Agrivoltaics Market Share Expansion Expected to Climb to USD 7.96 Billion by 2030

The Agrivoltaics Market Share was valued at USD 4.03 billion in the year 2023, and it is expected to reach USD 7.96 billion by 2030, registering an impressive CAGR of 10.2% over the forecast period. The increasing demand for renewable energy and sustainable agriculture are the main drivers of this growth.

Increased Demand for Services and Market Driving Forces

Agrivoltaics is a land-sharing concept where land can be used for photovoltaics, and together with agriculture generates a dual-revenue benefit for energy producers and farmers. It comes as countries around the world seek renewable energy sources but also feel pressure to secure food for citizens. This approach maximise land use and improves land productivity due to provision of shade and reduced water evaporation by combining solar panels with crop cultivation. Recent elevating technology has ameliorated the efficiency and cost-effectiveness of agrivoltaic systems. Advances in photovoltaic materials and system designs have achieved higher energy conversion efficiencies and lower installation costs. In addition to this, government support and policies encouraging renewable energy have driven the market even more. 

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Segmentation Analysis

The segmentation of the agrivoltaics market involves system design, cell type, crop type, and region.

System Design: Different system designs are available in the market like fixed solar panels and dynamic/tracking solar panels. Presently, fixed solar panels hold a greater market share as those are simpler to design and cheaper to install. On the other hand, dynamic systems that pivot panels to track the sun and thus are more efficient and occupy less land area, are increasingly becoming popular.

Cell Type: This market is divided into various photovoltaic cell types such as monocrystalline, polycrystalline, and thin-film cells. Monocrystalline cells are the best choice for largescale applications of agrivoltaics, due to their planting density and efficiency, as well their long life span.

Crop Type: Agrivoltaic systems can be suited for different types of crops. Microclimates formed by solar panels help plants like leafy greens, root vegetables and some berrying plants to perform exceptionally well. The option of pollution depends on the regional agricultural practices and climatic conditions.

Country-Level Analysis

USA: The USA Agrivoltaics markets has been growing significantly due to large solar installations and creative designs combining agriculture with power generation. The market in 2024 was USD 323.6 million and is expected to USD 721.4 million by 2031 with a CAGR of 11.6 %. This is ensuring a favourable business climate through collaborative efforts among energy companies, local communities, and farmers, as well as positive regulatory frameworks. The National Renewable Energy Laboratory (NREL) validated more than 560 sites with a total of over 10,000 MW of solar capacity in the U.S. in 2024.

Germany: Being one of the early adopters of renewable energy, Germany is one of the first countries to take agrivoltaics into action to practice land use optimization along with the energy transition goal. Especially with the help of the benevolent government policies and investment many agrivoltaic projects have already established enhancing both energy generation and agricultural attainment.

China: As China enjoys rapid solar growth, agrivoltaics have also been included in the systems where gently sloped farmland is available. This method supplements the domestic renewable energy goals but also safeguards food security.

Italy: Major agrivoltaic projects across the country, mainly incentivized through governmental schemes designed to cut greenhouse gas emissions and raise the share of renewables. Reflecting Italy's commitment to sustainable energy solutions, the European Commission approved a super-sized $1.85 billion Italian plan to promote agrivoltaic systems.

Japan: Japan has already started looking into the procedure of agrivoltaics to improve energy independence and assist neighboring farms. In a nation where land is scarce, however, creative combinations of solar energy generation and agriculture that save space have been born.

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Competitor Analysis

The agrivoltaics market is very competitive with the presence of the top players who focus on innovating new technologies and partnering aimed at every aspect of the market. Notable companies include:

Sustainable agriculture with energy production: Enel Green Power S.p.A.'s approach as a leader in renewable energy

BayWa AG —This company specializes in various solar energy solutions, including its investment in agrivoltaic systems, particularly in Europe, helping to implement agricultural activities alongside the generation of solar energy on essential farmland.

Next2Sun Technology GmbH: Next2Sun is a provider of vertical bifacial agrivoltaic systems, demostrating ways to optimize the land and realize better agricultural and energy performance.

Insolight SA: This Swiss company has its own high-efficiency photovoltaic (PV) modules on the market and is also happy to work with agricultural stakeholders to adapt agrivoltaic systems to specific crop needs.

Ombrea: This French company offers dynamic shading systems that can shelter crops from climatic extremes, combined with solar energy production.

They are among the key players spearheading agrivoltaic advancements to further grow the market with continuous research and development.

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Conclusion

You will see a considerable rise in the agrivoltaics market which is similar to renewable energy plus sustainable agriculture and will be the Call of the Day. Solar PV is expected to be an increasingly viable solution to combine land for more intensive production of both agricultural and solar energy as technology continues to improve and enabling policy is in place, something which significantly increases a key factor in food security as well as meeting increasing global energy needs. This is an emerging area where unique partnerships can provide win–win scenarios for both the energy and agricultural sectors, so stakeholders are invited to identify opportunities to collaborate in this space.

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