt Solar PV Market Driver
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Governments give efforts to elevate use of renewable energy sources
Globally, governments are promoting the use of renewable energy sources by providing subsidies, incentives, and tax advantages. For instance, the Solar ITC in the US offers both business and residential users who install solar energy systems a 30% reduction in federal taxes. FiT policies have been developed by nations like Australia and China to promote significant investments in renewable technologies. Additionally, the dwindling supply of fossil fuels and the rise in environmental concerns have pushed many nations to embrace solar, wind, and other renewable energy sources. As a result, there are now more solar farms being built, which has raised the demand for BOS, including fixed solar PVs. Over the forecast period, these factors are augmenting the expansion of the fixed-tilt solar PV market worldwide.
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Rising focus on developing next-gen products
One of the key developments in next-generation solar PV module development is the creation of mono PERC and bifacial solar PV modules. Bifacial solar PV modules are more powerful than monofacial solar PV modules because they produce power from both sides of the solar PV module. The adoption of cutting-edge PERC technology boosts productivity and produces a rapid return on investment, which lowers the price of solar PV systems. High electrical output is achieved via the PERC solar cells' tiny pockets in the film, which are designed to absorb as much sunlight as possible. It is anticipated that the mono PERC and bifacial technology integration will lower power loss and improve the operational efficiency of solar PV cells.
Fixed Tilt Solar PV Market Segment Insights:
Fixed Tilt Solar PV Market Technology Insights
Crystalline silicon, thin film, and other products are among the technology-based market segments. Due to the rising number of installations of residential solar equipment, the crystalline silicone sector is anticipated to have the biggest market share over the projection period.
However, because of the equipment's high efficiency and declining cost, the thin film segment is anticipated to increase at the quickest rate during the projected period. Solar cells with light-absorbing layers make up thin-film (TF) solar panels, which are more than 350 times smaller than conventional silicon panels. Since they have an effective semiconductor built right into them and have a small design, they are regarded as the lightest PV cell. Due to their smaller material requirements, thin-film solar cells are less expensive to manufacture than conventional silicon solar cells.
Fixed Tilt Solar PV Market Application Insights
On-grid and off-grid applications are the two divisions of the global market. The on-grid segment had the biggest market share in 2019, however, due to rising off-grid installations in remote locations, the off-grid sector is anticipated to grow at the highest CAGR over the forecast period.
Fixed Tilt Solar PV Market Regional Insights
Europe, North America, Asia-Pacific, and the Rest of the World are recognized as the top segments by region in the study.
For manufacturers of fixed tilt solar PV, APAC offers lucrative potential for expansion. Fixed tilt solar PV mounting structures are in high demand because of the existence of financial incentive programs in China and Japan, such as FiTs. The market for solar energy is expanding quickly in India as a result of government policies that are encouraging the falling cost of solar power generation. The fixed tilt solar PV market in APAC is anticipated to increase as a result of these factors.
Additionally, several governments plan to gradually phase out the production of electricity from traditional sources like coal and nuclear power. The fixed tilt solar PV industry has benefited greatly from the growing public awareness of the advantages of renewable energy. By the end of 2022, India, one of the largest solar markets in Asia and the Pacific, intends to install 100 GigaWatts of solar power system infrastructure.
Solar energy makes up a sizable component of the energy mix in Europe. In 2022, 3.6 percent of the electricity produced in Europe came from solar energy. By 2040, this contribution will have grown to 20%, according to BloombergNEF. As a result of a growth in the production of electricity utilising solar power, the market in Europe is anticipated to grow throughout the forecast period. The amount of energy emissions in Europe decreased by 1.3% in 2022. In addition, a number of European nations have switched to using lower-carbon energy sources. The European region has depended on energy imports between 53 and 55 percent over the past few years.
Fixed Tilt Solar PV Market Players & Competitive Insights
Businesses are concentrating on diversifying their product offering and spending money on R&D to create cutting-edge items while also focusing on strategies like partnerships, mergers and acquisitions, and more. To illustrate, in July 2023, through its Clean Energy Infrastructure Fund, Modus Asset Management acquired from renewables developer Evecon control of a 55MW ground-mounted solar PV portfolio in Latvia. The portfolio comprises ten PV projects that are all nearly ready to be built and all use bifacial PV modules in single-axis tracker and fixed tilt configurations. The Clean Energy Infrastructure Fund is Modus's fourth such financing source. Its planned capacity for investment in solar photovoltaic (PV), battery energy storage, and onshore wind projects is €200 million (US$224 million).
Some of the key manufacturers of fixed tilt solar PVs are Canadian Solar, Engie, First Solar, Unirac, Solar FlexRack, Trina Solar, Yingli Solar, JinkoSolar, Wuxi Suntech Power Co., Ltd, and SolarCity Corporation.
Fixed Tilt Solar PV Market Segmentation
Fixed Tilt Solar PV Market, By Technology
- Crystalline Silicone
- Thin Film
Fixed Tilt Solar PV Market, By Application
- On-Grid
- Off-Grid
Fixed Tilt Solar PV Market Regional Outlook
- Europe
- Germany
- France
- UK
- Rest of Europe
- North America
- US
- Canada
- Mexico
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- South America
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