Market Overview: Global Agrivoltaics Market

MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Agrivoltaics Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Agrivoltaics Market Insights 2024-30

The Global Agrivoltaics Market size was valued at USD 3.64 billion in 2022 and further expected to grow at a CAGR of 38% during the forecast period 2024-2030.

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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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