Utility Solar PV EPC Market Size & Share | Forecast Report 2025-2034

The
Global Utility
Solar PV EPC Market, valued at USD 84.7 billion in 2024, is expected to
grow at a CAGR of 5.4% from 2024 to 2034. Utility Solar PV EPC services are
critical for large-scale solar photovoltaic (PV) power plants that supply
electricity to the grid, typically ranging from tens to hundreds of megawatts.
The market's growth is fueled by the adoption of innovative financing methods,
including tax equity financing and green bonds, which have supported the
expansion of utility-scale solar projects.

Over
the past decade, there has been a significant reduction in the costs of solar
modules and EPC services, which continue to decline as economies of scale
improve, driving down overall costs and increasing market competition.
Additionally, the integration of battery energy storage systems (BESS) with
utility-scale solar projects is becoming more common. This pairing helps
mitigate the intermittent nature of solar power and ensures grid stability,
making solar power a more reliable source of energy. Furthermore, the rising
interest in community solar projects, particularly in areas with limited
rooftop solar adoption, is contributing to the demand for utility solar EPC
services.

Request
for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/5073
   

The
market is expected to see a substantial demand in the >200 MW capacity
segment, projected to surpass USD 67 billion by 2034. As companies worldwide
work to increase their renewable energy share, utility-scale solar PV projects
are becoming more competitive due to the growing availability of resources,
increased capacity potential, and more affordable technologies. The U.S. market
for utility solar PV EPC services is forecasted to exceed USD 5.2 billion by
2034, driven by continued technological innovations, government support, and a
growing commitment to renewable energy. Key policies such as tax credits for
solar projects, including the ITC offering a 30% tax credit, further enhance
the market's growth. In the U.S., states like California, Texas, and New York
have renewable energy mandates that require utilities to obtain a percentage of
their energy from renewable sources, further boosting demand. Advancements in
solar panel efficiency, such as bifacial and heterojunction solar cells, are
driving the industry forward by increasing energy yield and lowering the Levelized
Cost of Energy (LCOE) for solar projects.

Browse
report summary @ https://www.gminsights.com/industry-analysis/utility-solar-pv-epc-market

The
Asia Pacific region will see continued growth in the utility solar PV EPC
market, supported by government initiatives like feed-in tariff schemes and
renewable energy auctions. In countries like Australia, the rising cost of
electricity, combined with the decreasing costs of renewable technologies, is
encouraging the deployment of large-scale solar PV projects. Additionally,
governments in the region are focusing on enhancing solar PV capacity through
the integration of software and digital technologies, further boosting the
adoption of solar energy solutions.

About Global
Market Insights Inc.

Global Market Insights Inc.,
headquartered in Delaware, U.S., is a global market research and consulting
service provider, offering syndicated and custom research reports along with
growth consulting services. Our business intelligence and industry research
reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research methodology and are
available for key industries such as chemicals, advanced materials, technology,
renewable energy, and biotechnology.

Contact Us:

Aashit Tiwari

Corporate Sales, USA

Global Market Insights Inc.

Toll Free: 1-888-689-0688

USA: +1-302-846-7766

Europe: +44-742-750-8484

APAC: +65-3129-7718

Email: sales@gminsights.com