Solar Power

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This latest Solar Power Equipment report published by Global Market Monitor covers the current market dynamics, and provides effective competition strategies and market guidelines for the majority of practitioners.

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Prime Competitors
The leading companies in the Solar Power Equipment market cover
ABB Group
Canadian Solar
Trina Solar
LONGi Solar
JinkoSolar
First Solar Inc.
JA Solar
Shunfeng International
SunPower Corporation
Hanwha Q CELLS

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Segmentation on the Basis of Application:
Residential
Nonresidential
Utility

By Type:
Solar Panels
Mounting, Racking and Tracking System
Storage System
Others

Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Solar Power Equipment Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Solar Power Equipment Market by Types
4 Segmentation of Solar Power Equipment Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Solar Power Equipment Market in Major Countries
7 North America Solar Power Equipment Landscape Analysis
8 Europe Solar Power Equipment Landscape Analysis
9 Asia Pacific Solar Power Equipment Landscape Analysis
10 Latin America, Middle East & Africa Solar Power Equipment Landscape Analysis
11 Major Players Profile
…

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Key Regions Overview
The report covers the major countries analysis in North America, Europe, Asia Pacific, and the rest of the world. Furthermore, policy mobilization, social dynamics, development trends, and economic development in these countries are also taken into consideration.

Solar Power Equipment Market Intended Audience:
– Solar Power Equipment manufacturers
– Solar Power Equipment traders, distributors, and suppliers
– Solar Power Equipment industry associations
– Product managers, Solar Power Equipment industry administrator, C-level executives of the industries
– Market Research and consulting firms

Reasons to Purchase this Report
Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
6 months analyst support along with the data in excel

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Solar hybrid inverter market is poised to grow by $ 76.44 million during 2021-2025 progressing at a CAGR of over 10%, owing to the rise in solar energy installations, supportive governmental regulations, and reduction in LCOE of solar power generation.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. Furthermore, this research analysis offers insights on impact of key factors promoting and impeding the market growth at present as well as in the forthcoming years. In addition, if interested in knowing more about the innovative strategies adopted by ABB Ltd., Delta Electronics Inc., Flin Technologies Pvt. Ltd., Growatt New Energy Technology Co. Ltd., KACO new energy, to strengthen their foothold in the market-.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report provides a forecast from 2021 till 2025 with 2020 as the base year.

Our solar hybrid inverter market research report is covering the current trends and effects on the business of COVID-19.  As the business impact of COVID-19 spreads, the utility industry will have a negative impact while the solar hybrid inverter market is expected to have negative growth. 
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For each key country, detailed analysis, and data for annual revenue ($ mn) are available for 2021-2025. The breakdown of the key national markets by product type and geography over the forecast years are also included. The market is fragmented based on end-user (commercial and residential) and geography (APAC, Europe, North America, MEA, and South America). Commercial end-users are likely to gain the largest segment share while APAC continuing to contribute the fastest growth in the solar hybrid inverter market during the forecast period.

Gain access to our detailed analysis of market numbers represented and explained in this 120-page TOC and 103 exhibits for effective decision making. 
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Technavio’s robust vendor analysis is designed to help clients improve their market position. Along with this, the report also provides a detailed analysis of several leading solar hybrid inverter market vendors and emerging players.

This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

One of the Fortune 500 companies has leveraged this Technavio report to strengthen their market share and presence in regional markets including APAC region which is expected to offer highest market growth opportunities in near future.

Explore regional market investment opportunities

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

• Five Forces Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive Scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ABB Ltd.
• Delta Electronics Inc.
• Flin Technologies Pvt. Ltd.
• Growatt New Energy Technology Co. Ltd.
• KACO new energy
• Microtek International Pvt. Ltd.
• Schneider Electric SE
• SolarEdge Technologies Inc.
• Su-Kam Power Systems Ltd.
• Tabuchi Electric Co. Ltd.

Market Segmentation by End-user

• Market segments
• Comparison by End user
• Commercial – Market size and forecast 2020-2025
• Residential – Market size and forecast 2020-2025
• Market opportunity by End user

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC – Market size and forecast 2020-2025
• Europe – Market size and forecast 2020-2025
• North America – Market size and forecast 2020-2025
• MEA – Market size and forecast 2020-2025
• South America – Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Investors looking to make money off of the global shift to solar power have many options, but some parts of the market may have a clearer path to gains than others. That was made apparent again on Wednesday, as a solar installation company got a strong endorsement even as a manufacturing company saw its shares slide.

RBC Capital Markets analyst Elvira Scotto initiated coverage of

Sunrun

(RUN), the dominant installer and developer of solar panels in the U.S., with an Outperform rating and a price target of $81, or about 50% above current prices. The stock was down 3.6% to $54.21 on Wednesday. Analysts have lately gotten more positive on the stock.

Scotto’s bullish sentiment is based partly on

Sunrun’s

scale. She estimates that Sunrun controls 25% of the market, making it the clear leader in the industry.

Rooftop solar has only penetrated about 4% of the U.S., but that could grow to about 13% by 2030, Scotto writes.

“To reach about 13% penetration, average annual installations would need to grow about 15% through 2030, which we view achievable given the greater than 15% average annual growth over the past 10 years. As the market leader we expect Sunrun to grow at or better than the market growth given its scale, brand recognition and cost advantage on financing,” Scotto writes.

That financing advantage could prove key, as the company’s lower cost of capital could allow it to increase its margins in the years ahead.

But other solar companies have been facing more challenges. On Wednesday, solar-panel manufacturer

Maxeon Solar Technologies

(MAXN), which was spun out of solar installer

SunPower

last year, fell 14% even after the company posted better than expected earnings for the fourth quarter. The market appeared to be reacting to Maxeon’s first quarter guidance, which was below Wall Street expectations.

The company expects to bring in revenue of about $160 million, even as analysts had been estimating more than $200 million. And Maxeon expects its gross margins to be negative. Chief Financial Officer Joanne Solomon said that “higher material and solar cell costs as well as logistics costs are impacting profitability.” Solar manufacturing has historically been an up-and-down business where price competition has been brutal.

Write to avi.salzman@barrons.com

SALISBURY — During a brief virtual meeting on Wednesday afternoon, the Rowan County Board of Commissioners officially ratified new rules regarding solar energy systems.

 “I think what we’ve done is fair,” Chairman Greg Edds said. “I think it takes care of those things we’re most concerned about, which is neighborhoods, productive farmland, economic development sites and kind of takes those out of the way, but still gives solar farms an opportunity to come in with either small or large projects where it makes sense.”

After approving changes to both the county’s ordinances and land use plan, commissioners repealed the moratorium on large scale solar energy projects originally implemented in October of 2019 that was extended multiple times.

The commissioner’s actions Wednesday put an end to a lengthy process that included hours of deliberation by both the Planning Board and Board of Commissioners. With the rules now officially adopted, here are some of the major changes:

Classifications for solar energy systems

Residential: Ground-mounted system having a solar collector area of 6,000 square feet or less primarily used to provide or off-set power to a residence on site.

Non-residential: Ground-mounted system that will provide or off-set power to the non-residential operation(s) on site.

Roof-mounted — A system mounted on the roof or wall of a residence, business or accessory structure(s).

Utility scale — A solar energy system that is typically tied to the electric grid to generate power for sale or off-site use and does not qualify as a residential, non- residential or roof-mounted system.

The large solar energy systems, like a system proposed in 2019 that received pushback and prompted the moratorium, will now be classified as utility scale.

Screening requirements

The system area (all of the land within the fenced perimeter) of a utility scale facility located within 300 feet of an existing residence, church or school must install the following:

• A row of trees composed of a mixture of deciduous and evergreen species, 40% of which shall be large maturing trees. All species used shall be between 4- and 6-feet-tall at the time of planting and must create a visual separation. The design shall be submitted for review and installed by a certified member of the NC Landscape Contractors Licensing Board.

• An opaque fence that is a minimum of 6-feet-tall within the required buffer

Setbacks

Setbacks for utility scale systems will now be 100 feet from adjoining property lines and road right of ways.

Size restrictions

The only size restriction imposed on utility scale systems is that it must not exceed 25 acres for applications in an industrial district. The changes to the land use plan, which are listed later in this article, provide guidance for how big systems should be.

Change in application process

The process through which an application for a utility scale solar energy system is considered in rural agricultural and commercial, business and industrial has been changed. Utility scale systems will now have to apply for a conditional district rezoning instead of a conditional use permit. This changes the process from quasi-judicial to a legislative, allowing for give and take between the Planning Board, Board of Commissioners and the solar applicants.

Planning Director Ed Muire said the change to conditional district rezoning for considering solar energy system applications may be the most impactful because it levels the playing field by allowing citizens to give their input on proposed utility scale systems without having to be an expert.

Decommissioning plan

A decommissioning plan for utility scale solar energy systems is now required and must include a cost estimate prepared by a North Carolina professional engineer. It must also detail how the solar energy system will be removed and how the system area will be reasonably restored to its original condition if the system does not produce energy for a 360-day continuous period. 

Prior to permitting, the applicant shall provide Rowan County financial surety at 1.25 times the mutually agreed cost estimate amount.

An updated decommissioning plan detailing costs shall be submitted to the Rowan County Planning Department at least six months prior to the 10-year anniversary of installation and six months prior to every five-year anniversary thereafter. The updated plan must include an analysis of the power produced annually at the facility.

Land use plan changes

Through changes to the county’s land use plan, commissioners have made it clear where solar energy systems are encouraged and where they are discouraged. While there is no hard and fast rule outlawing where a utility scale system can go, it is ultimately the decision of the board where a system can be located. These are the general recommendations:

• Areas currently served or having the potential to be served by water or sewer infrastructure are not preferred locations.

• Existing industrial and economic development zoning districts or sites and properties listed with the Rowan County Economic Development Commission are not preferred locations. 

• Systems are encouraged in areas with low to moderate residential population densities in combination with buffers and screening.

• Locations or areas of a site with topography such that screening and visual separation cannot be achieved from adjoining properties or roadways within a three year time frame should be avoided. 

• Sites that will occupy prime soils or displace active farming operations are not preferred, but if approved should incorporate native plants or grasses as ground cover and include pollinator friendly vegetation. 

• Panel locations within special flood hazard areas or placement of fill within these areas of a site is discouraged.

• Subject to potential utility extensions, sites having identified poor soils or building and septic constraints are generally encouraged for selection. 

• Sites within the view of a public park, National Register-listed historic property or Rowan County landmark are not preferred. 

• Utility scale solar energy systems located within 1 mile of another utility scale solar energy system are discouraged.

• A maximum system acreage of 50 acres is preferred, but may be increased based on the site’s ability to meet all other recommendations contained herein.

Renewable energy companies in central Arkansas recently completed solar arrays for an area city and county. North Little Rock-based Today’s Power Inc. (TPI) recently interconnected a solar array to the grid for Pulaski County, while Little Rock-based Delta Solar will soon complete an array as part of an agreement with the city of England.

TPI recently completed the first of two solar power plants for Pulaski County. The 250-kilowatt solar array is operating near the Pulaski County Detention Center in Little Rock. The 756-panel solar array is expected to reduce the county’s expenses for electricity consumption, according to a news release. It’s also expected to improve quality of life in Pulaski County by protecting public safety and reducing energy costs and will save the county at least $150,000 in the first year, said County Judge Barry Hyde.

The second phase of the project will consist of a TPI 4.6-megawatt fixed-tilt solar array located at Little Rock Port Authority Industrial Park. It’s pending approval by the Arkansas Public Service Commission. The system is expected to be completed in 2021. Once completed, both projects combined will equal a total capacity of 86% of the county’s existing electricity demand.

“Pulaski County led the effort to open access for nonprofits and counties to use reliable, renewable energy in 2019, and now we are proud to have ‘flipped the switch’ on a solar array dedicated to Pulaski County’s use,” Hyde said. “This project will result in significant financial savings to Pulaski County. Those savings will allow us to divert funds to more impactful services such as youth services, emergency management or public works. This is the right thing to do, environmentally and financially.”

In 2019, Pulaski County selected TPI to provide solar-produced power for county use. Work on the recently completed array started in late 2020 after all regulatory and utility approvals were issued. In a 20-year agreement, the county will purchase electricity generated by the array at 4.9 cents per kilowatt-hour. TPI will finance, operate and own 100% of the array.

“Through technology and partnership, this project exemplifies a forward-thinking approach to meeting Pulaski County’s future needs,” said TPI President Michael Henderson. “This project will provide Pulaski County with cost-effective energy security, and we appreciate Judge Barry Hyde’s foresight and the county’s willingness to take on a project like this to promote Pulaski County’s environmental and economic development.”

The project was possible as a result of Act 464 of 2019, which allows governmental entities to net-meter renewable energy purchased from a private producer. This arrangement aims to reduce costs in part by preserving federal tax incentives available for investment in power-producing solar facilities.

SOLAR PROJECT IN ENGLAND
A partnership between Delta Solar and the city of England will leverage non-developable land to build solar arrays for commercial, industrial and agricultural customers across the state, according to a news release. The first phase of the project will include 12 acres off Arkansas Highway 165 that can accommodate more than 2 megawatts of solar arrays. In return for using the land, Delta Solar will provide the city of England with a 37-kilowatt solar array that will supply enough electricity to power the courthouse and parks system.

“Solar provides long-term benefits for the city,” said England Mayor Butch House. “When looking at how others are approaching solar it became obvious that we wanted to own our system and not rely on projected increases in electric rates.”

The city of England will own the array, and Delta Solar will build and maintain it.

“The best solar panels are the ones you own,” said Bob East, chairman at Delta Solar. “Innovation is at the heart of what we do every day to create long-term value for our customers. While power purchase agreements can definitely be attractive, long-term savings are based largely on the projected changes in the future electric rates. Unlike others, the city of England doesn’t need to worry about those changes because they own the system outright.”

East noted the city can expand its array at any time.

“The panels are installed and currently waiting on Entergy to install three transformers,” he added. “We will then attach our panels to the new electrical panel, and the installation will begin producing electricity. This should all be complete and generating power within 30 days.”

The first phase of the partnership is expected to provide more than $174,000 in savings over the project’s 30-year expected life, according to the release. The energy savings will be received directly by the city because it will own the array. The city also will retain ownership of the environmental attributes, known as Renewable Energy Credits, associated with the electricity generation from the new system.

PAOLI, Pa., April 7, 2021 /PRNewswire/ — Keystone Power Holdings, LLC (Keystone), a renewable energy developer/owner of solar facilities, continues to develop and operate solar projects for wastewater treatment plants in Illinois. As with all of Keystone’s projects, these projects deliver a triple benefit: bring down energy costs, reduce environmental impact and build resiliency into local power grids.

Two installations have been operational in Illinois for over 12 months, in the Village of Milan and the City of Colona. Keystone funded the systems through its investment fund, KPH Solar Farms Fund I, which provides financing for eligible projects from 250 kilowatts to 10 megawatts. In each case, Keystone developed, built and financed the development with no up-front costs for the municipalities. The power generated is being purchased by the municipalities at a discount to current utility rates. Projected savings are close to $1 million over the life of the two solar power purchase agreements. In Milan’s case, Keystone was able to purchase land adjacent to the plant to accommodate the installation.

“Illinois continues to be a good market for us, given the business-friendly environment, Illinois’ efforts to go green and support from the Illinois Shines Program,” said Anthony Fotopoulos, co-founder of Keystone Power Holdings. “We are pleased to work with smaller municipalities and non-profits, giving them the opportunity to diversify their energy sources, shrink their carbon footprint while also conserving public funds.”

“It was a pleasure to work with these municipalities and our process makes it easy for them. In both cases, we built solid relationships and found good spaces for installation,” said William DePhillipo, co-founder of Keystone Power Holdings. “Developing solar projects for municipalities continues to be a priority of ours and we look forward to continuing to grow partnerships for similar projects in other states.

About Keystone Power Holdings
Keystone Power Holdings, LLC is a renewable energy developer and owner of solar energy facilities. We specialize in developing medium to large-scale photovoltaic solar systems across North America. We develop facilities for municipalities and non-profits, public and private universities and schools, and large corporate clients on or near their properties, either on the ground or rooftop, while passing on savings. For more information, email [email protected]  or visit our website at www.keystoneph.com.

Media Contact:
Laura L. Kieley
Signal Hill Communications
[email protected]
551.482.5732

SOURCE Keystone Power Holdings

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Say hello to Solarize Asheville-Buncombe, a community-based, group-purchasing solar energy campaign that launches today. The initiative, which is led by a local public-private coalition of organizations including the City of Asheville, Buncombe County, Green Opportunities and the Blue Horizons Project, is open to all property owners in Buncombe County.

The goal? To reduce the financial and logistical barriers of solar installation + help as many homeowners, businesses, and nonprofits as possible make the switch to a more sustainable energy source. The program is built on a tiered bulk purchasing platform, meaning that the higher the volume of participation, the greater the savings. It will also offer fundraising and equitable financing options for folks who have been traditionally marginalized and/or exist in lower-income brackets in order to make solar installation more accessible for all. 

While this program is new for Asheville, solarize campaigns have been successfully implemented across the country for more than a decade and have historically reduced solar installation costs by about 20 percent. Moreover, NC is proving to be a bright spot (pun intended) for the renewable energy sector, ranking second in the nation after California in total installed solar generating capacity with almost 4,700 megawatts at the end of 2019. 

In Asheville, the initial goal is to procure 100 signups for a total of 350 kW of energy (and a more ambitious “stretch” goal of 500 kW). To put that into perspective, 350 kW would offset an estimated 328.30 tons of carbon annually and power an average of 55 homes for one year. Learn more about the financial pros + cons of investing in solar here. 

A unique facet of Asheville’s campaign is its added focus on equitable workforce development. As part of the coalition, local nonprofit Green Opportunities will work with solar installers to help create more clean energy jobs for marginalized folks through a solar installer training program. We will share more info about these programs as they arise. 

More than 150 individuals have already signed up in advance for a free solar evaluation of their properties. To get started, simply tune into the launch event tonight at 6 p.m. + sign up here for a free evaluation. 

State regulators are launching an investigation into how Central Maine Power responded to the implementation of new solar energy development in Maine. Developers say that when new legislative mandates for solar energy were introduced, CMP dropped the ball.

The Public Utilities Commission says it wants to know why CMP this year significantly escalated earlier cost estimates for grid upgrades needed to accommodate the recent surge in mid-size “community solar” projects planned for Maine.

“We want to make sure that this kind of thing doesn’t happen again,” says Phil Bartlett, who chairs the commission.

Bartlett says CMP has a duty to respond prudently to legislative mandates.

“The utilities needed to be prepared for it. And want to better understand: Was it a one-off thing? Is there some fundamental problem in the way that these studies are being conducted? How do we make sure that folks that invested money based on policy enacted by the Legislature are being treated fairly?” he says.

Solar industry trade groups called for the investigation after CMP revealed in February that it would revise upward its estimates by tens of millions.

“A bomb was dropped on the industry with no warning,” says Jeremy Payne, executive director of the Maine Renewable Energy Association.

Payne says the sense of crisis has eased somewhat since, with CMP starting to get a better handle on the true scope of needed upgrades and proposing some less costly approaches. But he still supports the regulators’ effort to open a window on CMP’s internal decision-making processes.

“Many of these companies had fully completed system impact studies, fully executed interconnection agreements, they’d made investments, they’d financed their projects and in some cases started building them based on information they received from Central Maine Power,” he says.

The regulators say CMP needs to provide much more documentation than it has so far.

CMP spokeswoman Catharine Hartnett says the company will fully cooperate with the investigation. She also notes that over the course of two years, new solar power projects proposed in Maine rose from just two to some 600.

“Everybody wants as much clean energy as we can get, as soon as we can get it. But there are some technical challenges in getting that done safely, and we’ve made great progress over the last couple of months in being able to break this all down for folks, and we’ll continue to do that,” she says.

Stakeholders on all sides say it’s too early to tell how or whether the state’s renewable energy goals may have been set back. And lawmakers are also considering a temporary moratorium on any new proposals for mid-size solar projects, as regulators raise concerns that incentives that drove the influx threaten to unduly raise bills for consumers who don’t directly benefit from the installations.

Regulators are also considering a request from CMP to increase rates to recover some of the costs from five major storms last year.

The company asked the commission to boost rates by $26.5 million to compensate for the unexpected expenses. That proposal will be reviewed and other factors considered before July 1, when any change would take effect.

CMP’s requested increase for the distribution portion of monthly bills is nearly 9.6%, or a little less than $3 per month for the average bill.

The Associated Press contributed to this report.