Fixed Tilt Solar PV: Introduction
- Electricity generated by fixed tilt solar PV depends on installation of PV panels relative to the sun. PV cells accumulate solar radiation more effectively when the sun’s rays are in perpendicular direction to the panel.
- Fixed tilt solar PV system determines the orientation of panels relative to the sun for enhanced energy harvesting purpose. Latitude is the vital factor that determines the tilt of the panel. At lower latitudes, the sun is at higher position in the sky and solar panels do not require much tilt to gain direct sunlight. At higher latitudes, the sun is at lower position in the sky. As a result, solar panels are generally installed at greater tilt angles to retain direct sunlight. Thus, fixed tilt solar PV is the easiest and least expensive solar panel mount.
Key Drivers and Restraints of Fixed Tilt Solar PV Market
- Unprecedented pace of growth has been witnessed in the renewable sources of energy industry over the last few years. With various government initiatives and commitments of private companies, the renewable form of energy has become a feasible option for human civilization. The world is on the verge of accepting clean and green energy at a never-seen-before scale. It is costlier to run a coal or natural gas plant than running a wind or solar plant. According to the International Energy Agency (IEA), solar energy was the most contributing source of energy to the pie of renewable energy sources in 2020. Thus, the fixed tilt solar PV market is expected to expand at a faster pace in the near future.
- According to the International Energy Agency, total energy consumption in the commercial sector stood at 4, 12,627 Ktoe in 2018 and is anticipated to rise during the forecast period. Increase in awareness about electricity generation with the help of renewable energy sources is anticipated to boost the fixed tilt solar PV market during the forecast period.
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COVID-19 Impact Analysis on Supply Chain
- Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. According to the International Energy Agency (IEA), every month of lockdown reduced demand for electricity by 20% on an average on monthly basis or over 1.5% on an annual basis. Thus, decline in demand for electricity is hampering the fixed tilt solar PV market.
Fixed Tilt Solar PV Market Segmentation
- The global fixed tilt solar PV market can be segmented based on technology, application, and end-use
- In terms of technology, the global fixed tilt solar PV market can be divided into crystalline silicon, thin film, and others
- In terms of application, the global fixed tilt solar PV market can be segregated into on-grid and off-grid
- In terms of end-use, the global fixed tilt solar PV market can be classified into residential, commercial, and utility
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Fixed Tilt Solar PV Market: Regional Segmentation
- In terms of region, the global fixed tilt solar PV market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- Asia Pacific is anticipated to dominate the global fixed tilt solar PV market during the forecast period. Commissioning of many grid-scale solar farms across the region, particularly in India and China, has contributed toward the unprecedented growth of the PV inverters market. Various purchase initiatives and subsidies by the government have also played a crucial role in driving the market in in Asia Pacific.
- Solar power accounts for high share of the energy mix in Europe. In 2017, 3.6% of total electricity generated in Europe was with the help of solar power. According to BloombergNEF, this contribution is anticipated to rise up to 20% in 2040. Thus, increase in electricity generation with the help of solar power in Europe is projected to fuel the fixed tilt solar PV market in the region during the forecast period.
Key Players Operating in Global Market
- Solar FlexRack
- Trina Solar
- Alion Energy, Inc.
- Arctech Solar Holding Co
- Canadian Solar
- First Solar
- SolarCity
- STI Norland
- UNIRAC Inc.
- SHARP CORPORATION
- Jinko Solar
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Global Fixed Tilt Solar PV Market: Research Scope
Global Fixed Tilt Solar PV Market, by Technology
- Crystalline Silicon
- Thin Film
- Others
Global Fixed Tilt Solar PV Market, by Application
- On-grid
- Off-grid
Global Fixed Tilt Solar PV Market, by End-use
- Residential
- Commercial
- Utility
Global Fixed Tilt Solar PV Market, by Region
- North America
- S.
- Canada
- Europe
- Germany
- France
- K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Companies in the Fixed Tilt Solar PV market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.
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