Italy Solar Energy Market Size (2024 - 2029)

The market size of the solar energy sector in Italy is anticipated to experience significant growth over the forecast period, driven by supportive government policies and decreasing costs of solar PV installations. However, the expansion of this market may face challenges due to the increasing use of alternative renewable energy sources like wind, as well as limitations in grid infrastructure and storage systems. Despite these challenges, offshore areas present promising opportunities for market development.

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Market Size of Italy Solar Energy Industry

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Italy Solar Energy Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 11.22 %
Market Concentration Low

Major Players

Italy Solar Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Italy Solar Energy Market Analysis

The Italy Solar Energy Market size in terms of installed base is expected to grow from 34.64 gigawatt in 2024 to 58.96 gigawatt by 2029, at a CAGR of 11.22% during the forecast period (2024-2029).

  • Over the medium period, supportive government policies to promote renewable power generation and the declining cost of Solar PV installations are expected to be some of the driving factors for the solar energy market in Italy during the forecast period.
  • On the other hand, the increasing adoption of alternate renewable sources such as wind and limited grid infrastructure and storage systems are expected to hinder the market growth during the forecast period.
  • Nevertheless, offshore areas for solar installation are expected to provide ample opportunities for market players in the future.

Italy Solar Energy Industry Segmentation

Solar energy is radiant light and heat from the sun that is harnessed using a range of technologies such as solar PV or concentrated solar power (CSP) to generate electricity, solar thermal energy, and solar architecture.

The Italian solar energy market is segmented by type, end-user, and deployment. By type, the market is segmented into solar photovoltaic (PV) and concentrated solar power (CSP); by end-user, the market is segmented into residential, industrial and commercial, and utility-scale; and by deployment, the market is segmented into rooftop and ground-mounted.

For each segment, the market sizing and forecasts have been done based on installed capacity.

Type
Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
End-user
Residential
Industrial and Commercial
Utility-Scale
Deployment
Rooftop
Ground-mounted
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Italy Solar Energy Market Size Summary

The solar energy market in Italy is poised for substantial growth over the forecast period, driven by supportive government policies and decreasing costs of solar photovoltaic (PV) installations. The Italian government has implemented various initiatives to promote renewable energy, including tax incentives and simplified permit processes for solar PV systems. These measures are part of Italy's broader strategy to reduce reliance on fossil fuels and increase the share of renewables in its energy mix, aligning with European Union targets. The country's commitment to expanding its solar capacity is evident in its ambitious plans to significantly increase installed solar PV capacity by 2030, positioning Italy as a leading player in the global solar energy sector.

Despite challenges such as competition from other renewable sources like wind and limitations in grid infrastructure, Italy's solar energy market is expected to thrive. The on-grid solar PV market is anticipated to benefit from government provisions aimed at reducing energy costs for households and businesses, as well as mandates from the European Commission for rooftop solar installations. Additionally, opportunities for offshore solar installations are expected to emerge, further bolstering market growth. The presence of major companies and new manufacturing facilities for solar modules in Italy underscores the country's strategic focus on enhancing its solar energy capabilities, ensuring a robust expansion of the solar market in the coming years.

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Italy Solar Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Recent Trends and Developments

    2. 1.2 Government Policies and Regulations

    3. 1.3 Market Dynamics

      1. 1.3.1 Drivers

        1. 1.3.1.1 Declining Cost of Solar PV Installations

        2. 1.3.1.2 Supportive Government Policies For Renewable Energy

      2. 1.3.2 Restraints

        1. 1.3.2.1 Penetration of Other Energy Sources

    4. 1.4 Supply Chain Analysis

    5. 1.5 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Solar Photovoltaic (PV)

      2. 2.1.2 Concentrated Solar Power (CSP)

    2. 2.2 End-user

      1. 2.2.1 Residential

      2. 2.2.2 Industrial and Commercial

      3. 2.2.3 Utility-Scale

    3. 2.3 Deployment

      1. 2.3.1 Rooftop

      2. 2.3.2 Ground-mounted

Italy Solar Energy Market Size FAQs

The Italy Solar Energy Market size is expected to reach 34.64 gigawatt in 2024 and grow at a CAGR of 11.22% to reach 58.96 gigawatt by 2029.

In 2024, the Italy Solar Energy Market size is expected to reach 34.64 gigawatt.

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