Growth Trends In The Utility Solar PV EPC Market, 2025-2029 & 2034 - Advancements In Energy Storage Technologies Driving Significant Growth

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 25, 2025 (GLOBE NEWSWIRE) -- The "Utility Solar PV EPC Market Report 2025" has been added to ResearchAndMarkets.com's offering.
This 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.

Key Companies Profiled: Power Construction Corporation of China; Larsen & Toubro Limited; Trina Solar Co. Ltd.; Canadian Solar Inc.; Sungrow Power Supply Co. Ltd.
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. For example, in September 2024, 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. 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 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.
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.
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Report Scope

Markets Covered:
1) By Type: Ground-Mounted; Rooftop
2) By Storage: With Storage; Without Storage
3) By End User: Residential; Commercial; Utility uses
Subsegments:
1) By Ground-Mounted: Fixed Tilt Ground-Mounted Systems; Single Axis Tracking Systems; Dual Axis Tracking Systems
2) By Rooftop: Residential Rooftop Systems; Commercial Rooftop Systems; Industrial Rooftop Systems
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes

Report Attribute	Details
No. of Pages	200
Forecast Period	2025-2029
Estimated Market Value (USD) in 2025	$68.89 Billion
Forecasted Market Value (USD) by 2029	$98.86 Billion
Compound Annual Growth Rate	9.5%
Regions Covered	Global

Some of the major companies featured in this Utility Solar PV EPC market report include:

• 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

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