Global Solar PV Services Growth Opportunities

Global Solar PV Services Growth Opportunities

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

RELEASE DATE
09-Feb-2022
REGION
Global
Research Code: MG1E-01-00-00-00
SKU: EG02214-GL-MT_26250
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Description

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.

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 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?

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Solar PV Services Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Key Findings

Segmentation by Contract Type

Segmentation by End-user Type

Solar PV Maintenance Service Requirements

Factors Impacting Solar PV Service Strategy

Solar PV Service Business Models

Solar PV Service Business Models (continued)

Types of Maintenance Services

Pricing Considerations

Contractual Inclusions (Additional Services)

Sample Service Offerings of a PV Service Provider and Maintenance Requirements of Clients

Share of Cost Components—O&M

Key Maintenance Services (in addition to repairs)

Impact of Dust Accumulation on Panel Yield and Array Cleaning

Strategic Considerations in Choosing Cleaning Technologies

Cleaning Technologies and Key Considerations

Types of Cleaning Solutions Available

Strategic Attractiveness of Various Cleaning Technologies

Wires/Cables Management

Inverter Management

Spare Parts/Warranty Management

Monitoring and Data Analytics

Contractual Guarantees

Status of Maintenance Reporting Requirements

Performance Guarantees

Strategic Partnerships/Expansion Considerations

Maintenance Best Practices Checklist, Europe, India, and US

Bids Prequalification Checklist

Trend 1—Falling O&M prices

Trend 2—Consolidation of portfolios

Trend 3—Retrofit Coatings for PV Modules

Trend 4—Innovative Monitoring and Maintenance

Trend 5—Digital Solar PV Services

Trends 6—Drones/Robotics

Trend 7—Digital Twin Technology

Growth Drivers

Growth Restraints

Forecast Assumptions

Key Growth Metrics

Solar PV Annual Capacity Addition Forecast by Region

Solar PV Cumulative Installed Capacity Forecast by Region

Solar PV Revenue Forecast by End-user Type

Solar PV Revenue Forecast by Region

Solar PV Service Revenue Forecast by End-user Type

Solar PV Service Revenue Forecast by Region

Solar PV Revenue Forecast by Contract Type

Revenue Forecast Analysis, Solar PV Services

Competitive Environment, Solar PV Services Market

Revenue Share, Solar PV Services

Strategic Imperatives for Success and Growth—New Entrant/Expansion Plans

Key Growth Metrics for North America

Solar PV Cumulative Installed Capacity Forecast by Country, North America

Solar PV Service Revenue Forecast by End-user Type, North America

PV Solar Service Revenue Forecast by Country, North America

PV Solar Service Revenue Forecast by Contract Type, North America

Revenue Forecast Analysis, North America

Key Growth Metrics for Europe

Solar PV Cumulative Installed Capacity Forecast by Key Countries, Europe

PV Solar Service Revenue Forecast by End-user Type, Europe

PV Solar Service Revenue Forecast by Key Countries, Europe

PV Solar Service Revenue Forecast by Contract Type, Europe

Revenue Forecast Analysis, Europe

Key Growth Metrics for LATAM

Solar PV Cumulative Installed Capacity Forecast by Key Countries, LATAM

PV Solar Service Revenue Forecast by End-user Type, LATAM

PV Solar Service Revenue Forecast by Key Countries, LATAM

PV Solar Service Revenue Forecast by Contract Type, LATAM

Revenue Forecast Analysis, LATAM

Key Growth Metrics for APAC

Solar PV Cumulative Installed Capacity Forecast by Key Countries, APAC

PV Solar Service Revenue Forecast by End-user Type, APAC

PV Solar Service Revenue Forecast by Key Countries, APAC

PV Solar Service Revenue Forecast by Contract Type, APAC

Revenue Forecast Analysis, APAC

Key Growth Metrics for Middle East

Solar PV Cumulative Installed Capacity Forecast by Key Countries, Middle East

PV Solar Service Revenue Forecast by End-user Type, Middle East

PV Solar Service Revenue Forecast by Key Countries, Middle East

PV Solar Service Revenue Forecast by Contract Type, Middle East

Revenue Forecast Analysis, Middle East

Key Growth Metrics for Africa

Solar PV Cumulative Installed Capacity Forecast by Key Countries, Africa

PV Solar Service Revenue Forecast by End-user Type, Africa

PV Solar Service Revenue Forecast by Key Countries, Africa

PV Solar Service Revenue Forecast by Contract Type, Africa

Revenue Forecast Analysis, Africa

Growth Opportunity 1—Specialist Services for FPV/APV

Growth Opportunity 1—Specialist Services for FPV/APV (continued)

Growth Opportunity 2—Specialist Services for BAPV/BIPV

Growth Opportunity 2—Specialist Services for BAPV/BIPV (continued)

Growth Opportunity 3—Digital Solar PV Services

Growth Opportunity 3—Digital Solar PV Services (continued)

Growth Opportunity 4—Strategic Partnerships for Circular Economy

Growth Opportunity 4—Strategic Partnerships for Circular Economy (continued)

Growth Opportunity 5—Solar-as-a-service for Higher PV Uptake

Growth Opportunity 5—Solar-as-a-service for Higher PV Uptake (continued)

List of O&M Service Providers

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

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. 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 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.--BEGIN PROMO--

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
More Information
Author Saraswathi Venkatesan
GPS Codes 9AFE-A4,9B00-A4,9851,GETE
Industries Energy
No Index No
Is Prebook No
Keyword 1 Solar Photovoltaic [PV] Market
Keyword 2 PV cells
Keyword 3 solar PV market
Podcast No
WIP Number MG1E-01-00-00-00