Solar EPC Market Size

Solar EPC Market size is poised to reach USD 46 Billion by the end of 2035, growing at a CAGR of 18% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of solar EPC was USD 20 Billion. Many countries and regions have set ambitious renewable energy targets as part of their efforts to reduce carbon emissions and combat climate change. Governments may provide incentives, subsidies, or favorable regulatory frameworks to promote the adoption of solar energy. For instance, in the United States, the federal government offers a 26% Investment Tax Credit (ITC) for solar installations, which has helped to spur growth in the industry.

Solar energy has become more dependable and effective due to advancements in technology including enhancements in solar panels, energy storage options and the integration of smart grid systems. These improvements have led to increased acceptance of energy systems and as a result an increased need, for Solar EPC services.