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Global Solar Farm Market Is Projected To Reach $261 Billion By 2027

PR Newswire - Mon Jun 13, 2022

PALM BEACH, Fla., June 13, 2022 /PRNewswire/ -- News Commentary - Solar farms are areas where numerous solar panels are installed to collect solar energy & generate electricity. These are different from rooftop solar systems & commercial solar powers systems and consist of decentralized ground-mounted panels extensively installed across the land to provide power across houses, businesses, and electric grids. Over the last few years, the solar water farm market has been developing at a considerable pace attributable to low cost of PV panels and strong presence of solar water farm producers. Furthermore, awareness toward solar water farming is increasing among consumers, due to implementation of government regulations to promote production of energy from renewable sources to reduce dependency on fossil fuels and to minimize the emission of pollutants. According to the U.S. Solar Energy Industries Association (SEIA), the government has implemented laws such as net metering and community solar to promote the use of photovoltaic technology to generate electricity. According to MarkNtel Advisors, the Global Solar Farm Market is projected to grow at a CAGR of around 18.50% during 2022-27. The market growth principally attributes to the low cost of PV (Photovoltaic) panels entwined with the availability of numerous solar farm producers investing substantially in the market to generate eco-friendlier energy and cause less pollution than generated by fossil fuels. Another report from Allied Market Research projected that the Global solar farm market is projected to reach $261.0 billion by 2027, registering a CAGR of 19.8% from 2020 to 2027.  Active Solar Companies in the markets today include VivoPower International PLC (NASDAQ: VVPR), First Solar, Inc. (NASDAQ: FSLR), Enphase Energy, Inc. (NASDAQ: ENPH), Sunrun (NASDAQ: RUN), SunPower Corp. (NASDAQ: SPWR).


Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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