Ground Mounted Solar PV

Global Ground Mounted Solar PV Market to Reach US$132.8 Billion by 2030

The global market for Ground Mounted Solar PV estimated at US$104.0 Billion in the year 2024, is expected to reach US$132.8 Billion by 2030, growing at a CAGR of 4.2% over the analysis period 2024-2030. On-Grid Connectivity, one of the segments analyzed in the report, is expected to record a 4.7% CAGR and reach US$96.4 Billion by the end of the analysis period. Growth in the Off-Grid Connectivity segment is estimated at 2.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$28.3 Billion While China is Forecast to Grow at 7.7% CAGR

The Ground Mounted Solar PV market in the U.S. is estimated at US$28.3 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$27.3 Billion by the year 2030 trailing a CAGR of 7.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.7% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.

Global Ground Mounted Solar PV Market – Key Trends & Drivers Summarized

Can Ground Mounted Solar PV Systems Dominate the Future of Utility-Scale Renewable Energy?

Ground-mounted solar photovoltaic (PV) systems are emerging as a leading solution for large-scale renewable energy generation, driven by global decarbonization initiatives and the falling costs of solar technology. Unlike rooftop solar panels, ground-mounted systems offer higher efficiency, easier maintenance, and scalability for utility-scale power plants. With governments worldwide implementing ambitious clean energy targets, investments in solar farms are increasing, particularly in regions with high solar potential such as the U.S., China, India, and the Middle East. Advancements in PV module efficiency, including bifacial and monocrystalline technologies, are further enhancing energy yields from ground-mounted installations. However, challenges such as land availability, permitting delays, and grid connectivity constraints remain key barriers. Despite these hurdles, the continued expansion of solar PV capacity is positioning ground-mounted installations as a critical component of the global energy transition.

How Are Bifacial and High-Efficiency Modules Transforming Ground Mounted Solar PV?

The adoption of bifacial solar modules and high-efficiency photovoltaic technologies is revolutionizing ground-mounted solar PV performance. Bifacial panels, which capture sunlight from both the front and rear surfaces, significantly improve energy output by utilizing reflected sunlight from the ground. Similarly, monocrystalline and PERC (Passivated Emitter and Rear Cell) technologies are increasing efficiency levels, enabling higher power generation from the same land area. Innovations in tracker-mounted PV systems, which optimize panel angles throughout the day, are further enhancing energy yields. While these advancements improve long-term return on investment (ROI), the initial costs of high-efficiency modules and advanced tracking systems pose challenges for developers. Nevertheless, as economies of scale drive down costs and efficiency improvements continue, the adoption of next-generation PV modules in ground-mounted systems is expected to accelerate.

Can Floating Solar PV and Agrivoltaics Complement Ground Mounted Solar Expansion?

With land constraints becoming a growing challenge for ground-mounted solar PV deployment, alternative solutions such as floating solar farms and agrivoltaics are gaining traction. Floating PV systems installed on reservoirs and water bodies help maximize land use while reducing water evaporation and improving panel cooling efficiency. Meanwhile, agrivoltaic systems integrate solar panels with agricultural activities, allowing land to be used for both energy generation and crop cultivation. These dual-purpose approaches are particularly relevant in densely populated regions where land availability is limited. However, regulatory hurdles, high installation costs, and technical integration challenges remain obstacles to widespread adoption. Despite these limitations, the complementary role of floating solar and agrivoltaics in expanding renewable energy capacity is expected to drive new innovations and investment in the sector.

What Is Driving the Growth of the Ground Mounted Solar PV Market?

The growth in the ground-mounted solar PV market is driven by several factors, including increasing government incentives for solar energy, advancements in high-efficiency PV modules, and the rising adoption of tracker-based solar farms. The declining cost of solar panels, combined with improved financing mechanisms, is making utility-scale solar more attractive to investors. The expansion of energy storage solutions, such as lithium-ion and flow batteries, is further enhancing the reliability of ground-mounted solar installations. Additionally, the push for hybrid renewable energy systems, integrating solar with wind and hydroelectric power, is creating new opportunities for large-scale solar projects. While challenges such as grid infrastructure limitations, land acquisition complexities, and regulatory uncertainties persist, the strong momentum toward carbon neutrality is expected to sustain the long-term growth of the ground-mounted solar PV market.

SCOPE OF STUDY:

The report analyzes the Ground Mounted Solar PV market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Connectivity (On-Grid Connectivity, Off-Grid Connectivity); End-Use (Residential End-Use, Commercial & Industrial End-Use, Utility End-Use)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 42 Featured) -

• ACME Solar
• Adani Green Energy Limited
• Azure Power
• Canadian Solar Inc.
• First Solar, Inc.
• Hanwha Q CELLS
• Hero Future Energies
• JA Solar Technology Co., Ltd.
• Jakson Group
• JinkoSolar Holding Co., Ltd.
• LONGi Green Energy Technology Co., Ltd.
• Mahindra Susten
• NTPC Limited
• ReNew Power
• Risen Energy Co., Ltd.
• SunPower Corporation
• Tata Power Solar Systems Ltd.
• Trina Solar Limited
• Vikram Solar Limited
• Waaree Energies Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.