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Statista R identifies and awards industry leaders, top providers, and exceptional brands through exclusive rankings and top lists in collaboration with renowned media brands worldwide. For more details, visit our website.
The solar energy market has grown significantly in recent years, driven by technological advances and declining costs. It is expected to continue its growth trajectory as countries and companies transition to cleaner energy sources to combat climate change. The market includes a range of products such as solar panels, solar batteries, and solar inverters, which are used in residential, commercial, and industrial applications.
The energy market is expected to continue growing, with increasing demand for energy worldwide as populations grow and economies develop. However, the mix of energy sources is expected to shift towards cleaner and more sustainable options, with renewable energy sources like solar, wind, and hydropower projected to continue growing rapidly. Fossil fuels are expected to gradually decline in importance, although they are likely to remain significant contributors to the global energy mix for several decades, especially in countries that rely almost totally on fossils.
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as annual reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts.
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electricity generation due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.
In 2022, Italy finally returned to Europe''s GW Club, with 2.48 GW of new PV systems installed. Alberto Nadai, Area Sales Manager – Northern Italy at Q Cells, analyzes the different sectors and the expected developments.
In 2023, Italy installed over 5GW of new solar PV generation capacity, by some distance the most since 2011. Of last year''s new capacity, a far larger share was taken up by large-scale projects; the national trade body, Italia Solare, recorded that in Q3 2023, the country added 341MW of solar in plants of 10MW or more, compared with 420MW from the same-sized facilities in the preceding two and a half years.
As Italy''s solar market looks to be finding its feet after a decade of stumbling around below the 1GW mark, 2024 could be the year it starts to cover real ground again. But hurdles still remain, from grid constraints to permitting issues, engineering, procurement and construction (EPC) bottlenecks and land constraints.
PV Tech Premium recently spoke with Cristiano Spillati, Managing Director of Limes, a solar and renewable energy developer headquartered in Italy. Our conversation took place in a hotel lobby at the Large Scale Solar Europe 2024 conference in Lisbon last month. As was reflected in our coverage of the event at the time, grids were a recurring topic, particularly when conversation turned to Southern Europe.
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