Greetings to all my readers and fellow solar enthusiasts!
Today, I will shed light on the rapid growth of the global solar tracker market and how it’s fostering innovation in project development. As per S&P Global Commodity Insights, the global solar tracker market flourished and saw an increase from 73 GW in 2022 to 94 GW in 2023 in shipment terms, underlined by the surge outside the three main markets – the United States, Spain, and Brazil.
Interestingly, Saudi Arabia and India are now the fourth- and fifth-largest markets for solar tracker shipments, with an increase fueled by a growing demand from developers and a rise in utility-scale installations.
Most solar tracker shipments are made within 45-degree latitude lines, due to their specific tracking requirement. These are generally north-south oriented rows tracking the sun from east to west. The upside of trackers is that they require less land and use fixed tilt systems, but they do reduce yield further from the equator due to inability to tilt solar panels north or south.
Innovation and the solar tracker market are parallel trends. Agrivoltaics show formidable potential in this regard. It involves designing tracker rows to allow farming vehicles to freely navigate between solar arrays while maintaining optimal solar efficiency. Fruit farms even employ overhead tracker designs to regulate sunlight exposure.
Prefabrication is another innovative technique cropping up in the industry. Initially used to cut down labor requirements and enhance installation speeds, new revolutionary products now only need a few days per megawatt of generation capacity to be installed by a relatively small team of workers. This development also opens up prospective project locations with undulating land and hilly regions.
Looking at the forecast from S&P Global, there will be 752 GW of tracker installations between 2024 and 2030, with mounting growth coming from the Asia-Pacific and the Europe, Middle East, and Africa regions. The continuation of robust growth in utility-scale installations, augmented by potential green hydrogen sites, will likely keep the tempo of tracker shipments steady.
On a final note, the United States is predicted to contribute 39% of tracker installations throughout the 2024-2030 period, largely due to incentives in the form of tax credits from the Inflation Reduction Act (IRA). A number of solar companies have jumped on the opportunity to manufacture “IRA-friendly” products on US soil, vying for the attractive credits and “adders” for local manufacturing.
The future of the solar tracker market seems bright with substantial growth and rapid transformations expected in the coming years. With emerging markets and shifting manufacturing locations, solar companies will need to continuously innovate to make previously unsuitable projects feasible. This lively scenario presents an exciting opportunity for the industry to push the envelope and drive the adoption of solar energy.
It’s an enthralling period to consider solar panels for your home or to design a solar array for home use. The advancements in the market make it an ideal time to invest in solar and become a part of the renewable energy landscape. Stay tuned to my blog for more insights into the ever-evolving world of solar power!
Original Articlehttps://pv-magazine-usa.com/2024/09/18/innovation-driving-change-in-solar-tracker-market/
