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.
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. Electricity is a type of energy produced by the movement of charged particles, usually electrons, through a conductor. As efforts to reduce carbon emissions and tackle climate change intensify, the demand for utility-scale solar photovoltaic (PV) projects is rising. These projects offer a significant and scalable clean energy source, supporting the rapid adoption of solar power and aiding the transition to more sustainable, renewable energy solutions. For example, in September 2024, GOV.UK, 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. Advancements in energy storage technologies in the utility solar PV EPC enable the development of battery energy storage systems (BESS) that enable round-the-clock power supply, promoting the integration of solar energy into the grid. Energy storage enhances grid reliability and mitigating intermittency issues associated with solar power. 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.
Major companies operating in the utility solar PV EPC market are 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.
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.
The utility solar PV EPC market includes revenues earned by entities by providing operation and maintenance, project management, and grid-interconnection services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The utility solar photovoltaic (PV) engineering, procurement, and construction (EPC) refers to the process of designing, procuring materials, and constructing large-scale solar photovoltaic (PV) power plants that are intended to supply electricity to the utility grid. This encompasses the end-to-end process of bringing large-scale solar PV projects from concept to completion, ensuring that they are engineered, procured, and constructed in a cost-effective and efficient manner to generate electricity for utility-scale applications.
The main types of utility solar PV EPC are ground-mounted rooftops. Ground-mounted refers to the installation of solar panels on the ground, typically in open spaces or fields, as opposed to being installed on rooftops. The various storage includes storage, without storage that is used by various end users such as residential, commercial, and utility users.
The main types of utility solar PV EPC are ground-mounted rooftops. Ground-mounted refers to the installation of solar panels on the ground, typically in open spaces or fields, as opposed to being installed on rooftops. The various storage includes storage, without storage that is used by various end users such as residential, commercial, and utility users.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
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. Electricity is a type of energy produced by the movement of charged particles, usually electrons, through a conductor. As efforts to reduce carbon emissions and tackle climate change intensify, the demand for utility-scale solar photovoltaic (PV) projects is rising. These projects offer a significant and scalable clean energy source, supporting the rapid adoption of solar power and aiding the transition to more sustainable, renewable energy solutions. For example, in September 2024, GOV.UK, 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. Advancements in energy storage technologies in the utility solar PV EPC enable the development of battery energy storage systems (BESS) that enable round-the-clock power supply, promoting the integration of solar energy into the grid. Energy storage enhances grid reliability and mitigating intermittency issues associated with solar power. 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.
Major companies operating in the utility solar PV EPC market are 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.
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.
The utility solar PV EPC market includes revenues earned by entities by providing operation and maintenance, project management, and grid-interconnection services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The utility solar photovoltaic (PV) engineering, procurement, and construction (EPC) refers to the process of designing, procuring materials, and constructing large-scale solar photovoltaic (PV) power plants that are intended to supply electricity to the utility grid. This encompasses the end-to-end process of bringing large-scale solar PV projects from concept to completion, ensuring that they are engineered, procured, and constructed in a cost-effective and efficient manner to generate electricity for utility-scale applications.
The main types of utility solar PV EPC are ground-mounted rooftops. Ground-mounted refers to the installation of solar panels on the ground, typically in open spaces or fields, as opposed to being installed on rooftops. The various storage includes storage, without storage that is used by various end users such as residential, commercial, and utility users.
The main types of utility solar PV EPC are ground-mounted rooftops. Ground-mounted refers to the installation of solar panels on the ground, typically in open spaces or fields, as opposed to being installed on rooftops. The various storage includes storage, without storage that is used by various end users such as residential, commercial, and utility users.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Utility Solar PV EPC Market Characteristics3. Utility Solar PV EPC Market Trends and Strategies4. Utility Solar PV EPC Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, Covid and Recovery on the Market32. Global Utility Solar PV EPC Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Utility Solar PV EPC Market34. Recent Developments in the Utility Solar PV EPC Market
5. Global Utility Solar PV EPC Growth Analysis and Strategic Analysis Framework
6. Utility Solar PV EPC Market Segmentation
7. Utility Solar PV EPC Market Regional and Country Analysis
8. Asia-Pacific Utility Solar PV EPC Market
9. China Utility Solar PV EPC Market
10. India Utility Solar PV EPC Market
11. Japan Utility Solar PV EPC Market
12. Australia Utility Solar PV EPC Market
13. Indonesia Utility Solar PV EPC Market
14. South Korea Utility Solar PV EPC Market
15. Western Europe Utility Solar PV EPC Market
16. UK Utility Solar PV EPC Market
17. Germany Utility Solar PV EPC Market
18. France Utility Solar PV EPC Market
19. Italy Utility Solar PV EPC Market
20. Spain Utility Solar PV EPC Market
21. Eastern Europe Utility Solar PV EPC Market
22. Russia Utility Solar PV EPC Market
23. North America Utility Solar PV EPC Market
24. USA Utility Solar PV EPC Market
25. Canada Utility Solar PV EPC Market
26. South America Utility Solar PV EPC Market
27. Brazil Utility Solar PV EPC Market
28. Middle East Utility Solar PV EPC Market
29. Africa Utility Solar PV EPC Market
30. Utility Solar PV EPC Market Competitive Landscape and Company Profiles
31. Utility Solar PV EPC Market Other Major and Innovative Companies
35. Utility Solar PV EPC Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Utility Solar PV EPC Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on utility solar pv epc market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for utility solar pv epc? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The utility solar pv epc market global report answers all these questions and many more.The 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.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Ground-Mounted; Rooftop2) 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 Systems2) By Rooftop: Residential Rooftop Systems; Commercial Rooftop Systems; Industrial Rooftop Systems
Key Companies Mentioned: Power Construction Corporation of China; Larsen & Toubro Limited; Trina Solar Co.Ltd.; Canadian Solar Inc.; Sungrow Power Supply Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
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.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
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
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | March 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 68.89 Billion |
Forecasted Market Value ( USD | $ 98.86 Billion |
Compound Annual Growth Rate | 9.5% |
Regions Covered | Global |
No. of Companies Mentioned | 26 |