Solar Report | EICTV

EIC Insight Report


March 2023

Authored by

  • Ainee Shah

    Energy Consultant, EIC

With a global effort to pursue net zero emissions, clean energy capacity is growing as an increasing number of countries begin to adopt renewable energy, with solar PV being a popular technology type of choice. Over 30% of utility scale renewable projects – inclusive of onshore wind, offshore wind, solar CSP and hydroelectricity – that have come into operation between 2013 and 2023 are solar PV projects, accounting for an estimated total capacity of over 154GW of global utility scale PV capacity, according to EICDataStream and EICAssetMap.

Countries across the globe are increasingly committing to net zero targets and many private sector companies aiming for environmental, social, and governance (ESG) targets, which has also contributed to solar PV adoption. The technology itself has proven to be versatile and can be deployed in various environments, be it rooftop, floating or ground- mounted enabling power generation in rural areas too.

In this report, insights on key regional markets as well as leading operator and contractor trends will be explored, highlighting the significant growth of the sector.

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