Germany Solar Energy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The market for solar energy in Germany is expected to grow at a CAGR of more than 6.12% in the forecast period of 2020-2025. Factors, such as encouraging government policies, environmental awareness, the government's self-commitment to decrease carbon footprint, and reducing the cost of imports, contribute to the growth of the market. Along with this, falling solar energy (USD/KW) accompanied by government subsidy is encouraging the public to install solar panels for domestic purposes. However, high installation costs, continuous maintenance, and unreliability of the source are some of the factors that impede the growth of the market.
Key HighlightsThe German solar energy market is partially fragmented. The major players includeIBC SOLAR AG, Centrotherm International AG, SunPower Corporation, Schott Solar Inc, and Hanwha Q Cells Co. Ltd.
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