Solar PV Services Growth Opportunities

Advanced Service Offerings and Upcoming Projects are Set to Fuel a Strong Growth Pipeline

Climate change has spurred a flurry of investments in renewable sources and decarbonization efforts. Following the COP21, Paris (2016) which proposed renewable source targets to be achieved by 2030, more than 100 countries pledged to cut methane emissions by 30.0% from 2020 levels at the recent COP26; this is likely to have a direct impact on the energy sector, primarily O&G, the main source of methane emissions, further boosting transition to other renewable sources like solar PV.

Unlike wind power which requires significant investment and land, solar PV offers several advantages: low investment, low maintenance, an abundant source of power all through the year, and ease of accessibility.

The advancement of storage technologies has further strengthened the case for PV, as production variability has been a major source of concern in the past. Besides, consistent maintenance services are required to increase PV yield and to improve the efficiency of PV equipment. This study traces the growth of the PV services market, in terms of best practices in the industry and key elements required for the success of PV service providers.

Growth opportunities that market players can profit from, besides leading the transformation of the industry, are identified.

Research Scope

This research service touches upon the various drivers of the global solar PV market, trends that are shaping the market, and the challenges that the stakeholders face. In addition to the current installed capacity of solar PV, the types of service contracts that industry participants enter into, and the revenues estimated from each contract type are presented both globally and regionally.

Key Issues Addressed

• What is the current status of the global solar PV service market?
• What are the key drivers and restraints affecting the market? What are the competitive factors in this market?
• Is the market growing; how long will it continue to grow and at what rate?
• What are the best practices expected from O&M service providers in the global solar PV service market?
• Which are the key growth regions for solar PV? Which countries are suitable for investments in these regions?
• How is the competitive environment? Who are the key market participants? What are their innovative business models or solutions?
• How are revenues expected to change over the next few years?
• What are the avenues available for strategic investments in the global solar PV market? How best can key stakeholders benefit from them?