Australia Solar Power Market

Australia Solar Power Market by Types (Solar Photovoltaic (PV) and Concentrated Solar Power (CSP)), PV Deployments (Utility and Non-utility), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021–2028.

  • Report ID: EP-1306
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 190
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The Australia solar power market is expected to expand at a CAGR of 19.5 % during the forecast period, 2021-2028. The growth of the market is attributed to favorable government schemes for small-scale solar power generation companies.

Solar power is one of the cleanest energy reserve. It has infinite pool of energy source. The radiant energy emitted from the sun is harnessed by using various technologies to use solar energy for electricity generation. Photovoltaic cells are utilized for extracting the solar energy for power utility. It is an efficient form of unconventional energy and a convenient renewable solution. Growing greenhouse emissions is driving the growth of the market.

The demand for solar cells has gained major traction owing to surge in rooftop installations, followed by increasing applications in the architectural sector. Moreover, the increasing demand for parabolic troughs and solar power towers in electricity generation is expected to boost the demand for concentrated solar power systems in the country.

Australia Solar Power Market summary

Despite of the COVID-19 pandemic, the market share of alternative clean energy sources such as solar, hydro and wind power has increased at a healthy rate. Delays in large-scale solar power projects owing to the pandemic hampered the market growth; however, the market is expected to reach the pre-COVID level soon.

Market Drivers, Restraints, Trends, and Opportunities

  • Increasing environmental pollution and provision of government incentives & tax rebates to install solar panels are expected to proliferate the market growth.
  • Decreasing water footprint associated with solar energy systems has fueled their demand in power generation sector, stimulating the growth of the market
  • Factors such as the declining cost of solar PV and associated systems are driving the growth of the market during the forecasted period.
  • The global COVID-19 pandemic has caused several disruptions in the industry's supply chain. However, supportive packages announced by the government for the renewable energy sector are expected to drive the market during the forecast period.
  • Rising investment in the R&D activities and ongoing technological advancements are anticipated to fuel the market growth in the projected timeline.

Scope of the Report

The report on the Australia Solar Power Market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Australia Solar Power Market -  Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Solar Photovoltaic (PV) and Concentrated Solar Power (CSP) and PV Deployments (Utility and Non-utility)

Geographic Zone

Australia

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

AGL Energy Limited, Infigen Energy Ltd., Neoen SA, FirstSolar Inc., and SunPower Corporation

 

Australia Solar Power Market Segment Insights

Solar photovoltaic (PV) segment to account a large market share

Based on types, the market is bifurcated into solar photovoltaic (PV) and concentrated solar power (CSP)). The solar photovoltaic (PV) segment is projected to account for a large market share during the forecast period. The segment growth is attributed to the increased using of PV cells in the solar power market for energy generation. Low cost of solar PV and declining cost of semiconductor are further boosting the growth of the market segment.

Australia Solar Power Market types

Utility segment to exhibit a high CAGR

Based on PV deployments, the market is divided into utility and non-utility. The utility segment is projected to expand at a high CAGR during the forecast period. As of 2020, around 6.07 GW of solar power capacity, worth AUD 9.53 billion is under construction or due to the start in Australia. This huge capacity in pipeline is expected to boost the growth of utility-scale solar power in the country during the forecast period.

Australia Solar Power Market pv deployment

 

Despite a large capacity of solar power projects in the pipeline, the global COVID-19 pandemic has caused several disruptions in the supply chain of Australia’s renewable energy, including the solar market. Around 3 GW of wind and solar projects in Australia are expected to be delayed, due to the COVID-19 pandemic. However, declining number of cases due to the expanding vaccination drive is expected to fuel the market segment growth.

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar Power Market Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Solar Power Market Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Solar Power Market Market - Supply Chain
  4.5. Global Solar Power Market Market Forecast
     4.5.1. Solar Power Market Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Solar Power Market Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Solar Power Market Market Absolute $ Opportunity
5. Global Solar Power Market Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Solar Power Market Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Solar Power Market Demand Share Forecast, 2019-2026
6. North America Solar Power Market Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Solar Power Market Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Solar Power Market Demand Share Forecast, 2019-2026
7. Latin America Solar Power Market Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Solar Power Market Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Solar Power Market Demand Share Forecast, 2019-2026
8. Europe Solar Power Market Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Solar Power Market Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Solar Power Market Demand Share Forecast, 2019-2026
9. Asia Pacific Solar Power Market Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Solar Power Market Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Solar Power Market Demand Share Forecast, 2019-2026
10. Middle East & Africa Solar Power Market Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Solar Power Market Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Solar Power Market Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Solar Power Market Market: Market Share Analysis
  11.2. Solar Power Market Distributors and Customers
  11.3. Solar Power Market Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. AGL Energy Limited
     11.4.2. Infigen Energy Ltd.
     11.4.3. Neoen SA
     11.4.4. FirstSolar Inc.
     11.4.5. SunPower Corporation

Segments Covered in the Report

Types

  • Solar Photovoltaic (PV)
  • Concentrated Solar Power (CSP))

PV Deployments

  • Utility
  • Non-utility

Country

  • Australia

Key players

  • AGL Energy Limited
  • Infigen Energy Ltd.
  • Neoen SA
  • FirstSolar Inc.
  • SunPower Corporation

Some of the major companies include AGL Energy Limited, Infigen Energy Ltd., Neoen SA, FirstSolar Inc., and Sunpower Corporation.
Companies are engaging in partnerships, mergers, and acquisitions to expand their market share. Moreover, they’re heavily investing in R&D activities to build cost-effective solar power systems.

Australia Solar Power Market keyplayers

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