Solar EPC Market Size, Share, By Energy Source, Project Type, System Size, End-Use, and By Region - Trends, Analysis and Forecast till 2035

Solar EPC Market Size, Share, By Energy Source, Project Type, System Size, End-Use, and By Region - Trends, Analysis and Forecast till 2035

EPC in the solar industry means engineering, procurement, and construction. It is a term that is widely used by companies that provide end-to-end solar energy services, including designing the system, giving procurement details about the system, and installing it. The increasing adoption of integrated solar and battery storage solutions, rising popularity of solar micro grids and off-grid systems are another factors propelling growth of the global market. Furthermore, technological advancements, which increases the efficiency and cost-effectiveness of production is also anticipated to create opportunities for growth of the global market over the forecast period.

Solar EPC Market Report Highlights:

• Solar EPC market size is expected to grow at USD 459.8 Billion by 2035.
• The target market was valued at USD 249.16 Billion in 2024.
• Target market is expanding at a CAGR of 7%.
• North America held the largest share of the market in 2024.
• Asia Pacific is projected to be the fastest-growing market in the forthcoming years.
• On the basis of energy source, the photovoltaic solar segment is dominating the market.
• The rooftop solar project segment holds the dominant share in the market.
• The large scale solar EPC (Over 10MW) segment is leading the market under the system size segmentation.
• By end use, the commercial & utility segment is leading the market.

Solar EPC Market Key Highlights:

• In December 2024, SolarWadi, a leading renewable energy developer in Oman, proudly announced the signing of an EPC (Engineering, Procurement, and Construction) contract with Nafath Energy, a distinguished Omani EPC contractor in the solar energy sector, to execute the solar power plant at the Arab Open University in Muscat.
• In December 2024, Gamuda Bhd's Australian subsidiary DT Infrastructure Pty Ltd has secured an A$625 million (RM1.8 billion) engineering, procurement and construction (EPC) job for the Goulburn River Solar Farm project. In a filing with Bursa Malaysia on Monday, Gamuda said DT Infrastructure’s role in the project will include the civil, structural and electrical infrastructure required for the 585MW solar farm commencing Jan 1, 2025.

Solar EPC Market Report Analysis:

For instance, in August 2023, according to research article by RENEWABLE WATCH, commercial and industrial customers are increasingly deploying rooftop solar installations in order to save money on electricity and satisfy climate obligations. Many of these clients are developing small-scale hybrid rooftop solar projects using the engineering, procurement, and construction (EPC) style of project development, in which the customer who owns the asset bears the entire investment.

DESI Power’s 3.6 kWp Solar PV System with Battery Bank at Mosamat Budhiya Shiksha Nirman Sangathan, Araria, Bihar

The director of Decentralised Energy Systems India (DESI Power), claimed that quality education is a must for every child and distributed renewable energy (DRE) technology can ensure reliable energy access for schools so that modern technologies and techniques can be utilis¬ed without any disruption. Rooftop solar PV installations are particularly ad¬va¬n¬tageous for schools since power generation and consumption occur mostly during the daytime. Access to clean energy, water and ed¬ucation is key to achieving sustainable development goals and DRE plays an important role in meeting these goals.

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Solar EPC Market Competitive Landscape:

The major market players operating in the Solar EPC market are Tata Power Solar Systems Ltd., STERLING AND WILSON RENEWABLE ENERGY LIMITED, VIKRAM SOLAR LTD., WAAREE, SOLV Energy, Rosendin Electric, Inc., First Solar, JA SOLAR TECHNOLOGY CO., LTD., Jinko Solar, Hanwha Solutions, Complete Solar, LONGi, RISEN ENERGY CO., LTD., and CANADIAN SOLAR