Germany Solar Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The market for solar energy in Germany is expected to register a CAGR of more than 7% during the forecast period. The COVID-19 pandemic had a negligible effect on the solar energy market in the country, as they witnessed an upsurge in solar power share in power production in 2020, even after a slowed industrial activity during the lockdown. The German solar market has envisaged a huge expansion mainly due to two factors, the well-developed infrastructure for solar technology to get integrated with national grids and the presence of top-notch renewable energy companies in the country. However, the market growth is hampered by the unfavorable climate, as Germany is not a very sun-drenched country.
Key HighlightsThe German solar energy market is moderately fragmented. The major players include IBC SOLAR AG, Centrotherm International AG, SunPower Corporation, Schott Solar AG, and Hanwha Corporation, among others.
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