Press Release

Israel Agrivoltaic Market to Accelerate at a CAGR of Around 71.23% During the Forecast Period

The Israel Agrivoltaic Market is anticipated to grow at a CAGR of 71.23% during the forecast period of 2024–30, cites MarkNtel Advisors in the recent research report. Israel stands out as one of the global hotspots for changes in climatic conditions, which are characterized by extreme weather conditions involving rapid rises in temperature variations that are greater than the global average rate. These challenges are further coupled with the serious water scarcity challenges in the country, which are posing a significant hurdle for the energy and agricultural sectors since they strive to meet the high demand for power and food production in Israel.

Moreover, the growth of the Agrivoltaic Industry in Israel is driven by various factors, including rising concern for food security and the imperative to further expand the agricultural sector to fulfill the needs of the population in the country. Agrivoltaics is an effective, innovative approach involving both power generation and the cultivation of crops on the same arable land, thus offering a compelling solution. It empowers the farmers and the operators to not only produce crops efficiently but also generate income out of the generation of energy in the agrivoltaics. As stated by the International Trade Administration (ITA) in 2022, Israel is among the countries that are facing a lack of self-sufficiency in the agricultural sector and is further relying heavily on food imports to meet the high demand for food in the country. The low availability of arable land is pressing the need for innovative approaches such as agrivoltaics in Israel to bridge the gap between the demand and supply of energy and food production in the country.

Furthermore, the biggest agrivoltaic companies, including SolarEdge, Teralight, etc., are actively engaged in the pioneering and further advancement of various agrivoltaic projects across different regions of Israel. These activities are aimed at addressing the high demand of the population and thereby bolstering the growth of the Israel Agrivoltaic Market in the forthcoming years, further states the research report, “Israel Agrivoltaic Market Analysis, 2024.”

Monocrystalline Segment Holds a Major Share of the Market

Based on the cell type segment, the market is further bifurcated into monocrystalline and polycrystalline. Among them, monocrystalline cells have witnessed a considerable share of market growth since the historical period, as they offer the highly efficient and advanced ability to harness and convert a high percentage of sunlight to generate maximum power production as compared to their polycrystalline counterparts. Polycrystalline involves multiple crystals of silicone, which have higher temperature coefficients and are less efficient than monocrystalline panels, which offer effective working even during high-temperature variations.

Since Israel is one of the countries involving high-temperature variation conditions, monocrystalline is a much more effective cell type that can operate in such hot climatic conditions. As a result of these advantages, the market for monocrystalline solar panels in the agrivoltaic industry is poised for significant growth in the country.

Greenhouse Segment to Capture a Major Market Share

Since Israel is characterized by arid conditions and high temperatures, greenhouse agrivoltaic is considered a preferred choice in a country like Israel as it involves the management and control of the temperature and humidity for the production of crops. This type of placement in agrivoltaics offers distinctive factors over alternatives such as standalone, shading nets, etc. They not only offer shade to the crop, as in shading nets but also offer maintenance of temperature conditions. They also occupy a smaller land area compared to the standalone system.

Furthermore, greenhouse agrivoltaics are more efficient than shading nets and standalone agrivoltaics in terms of water consumption, as they contribute to water conservation by decreasing evaporation and reducing the need for extensive irrigation, thus tackling the challenge of water scarcity in the country. As a result, the demand for greenhouse agrivoltaics is expected to rise, which is further contributing to the growth & expansion of the market in the country in the coming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Enel Green Power, Engie, Teralight Solar Tech, SolarEdge, Sun Agri, Doral Energy, Trisolar, Trina Solar, Agri-light Energy System Ltd., BayWa r.e., and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?