Market Research Report

Europe Agrivoltaic Market Research Report: Forecast (2023-2028)

Europe Agrivoltaic Market - By Placement (Standalone, Shading Nets, Greenhouse, Others) , By Cell Type (Monocrystalline, Polycrystalline), By Crop Collaboration (Vegetables, Fruit,...Crop, Others) , By Type of Solar Panel (Opaque, Semi-Transparent, Transparent), By Power Output (Upto 10 KWh, 10.1 to 50 KWh, More Than 50 KWh) and others Read more

  • Environment
  • Sep 2023
  • 141
  • ET55037

Market Definition

Agrivoltaic is a land-use practice that involves the cultivation of crops or vegetation along with the installation of solar panels on the same piece of land. This system combines agriculture and photovoltaic systems for the production of crops as well as energy through solar panels. This system creates a synergistic relationship between crops and solar panels in which the solar system provides shade for the vegetation to reduce the water loss within the plants. By the utilization of the same land for both practices, farmers could lower their energy costs and be financially sustainable.

Market Insights & Analysis: Europe Agrivoltaic Market (2023-28):

The Europe Agrivoltaic Market size was valued at USD 131.53 Million in 2022 and is estimated to grow at a CAGR of around 69.34% during the forecast period, i.e., 2023-28. The demand for renewable energy has seen a rapid surge in Europe in recent years due to changing climatic conditions, high temperatures, etc. As a result, European countries like Germany, France, Belgium, Italy, and others have been investing heavily in agrivoltaic systems to sustain the demand for both agricultural land and clean energy.

The Agrivoltaic projects are now expanding and many biggest companies in the world are investing in these projects across the region. Along with it, the European nationals collaboratively have announced its target to reach net zero emissions by 2050 and also modified its energy transition framework by 2030 by significantly reducing its fossil fuel consumption and increasing the deployment of solar and wind energy generation plants, which is further anticipated to enhance the market size in the forthcoming years.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 69.34%
Country Covered The UK, France, Germany, The Netherlands, Italy, Spain, Ireland, Rest of the Europe
Key Companies Profiled Enel Green Power, Engie, Sun' Agri, GreenYellow, REM Tec, Kilowattsol , Trina Solar, Altergie , TDK Electronics, SunEwat, Akuo Energy, BayWa r.e., Next2Sun, Falck Renewables, Others
Market Value (2022) USD 131.53 Million

 

Along with it governments in Germany, France, Italy, and others are encouraging the development of large-scale Agrivoltaic projects through auctions and massive investments. For instance, in January 2021, the Energy Regulatory Commission (CRE) awarded 40 MW of Agrivoltaic projects under its innovative PV tender. Along with it the participation of private parties is also encouraged by these countries to achieve the targets for sustainable agriculture and climate change. For instance, in 2022, the government in Italy released a new set of agrivoltaic norms, which are primarily focused on faster approval of the project and incentives the private companies. Thereby encouraging private companies to establish agrivoltaic systems for farmers, this subsequently resulted in the growth of the agrivoltaic market across the region. 


Europe Agrivoltaic Market Research Report: Forecast (2023-2028)

Agrivoltaic put forward an opportunity for European countries to facilitate the feat of both sustainable agriculture and clean energy transitions. Thus, through the execution of Agrivoltaic, the agriculture sector of Europe became more sustainable, competitive, and resistant to climate change with the use of solar energy, which, in turn, improved food production, reduced water consumption in irrigation, and produced more renewable energy. Besides, various collaborations had been initiated in Europe, which had derived the economy towards a greener world and would, therefore, accelerate the development of agrivoltaic systems in the agriculture sector. Hence, practicing agrivoltaic in the agriculture sector facilitated the management of temperature and, as a result, enhanced crop quality and quantity at large. It is projected that the scope of Agrivoltaic will further escalate the European market size during 2023–28.

Europe Agrivoltaic Market Driver:

Supportive Government Policies & Massive Investments for Solar Adoption– The rising government initiatives and investments by the countries in the region have supported the adoption of solar systems and have led to an increase in the europe agrivoltaic market. In addition, the member states of the European Union (EU) have taken various initiatives to enhance the share of renewable energy in electricity in Europe. The members of the EU, including France, the UK, Germany, etc., have implemented climate agreements, including the Paris Climate Agreement and the Green Deal, and have increased the consumption of clean energy for electricity and the minimum usage of water. Further, massive investments have also been announced for solar energy adoption and agrivoltaic systems, which in turn will lead to an increase in the europe agrivoltaic market size in the coming years.

Europe Agrivoltaic Market Opportunity:

Organization Deploying Pilot Projects to Detect the Effect of Agrivoltaic Systems on Different Crops – Various organizations taking initiatives to establish a testing project to understand the effect of agrivoltaic systems effects on various crops could emerge as an opportunity for the agrivoltaic market. These projects not only help to understand the sustainable practices of agriculture but also help in the generation of data that could leverage the growth of the agrivoltaic market. For instance, French solar developer TSE company, deployed a PV system on the soybean farm to understand the effects of such a system on crop productivity.

Insights from these experiments could help to understand the potential benefits of agrivoltaic systems as well as help farmers identify the crops more suitable to integrate with PV systems. Moreover, the collaboration between organizations and landowners for fostering pilot projects of agrivoltaic systems would accelerate the adoption of this system which is further expected to increase the market share in the forthcoming years.

Europe Agrivoltaic Market Challenge:

Lack of Concrete Definition, Harmonization, and Standard across Europe, resulting in Green-Washing – The absence of uniform regulations across Europe could produce obstacles in the expansion and implementation of Agrivoltaic systems across the region. The lack of a universal definition for such a system resulted in the absence of standardized regulations. This could affect agricultural activities, which need to be maintained at all times. Implementation of solar panels on agricultural land to produce both crops and energy might change the way their land is classified, which could cause legal obstacles for the farmers. Changes in their agricultural land characterization make them ineligible for specific government support programs, causing financial problems for the farmers. This could affect the adoption of agrivoltaic systems among the farmers. Thus, to understand the potential solution to avoid the impact of crop shading on the yield, sustainable development of the agrivoltaic system needed to be regularized by the European Union for the establishment of uniformity across the region in the forthcoming years.

Europe Agrivoltaic Market Trend:

Innovation of New Technologies such as Transparent Solar Panel and Solar Photovoltaic for Agrivoltaics- Solar cells are made of layers of semiconductor materials similar to those that are used in computer chips. When sunlight is absorbed by these materials, the solar energy knocks electrons loose from their atoms, allowing the electrons to flow through the material to produce electricity. Technologies like solar photovoltaics could meet sustainability and address resilience concerns regarding the Europe energy system. The cost of solar panels has decreased continuously, and has resulted in the reduced installation costs of Agrivoltaics, which has significantly elevated the demand for Agrivoltaics.

Transparent solar panel is a growing trend in the agrivoltaic market which has attracted a sizeable investment and attention in various regions across the world. The transparent solar panels allow concurrent production of crops and electricity on the same cropland. These panels allow the increasing amount of red light to pass through them and helps in maintaining the balance of phytochrome in the plants resulting in the longer crop plants life. Therefore, transparent solar panels are emerging as a trend for increasing crop yields while generating clean power.

Europe Agrivoltaic Market (2023-28): Segmentation Analysis

Europe Agrivoltaic Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment. It includes predictions for the period 2023–2028 at regional, level. Based on the analysis, the market has been further classified as:

Based on Crop Collaboration:

  • Vegetables
  • Fruits
  • Crops
  • Others (Herbs, etc.)

The vegetable segment witnessed a significant share in the market during the historical period. According to IoF 2020 (Internet of Food and Farm 2020), the vegetable sector accounted for about 10% of the overall value of agricultural output in European countries. This is due to factors like favorable climatic conditions, high cultivation standards, and vegetable production methods like the installation of Agrivoltaic systems that have enhanced the quality of the vegetables produced in the region.

Moreover, the shift towards sustainable agriculture has enabled the adoption of eco-friendly methods of agriculture production. In the agriculture sector, a large amount of electricity is consumed during the irrigation process, which further increases farmers' dependency on the on-grid source of electricity, increasing the cost of production. Hence, implementing the agrivoltaic system helps farmers to produce vegetables and generate renewable electricity, as well as lessen their energy dependency on the on-grid source. Thus, accelerating the demand for the agrivoltaic for vegetables in Europe during 2023–2028.

 Based on Cell Type:

  • Monocrystalline
  • Polycrystalline

Monocrystalline photovoltaic (PV) cell modules have gained a notable share in the market during the historical period, owing to the greater efficiency provided by the monocrystalline over polycrystalline PV cell modules. Observing the benefit of monocrystalline PV cell modules various companies like Aleo Solar, Recom Technologies, Carbon, etc., are designing and manufacturing monocrystalline solar panels, for multiple projects in Europe. Hence, owing to the shifting preference of the customers towards the Monocrystalline photovoltaic cell modules would accelerate the market size growth during the forecasted period.

Europe Agrivoltaic Market (2023-28): Regional Projections

Geographically, the Europe Agrivoltaic Market expands across:

  • The UK
  • France
  • Germany
  • The Netherlands
  • Italy
  • Spain
  • Ireland
  • Rest of Europe

The UK is anticipated to hold a significant share of the market in the upcoming years, owing to the implementation of supportive low-carbon emission regulations by the government in the country. In the UK, implementation of the agrivoltaic system is expected to grow due to various factors, including the growing energy demand across several industries, the government’s strong commitment to energy security by diversifying their energy production, adoption of uniform regulatory frameworks, and providing incentives and funding to renewable energy projects.

Furthermore, the implementation of the Agrivoltaic system helps in effectively and efficiently utilizing agrarian land space as it reduces water loss and improves crop harvesting due to proper shading and appropriate lights on crops, protecting them from wind, cold, and other worsening climatic conditions. Owing to the several advantages of agrivoltaic, companies have opened agrivoltaic parks and plants to produce maximum energy and fulfill the needs of food production by making maximum utilization of land across the country.

Moreover, to achieve these targets, the UK implemented various policies and incentives to support this transition as well as promote decentralized energy production by increasing the participation of local communities. Agrivoltaic systems, by combining solar energy generation and agricultural activities, encourage the owner of land to participate in energy production while performing crop cultivation practices. Furthermore, the agrivoltaic system provides economic and environmental benefits, supporting the initiatives of the entire European Union to achieve their targets. Such initiatives are projected to drive market growth in the UK over the future years as they create favorable conditions for the expansion of the market size during 2023–2028.

Europe Agrivoltaic Industry Recent Development:

  • In 2023, Vattenfall group, invested for the development of around 76 megawatt Tutzpatz agrivoltaic project in the approximately 95-hectare agricultural land.
  • In 2023, Renantis launched third lending campaign for crowdfunding to support the construction of the La Manganizza agrivoltaic plant in Italy.

Gain a Competitive Edge with Our Europe Agrivoltaic Market Report

  1. Europe Agrivoltaic Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps business organizations to gain a holistic understanding of the market dynamics & to make rational decisions.
  2. This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. Europe Agrivoltaic Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, business organizations can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. Europe Agrivoltaic Market size is expected to grow at a CAGR of around 69.34% during 2023-2028.

   A. Supportive government policies & massive investments for solar adoption to drive the Europe Agrivoltaic Market share during 2023-2028.

   A. The top players in Europe Agrivoltaic Market are Enel Green Power, Engie, Sun' Agri, GreenYellow, REM Tec, Kilowattsol, Trina Solar, Altergie, TDK Electronics, SunEwat, Akuo Energy, BayWa r.e., Next2Sun, Falck Renewables, and others are the top players in Europe Agrivoltaic Market.

   A. Monocrystalline is the leading cell type in Europe Agrivoltaic Market.

   A. Innovation of New Technologies such as Transparent Solar Panel and Solar Photovoltaic for Agrivoltaics are the key trends shaping the growth of the Europe Agrivoltaic Market.

   A. Organization deploying pilot projects to detect the effect of Agrivoltaic System on different crops are the growth opportunities driving the Europe Agrivoltaic Market through 2028

   A. Lack of concrete definition, Harmonization, and Standard across Europe, resulting in Green-Washing are possible restraints affecting the growth of Europe Agrivoltaic Market.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Europe Solar Industry Outlook, By Country, 2018-2022
    1. Installed Capacity vs Power Generation (GW)
    2. Share of Solar in Europe Renewable Energy Mix
    3. Technological Advancements in the Solar Industry
    4. Government Initiatives for Future Industry Development
    5. Others
  5. Europe Agrivoltaic Market Policies, Regulations, Material Type Standards, By Country
    1. Financing, Grants & Funding
    2. Standards
    3. Rules and Regulations
  6. Europe Agrivoltaic Market Trends & Insights
  7. Europe Agrivoltaic Market Dynamics
    1. Drivers
    2. Challenges
  8. Europe Agrivoltaic Market Hotspots & Opportunities
  9. Europe Ongoing Agrivoltaic Projects, By Country
    1. Italy
    2. The Netherlands
    3. France
    4. Germany
    5. Spain
    6. Others
  10. Europe Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement
        1. Standalone- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        2. Shading Nets- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        3. Greenhouse- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        4. Others (Solar Fence, Solar Window, etc.) - Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Cell Type
        1. Monocrystalline- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        2. Polycrystalline- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      3. By Crop Collaboration
        1. Vegetables- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        2. Fruit- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        3. Crop- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        4. Others (Herbs, etc.) - Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      4. By Type of Solar Panel
        1. Opaque- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        2. Semi-Transparent- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        3. Transparent
      5. By Power Output
        1. Upto 10 KWh- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        2. 10.1 to 50 KWh- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
        3. More Than 50 KWh- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      6. By Country
        1. The UK
        2. France
        3. Germany
        4. The Netherlands
        5. Italy
        6. Spain
        7. Ireland
        8. Rest of the Europe
      7. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
  11. The UK Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Crop Collaboration- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
  12. France Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Crop Collaboration- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
  13. Germany Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Crop Collaboration- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
  14. The Netherlands Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Crop Collaboration- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
  15. Italy Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Crop Collaboration- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
  16. Spain Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Crop Collaboration- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
  17. Ireland Agrivoltaic Market Outlook, 2018-2028F
    1. Market Size & Outlook
      1. Revenues (USD Million)
      2. By Installed Capacity (Mega Watt)
    2. Market Share & Outlook
      1. By Placement- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
      2. By Crop Collaboration- Market Size & Forecast 2018-2028F, Installed Capacity (MW)
  18. Europe Agrivoltaic Market Key Strategic Imperatives for Growth & Success
  19. Competitive Benchmarking
    1. Company Profiles
      1. Enel Green Power
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Engie
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Sun Agri
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. GreenYellow
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. REM Tec
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Kilowattsol
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Trina Solar
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Altergie
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. TDK Electronics
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. SunEwat Business Description
        1. Product Portfolio
        2. Strategic Alliances or Partnerships
        3. Recent Developments
        4. Financial Details
        5. Others
      11. Akuo Energ Business Description
        1. Product Portfolio
        2. Strategic Alliances or Partnerships
        3. Recent Developments
        4. Financial Details
        5. Others
      12. Others (Next2Sun, Falick Renewables, etc.)
  20. Disclaimer


Europe Agrivoltaic Market Segmentation