Fixed Tilt Solar PV Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Fixed Tilt Solar PV Market - Snapshot
A large number of utility-scale solar photovoltaic (PV) systems are fixed-tilt PV systems. They are different than tracking systems in that they are fixed at 20 degrees and 30 degrees from the horizon. Usually, the tilt of non-tracking is equal to the latitude. Being a low-cost solar panel mount, fixed-tilt PV systems have gained attention among end users. The high cost of the tracking PV systems has dissuaded many to adopt these, proving to be a motivating factor for spurring the growth of the fixed-tilt PV systems.
However, there are instances where end users have adopted these by making a careful analysis of the breakeven point. Utility scale PV cells that use tracking systems are considered a viable option when the cost of installation is offset by the gains these will offer in terms of revenue. Thus, players in the fixed tilt solar PV market are facing stiff competition in the recent years, especially in established markets.
The technical simplicity is utility-scale ground mount is a compelling proposition propelling the growth of the fixed tilt solar PV market. Growing focus of energy sector to increase the percentage of renewables in the overall energy mix, companies in end-use industries are keenly looking to weigh in the benefits by tracking the return on investment (RoI) of these. The fixed tilt solar PV market dynamics has been increasingly influenced by price competition being witnessed by players in the solar power sector. Manufacturers in the fixed tilt solar PV market on the other hand are leaning on unveiling new designs that improve the performance, leading to higher return on investments. Growing gigawatts of installations of fixed-tilt PV systems have led to the expansion of the fixed tilt solar PV market. The design options of fixed tilt systems have expanded considerably over the years, enriching the market landscape.
Global Fixed Tilt Solar PV Market: Overview
Fixed tilt type solar PV systems are characterized by tilting the system by a definite angle to facilitate the optimal capture of solar power. Over the past few years, this type of solar PV system found substantial implementation in utility-scale PV in developed and developing countries. Most of them installed in the U.S. were at an angle ranging from 20 to 30 degrees. The evolution of the global fixed tilt solar PV market has gained substantial impetus from the rising application of solar PV systems in the production of renewable energy in various countries across the globe.
Relentless efforts to improve the efficiency and performance of solar PV systems bode well for the global fixed tilt type solar PV market. Large-scale deployment of solar power plants in various parts of the globe will define the contours of the market during 2018–2028.
Global Fixed Tilt Solar PV Market: Notable Developments
Renewable energy investors are spending sizably on new solar PV projects and bolstering production in large projects in developed countries. Several of these developments have taken place in Massachusetts. Numerous such projects are characterized by ground-mounted fixed-tilt solar PV.
Numerous developing regions have been lately witnessing promising prospects in the global fixed tilt solar PV market. Utility companies have started making efforts in updating solar PV projects, taking it to ‘Ready-to-Build’ stage. Etrion Corporation, a Swiss-headquartered utility company, has recently announced update on its Niigata solar project in Japan. The fixed-tilt solar PV power project is expected to start operations by 2021 subject to 3-year development. The solar independent power producer announced recently (April 2019) that it is in the process of completing its civil engineering works, along with all engineering, procurement, and construction contracts. The news bodes well for bringing new avenues in the global fixed tilt solar PV market.
The 45 MW project is likely to start construction in July, 2019. With the necessary permits in place, the Niigata project is likely to double its capacity by 2021. This will create new revenues in the Japan, as well as open lucrative prospects in the overall fixed tilt solar PV market.
Some of the most prominent competitors operating in the competitive landscape of global fixed tilt solar PV market include –
Global Fixed Tilt Solar PV Market: Key Growth Dynamics
The global fixed tilt solar PV market has been containing considerable momentum from the rising demand for solar energy production from PV panels. Pressing need for increasing the renewable energy in the worldwide energy mix has been a potential factor for driving the evolution of the fixed tilt solar PV market.
The fixed tilt solar PV market has gathered a big growth impetus from stringent environmental regulations on the adoption of clean energy. Decline in prices of solar PV cells in some regions over the past few years have also filliped the solar power production, which in turn is boosting the global fixed tilt solar PV market. However, in the light of constantly reducing prices of PV panels, the return on investments for PV project owners have been hampered. This has resulted in single-axis trackers gaining traction.
Nevertheless, advancements in mechanical and electrical design will bolster the performance of solar PV, thus fueling the demand for fixed tilt solar PV.
Global Fixed Tilt Solar PV Market: Regional Assessment
Geographically, Asia Pacific is likely to a potentially lucrative market for fixed tilt solar PV. A large part of the growth in the region comes from substantial production of solar energy from fixed tilt solar PV plants in several of its economies. The demand for fixed tilt solar PV in the region will also be catalyzed by rising awareness about clean energy technologies. In particular, China has risen to prominence in the global fixed tilt solar PV market on account of massive production of PV panels. India is also expected to play a major role in the growth dynamics of the fixed tilt solar PV market.
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