PUBLISHER: The Business Research Company | PRODUCT CODE: 1695231
PUBLISHER: The Business Research Company | PRODUCT CODE: 1695231
The utility solar photovoltaic (PV) engineering, procurement, and construction (EPC) refers to the process of designing, procuring materials, and constructing large-scale solar photovoltaic (PV) power plants that are intended to supply electricity to the utility grid. This encompasses the end-to-end process of bringing large-scale solar PV projects from concept to completion, ensuring that they are engineered, procured, and constructed in a cost-effective and efficient manner to generate electricity for utility-scale applications.
The main types of utility solar PV EPC are ground-mounted rooftops. Ground-mounted refers to the installation of solar panels on the ground, typically in open spaces or fields, as opposed to being installed on rooftops. The various storage includes storage, without storage that is used by various end users such as residential, commercial, and utility users.
The main types of utility solar PV EPC are ground-mounted rooftops. Ground-mounted refers to the installation of solar panels on the ground, typically in open spaces or fields, as opposed to being installed on rooftops. The various storage includes storage, without storage that is used by various end users such as residential, commercial, and utility users.
The utility solar pv epc market size has grown rapidly in recent years. It will grow from $61.94 billion in 2024 to $68.89 billion in 2025 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to government policies and incentives, economic viability, renewable energy targets, public and environmental support, grid stability and reliability, global energy transition.
The utility solar pv epc market size is expected to see strong growth in the next few years. It will grow to $98.86 billion in 2029 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to advancements in project financing, Integration with energy storage, competitive procurement processes, corporate power purchase agreements (PPAs), global energy demand dynamics, climate change mitigation goals. Major trends in the forecast period include energy storage integration, hybrid solar projects, digital twin technology, grid-forming inverters, floating solar farms, decentralized solar power plants, bidirectional inverters for grid services, community solar initiatives, advanced weather forecasting for solar farms.
The growing demand for electricity and the need for dependable power generation are anticipated to drive the expansion of the utility solar PV EPC market in the future. Electricity is a type of energy produced by the movement of charged particles, usually electrons, through a conductor. As efforts to reduce carbon emissions and tackle climate change intensify, the demand for utility-scale solar photovoltaic (PV) projects is rising. These projects offer a significant and scalable clean energy source, supporting the rapid adoption of solar power and aiding the transition to more sustainable, renewable energy solutions. For example, in September 2024, GOV.UK, a government agency in the UK, reported that renewable energy generation in 2023 remained almost equal to that of 2022, reaching a new peak of 135.8 TWh, a 0.3 percent increase over the previous year. Wind generation saw a 2.2 percent rise, reaching a record 82.3 TWh, while solar generation grew by 4.1 percent, hitting a new high of 13.9 TWh. As a result, the increasing demand for electricity and the need for reliable power generation are fueling the growth of the utility solar PV EPC market.
Major companies operating in the utility solar PV EPC market are experiencing significant growth due to advancements in energy storage technologies. Advancements in energy storage technologies in the utility solar PV EPC enable the development of battery energy storage systems (BESS) that enable round-the-clock power supply, promoting the integration of solar energy into the grid. Energy storage enhances grid reliability and mitigating intermittency issues associated with solar power. For instance, In December 2023, Canadian Solar's e-STORAGE, a Canada-based leading manufacturer of solar modules launched SolBank 3.0, a utility-scale energy storage system with significant improvements. Housed in a 20-ft container, SolBank 3.0 integrates high energy density cells, advanced safety systems, smart liquid cooling, and active balance system controls. It offers a power of up to 2.35 MW and a capacity of 5 MWh, boasting a remarkable up to 45% increase in product-level capacity and up to 40% decrease in the balance of system costs.
In November 2023, Madison Energy Infrastructure (MEI), a US-based clean energy developer, acquired Pro-Tech Energy Solutions for an undisclosed amount. The acquisition is aimed at strengthening MEI's execution capabilities and delivering new projects and solutions for commercial and industrial customers. Pro-Tech based in Moorestown, New Jersey, has built hundreds of distributed solar projects and has a robust pipeline of projects, which will enhance MEI's ability to deliver high-impact clean energy solutions. Pro-Tech Energy Solutions is a US-based renewable energy company that offers utility solar PV EPC.
Major companies operating in the utility solar PV EPC market are Power Construction Corporation of China, Larsen & Toubro Limited, Trina Solar Co.Ltd., Canadian Solar Inc., Sungrow Power Supply Co. Ltd., Swinerton Renewable Energy Inc., Risen Energy Co. Ltd., Bharat Heavy Electricals Limited, First Solar Inc., SunPower Corporation, JUWI AG, Tata Power Solar Systems Limited, Sterling and Wilson Private Limited, ACME Solar Holdings Limited, TBEA Co. Ltd., Q Cells Co. Ltd., BElectric, STEAG GmbH, Topsun Energy (Hong Kong) Co. Ltd., ALSA Solar Systems LLC, Eiffage SA, Enerparc AG, Ritis Meera Infra Energy Private Limited, Enerparc AG, Ritis Meera Infra Energy
Asia-Pacific was the largest region in the utility solar PV EPC market in 2024. The regions covered in the utility solar PV EPC market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the utility solar PV EPC market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The utility solar PV EPC market includes revenues earned by entities by providing operation and maintenance, project management, and grid-interconnection services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Utility Solar PV EPC Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on utility solar pv epc market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for utility solar pv epc ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The utility solar pv epc market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.