The Iran solar energy market size is anticipated to register a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to factors such as vast desert area and required weather conditions, which makes it preferable to install solar systems.
Solar energy is heat and radiant light from the sun that is utilized for a range of technologies such as molten salt power plants, satellite-based solar power plants, solar heating & cooling (SHC) systems, and artificial photosynthesis. Photovoltaics can generate power from sunlight through an electronic interaction, which can be utilized to control consumer electronics. Solar heating & cooling (SHC) applications includes running a customary power producing turbines.
Solar energy is an important source of clean energy, and its technology is classified broadly as active solar or passive solar, depending on how it is captured and distributed. Active solar technology includes the utilization of photovoltaic systems, solar water heating, and concentrated solar power to leverage the power. Passive solar technology consists of selecting material with light-dispersing properties, orienting an area in the direction of sun, and designing spaces that automatically circulate air.
Market Trends, Drivers, Restraints, and Opportunities
- Rapid increase of renewable projects laid by the government is expected to drive the market growth in the country.
- Growing interest of policymakers for clean energy sources and to reduce dependency on hydrocarbons, improving energy security, and to meet electricity demand are estimated to spur the market growth during the forecast period.
- Unstable political environment in the country can impede the growth of the market.
- The COVID-19 pandemic had disrupted the supply chain across the globe. This, in turn, has hampered the growth of the market. However, the relaxation in restrictions on running on manufacturing facilities and opening of international trades are expected to help the market recover soon.
- Iran’s topographical advantage for solar energy is anticipated to stimulate the market expansion.
- Increasing adoption of other renewable energies such as hydro-thermal and wind is expected to create challenges for the market growth in the projected timeline.
- Technological advancements can create lucrative opportunities for market players during the forecast period.
Scope of the Report
The report on the Iran solar energy market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Iran solar energy market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Solar Thermal and Solar Photovoltaic (PV))
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Geographical Zone
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Iran
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Yekta Behan; JinkoSolar Holding Co., Ltd; Carlo Maresca Spa; KPV Solar GmbH; and Hanau Energies
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Iran Solar Energy Market Segment Insights
Solar photovoltaic (PV) segment is projected to expand at a considerable CAGR
On the basis of types, the market is segregated into solar thermal and solar photovoltaic (PV). The solar photovoltaic segment is projected to expand at a considerable CAGR during the forecast period. The 2015 Paris agreement prompted several nations to pledge support the adoption of sustainable power, which in turn, progressed the development of the solar energy market. Draining petroleum reserves in the recent years has increased utilization of environmentally friendly power, consequently driving the interest for renewable energy generation in the country. The Government of Iran is offering feed-in-tariff to encourage private players to invest in the Iran solar energy market, by offering them long haul contracts The vast desert area in the country has increased the deployment of of solar PV systems. The government has also planned to install new renewable energy plant during the forecast period.
On the other hand, the solar thermal segment is anticipated to account for a major market share during the forecast period. In January 2020, two solar oriented power plants in Damavand and Rey areas of Tehran Province were established. The former city plant has a 8.4 MW photovoltaic (PV) power station, while a 12.7 megawatt renewable energy plant was inaugurated in Shahr-e-Rey City. The two sun powered plants are expected to produce more than 34 gigawatt-hour (GWh) annually.
Segments
Segments Covered in the Report
The Iran solar energy market has been segmented on the basis of
Types
- Solar Thermal
- Solar Photovoltaic (PV)
Country
Key Players
- Yekta Behan
- JinkoSolar Holding Co., Ltd
- Carlo Maresca Spa
- KPV Solar GmbH
- Hanau Energies
Competitive Landscape
Key players competing in the Iran solar energy market are Yekta Behan, JinkoSolar Holding Co., Ltd, Carlo Maresca Spa, KPV Solar GmbH, Hanau Energies.
Some of these players are adopting several business strategies, which includes acquisitions, mergers, collaborations, partnerships, and capacity expansion to enhance their market share.
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