Global Fixed Tilt Solar PV Market: Overview
Fixed tilt type solar PV systems are characterized by tilting the system by a definite angle to facilitate the optimal capture of solar power. Over the past few years, this type of solar PV system found substantial implementation in utility-scale PV in developed and developing countries. Most of them installed in the U.S. were at an angle ranging from 20 to 30 degrees. The evolution of the global fixed tilt solar PV market has gained substantial impetus from the rising application of solar PV systems in the production of renewable energy in various countries across the globe.
Relentless efforts to improve the efficiency and performance of solar PV systems bode well for the global fixed tilt type solar PV market. Large-scale deployment of solar power plants in various parts of the globe will define the contours of the market during 2018–2028.
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Global Fixed Tilt Solar PV Market: Notable Developments
Renewable energy investors are spending sizably on new solar PV projects and bolstering production in large projects in developed countries. Several of these developments have taken place in Massachusetts. Numerous such projects are characterized by ground-mounted fixed-tilt solar PV.
Numerous developing regions have been lately witnessing promising prospects in the global fixed tilt solar PV market. Utility companies have started making efforts in updating solar PV projects, taking it to ‘Ready-to-Build’ stage. Etrion Corporation, a Swiss-headquartered utility company, has recently announced update on its Niigata solar project in Japan. The fixed-tilt solar PV power project is expected to start operations by 2021 subject to 3-year development. The solar independent power producer announced recently (April 2019) that it is in the process of completing its civil engineering works, along with all engineering, procurement, and construction contracts. The news bodes well for bringing new avenues in the global fixed tilt solar PV market.
The 45 MW project is likely to start construction in July, 2019. With the necessary permits in place, the Niigata project is likely to double its capacity by 2021. This will create new revenues in the Japan, as well as open lucrative prospects in the overall fixed tilt solar PV market.
Some of the well-entrenched players in the global fixed tilt solar PV market are Canadian Solar, Inc., Sharp Solar Energy Solutions Group, Trina Solar Limited, Yingli Solar, SolarCity Corporation, and First Solar Inc.
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Global Fixed Tilt Solar PV Market: Key Growth Dynamics
The global fixed tilt solar PV market has been containing considerable momentum from the rising demand for solar energy production from PV panels. Pressing need for increasing the renewable energy in the worldwide energy mix has been a potential factor for driving the evolution of the fixed tilt solar PV market.
The fixed tilt solar PV market has gathered a big growth impetus from stringent environmental regulations on the adoption of clean energy. Decline in prices of solar PV cells in some regions over the past few years have also filliped the solar power production, which in turn is boosting the global fixed tilt solar PV market. However, in the light of constantly reducing prices of PV panels, the return on investments for PV project owners have been hampered. This has resulted in single-axis trackers gaining traction.
Nevertheless, advancements in mechanical and electrical design will bolster the performance of solar PV, thus fueling the demand for fixed tilt solar PV.
Global Fixed Tilt Solar PV Market: Regional Assessment
Geographically, Asia Pacific is likely to a potentially lucrative market for fixed tilt solar PV. A large part of the growth in the region comes from substantial production of solar energy from fixed tilt solar PV plants in several of its economies. The demand for fixed tilt solar PV in the region will also be catalyzed by rising awareness about clean energy technologies. In particular, China has risen to prominence in the global fixed tilt solar PV market on account of massive production of PV panels. India is also expected to play a major role in the growth dynamics of the fixed tilt solar PV market.
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