Solar Energy Market in Canada 2024-2028

Solar Energy Market In Canada 2024-2028

The solar energy market in Canada is forecasted to grow by USD 2256.74 mn during 2023-2028, accelerating at a CAGR of 24.16% during the forecast period. The report on the solar energy market in Canada provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing government support for solar power technology, rise in investments in clean energy technologies, and declining levelized cost of energy (lCoE) of solar power generation.

Technavio's solar energy market in Canada is segmented as below:

By Application

• Grid-connected
• Off-grid

By End-user

• Utility
• Rooftop

By Technology

• Photovoltaic systems
• Concentrated solar power systems

This study identifies the growing adoption of pay-as-you-go (PAYG) model as one of the prime reasons driving the solar energy market in Canada growth during the next few years. Also, new developments in solar energy market in Canada and increase adoption of solar energy sources in transport will lead to sizable demand in the market.

The report on the solar energy market in Canada covers the following areas:

• Solar energy market in Canada sizing
• Solar energy market in Canada forecast
• Solar energy market in Canada industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading solar energy market in Canada vendors that include Azgard Solar Inc., Bird Construction Inc., BluEarth Renewables, Canadian Solar Inc., DP Energy, Gorkon Industries, Great Canadian Solar Ltd., GREENGATE POWER CORP., HELIENE Inc, miEnergy Inc., PureSky Community Solar Inc., Quadra Power Inc., and VCT Group Inc.. Also, the solar energy market in Canada analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.