Harvesting the Future: Cutting-Edge Innovations Reveal the Boundless Growth of Global Agrivoltaics Market; was valued at US$ 3.23 Bn in 2023 & is projected to grow at a CAGR of 11.2% through 2034; states TNR, The Niche Research
Wilmington, Delaware, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Agrivoltaics, a synergistic approach combining agriculture and solar energy production, represents a rapidly growing market. This innovative system allows for the co-deployment of solar panels and crops on the same land, optimizing land use and enhancing sustainability. Agrivoltaics can be applied in various settings, including large-scale farms, urban rooftops, and solar farms integrated with agricultural operations. For instance, projects like the “PV4Plants” initiative in the Netherlands showcase how solar panels can provide partial shading for crops, which reduces water evaporation and improves crop yields. In the United States, California's “Solar Roots” project demonstrates how solar installations can coexist with grazing lands, supporting both energy generation and livestock production.
The integration of solar panels into agricultural systems offers multiple benefits. Farmers gain additional income from solar energy production while continuing their primary agricultural activities. For example, the “Agri-PV” system in Japan has proven that agrivoltaic systems can increase land productivity by up to 60% compared to traditional farming. Additionally, agrivoltaics contribute to reducing greenhouse gas emissions, promoting sustainable land use, and enhancing food security by optimizing the use of available land.
Comparison of Roof-Mounted and Ground-Mounted Agrivoltaics:
| Aspect | Roof-Mounted Agrivoltaics | Ground-Mounted Agrivoltaics |
| Installation Location | Installed on building rooftops or structures. | Set up on open land or farmland. |
| Space Utilization | Utilizes existing building surfaces, conserving land. | Requires dedicated land, which may impact agricultural use. |
| Land Use | It does not disrupt land use and preserves agricultural land. | Can be integrated with farming activities but requires land conversion. |
| Accessibility | Easier access for maintenance and installation due to proximity to buildings. | May require additional infrastructure for access and maintenance. |
| System Size | Typically, smaller due to limited roof space. | Can accommodate larger systems due to extensive land availability. |
| Initial Costs | Generally lower, as it leverages existing structures. | Often higher due to land preparation and mounting infrastructure. |
| Energy Production | Limited by roof size; suitable for smaller-scale projects. | Higher potential energy output due to larger installation areas. |
| Impact on Agriculture | No direct impact on farming activities. | May reduce available farmland but can be integrated with crops or livestock. |
| Examples | Urban buildings in Berlin, Germany; residential areas in San Francisco, USA. | Solar farms in agricultural regions like Yuma, Arizona, USA; large-scale projects in India. |
North America to Grow Fastest in the Global Agrivoltaics Market
This rapid expansion is driven by increasing investments in solar energy and agricultural innovations, supported by favorable government policies and technological advancements. Agrivoltaics, the integration of solar panels with agricultural activities, offers a dual benefit of producing renewable energy while optimizing land use for farming.
The United States, in particular, is at the forefront of this growth. For example, the state of California has been a pioneer, implementing several agrivoltaic projects such as the “Kern Solar and Storage Facility,” which not only generates renewable energy but also supports local agricultural practices. Similarly, in Texas, the "SunFarm" initiative has been designed to enhance crop yield through controlled shading provided by solar panels, demonstrating a successful model of combining energy production with agriculture.
Furthermore, Canada is making significant strides with projects like the “Green Energy Farm,” which aims to integrate solar technology with traditional farming practices to boost both energy output and agricultural productivity. These advancements reflect North America's commitment to sustainable practices and highlight the region's potential to lead in the agrivoltaics market in the coming years.
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Competitor Insights:
The key companies profiled in the agrivoltaics market are mentioned below:
- Agrivoltaic Solution LLC
- BayWa AG
- Boralex
- Enel Green Power
- Mackin Energy
- REM TEC
- Sun Agri
- Sunrise Power Solutions
- Suntech Power Holdings
- TotalEnergies SE
- Other Industry Participants
Manufacturers in the global agrivoltaics market are adopting innovative approaches and strategies to enhance their market presence. Key strategies include:
- Technology Integration: Companies are focusing on integrating advanced solar technologies with agricultural practices. For example, in 2020, Sun'Agri in France introduced dynamic solar panel systems that adjust to optimize light for both crops and energy generation, showcasing a commitment to technological advancement in agrivoltaics.
- Partnerships and Collaborations: To expand their market reach, manufacturers are forming strategic partnerships. In 2021, Enel Green Power partnered with various agricultural organizations in Italy to deploy agrivoltaic systems across vineyards, demonstrating a collaborative approach to integrating solar energy with farming.
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- Tailored Solutions for Diverse Crops: Companies are developing specialized agrivoltaic systems for different types of crops. For instance, in 2022, the Japanese company Yokohama Industries launched semi-transparent solar panels specifically designed for rice paddies, addressing the unique needs of this crop while enhancing energy output.
These strategies reflect manufacturers efforts to innovate and address the diverse needs of the agrivoltaics market while expanding their global footprint.
Key Developments:
- In October 2023, the National Solar Energy Federation of India (NSEFI) launched the Agrivoltaics Alliance in Delhi. This initiative aims to enhance crop production efficiency by reducing costs and optimizing sunlight usage, ultimately addressing the issue of adulterated vegetables in the market.
- In December 2023, Turkey commenced its Agrivoltaics research project to assess both the products and production processes. This effort includes the introduction of specialized tracker systems designed for crops grown using agrivoltaic methods.
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- In December 2022, the U.S. Department of Energy unveiled the Foundational Agrivoltaics Research for Megawatt Scale (FARMS) program, which allocated $8 million to support six solar energy research projects in various states and the District of Columbia.
Global Agrivoltaics Market:
By System
- Static
- Dynamic
By Crop Type
- Fruits
- Vegetables
- Grains
- Herbs and Medicinal Plants
- Others
By Mounting Type
- Roof Mounted
- Ground Mounted
By Application
- Agriculture Farms
- Greenhouses
- Orchards
- Agroforestry
- Livestock Farms
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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