This research estimates the size and trend of the global solar photovoltaic (PV) operation and maintenance (O&M) market as of 2022. The methodology for this work includes segmentation of the global market to multiple countries, with each country having a different ratio of residential, commercial and utility scale solar installations. The result of this study for 2022 - global solar PV O&M market size cap is 11.7 billion USD, composed of distributed (residential and commercial) 5.3 billion USD and solar fields (large industrial and utility-scale) 6.4 billion USD segments. The current estimate is that by 2025 the global solar PV O&M market would grow to a total of 20.2 billion USD, composed of 10.8 billion USD distributed and 9.4 billion USD solar fields segments.
The methodology for this work includes segmentation of the global market to multiple countries, with each country having a different ratio of residential, commercial and utility-scale solar installations. Nearly 20 million solar PV facilities are deployed globally, including different ratios of distributed and solar fields for each country. By utilizing an estimate of facility size ratios within each country multiplied by annual O&M cost and added together, one can obtain a global estimate of O&M costs. The methodology includes figures for major countries with massive solar deployments from a variety of sources and when unavailable - an estimate is utilized. It is important to emphasize that definitions for the matter of this study for residential scale are <25kWp, commercial is <1MWp, Industrial is <10MWp and utility scale is anything above 10MWp. Different countries apply varying size definitions for those segments, thus for instance in US utility-scale is defined as >5MWp. Hence, the results of this study may somewhat differ from others depending on definitions.
Figure 1. Estimating the global solar photovoltaic Operation & Maintenance market size - distributed (residential & commercial) and solar fields (industrial & utility scale).
The update of the previous study for 2021 is exceeding previous estimate (9.8 billion total: 3.8 billion distributed, 6.0 billion USD utility-scale) - global solar PV O&M market size cap was at 10.0 billion USD, composed of distributed (residential and commercial) 4.2 billion USD and solar fields (industrial and utility-scale) 5.8 billion USD segments. The previous estimate for 2022 said the global solar PV O&M market would grow to a total of 10.9 billion USD, composed of 4.6 billion USD distributed and 6.3 billion USD solar fields segments, which is also updated upwards.
The result of an updated study for 2022 - global solar PV O&M market size cap is 11.7 billion USD, composed of distributed (residential and commercial) 5.3 billion USD and solar fields (large industrial and utility-scale) 6.4 billion USD segments. The current estimate is that by 2025 the global solar PV O&M market would grow to a total of 20.2 billion USD, composed of 10.8 billion USD distributed and 9.4 billion USD solar fields segments. The rate of PV deployment growth in 2021 to 2025 is expected to be more aggressive than during 2015-2019 period, with little lag compared to pre-Covid19 estimates for total installations by 2025.
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