Market Size of Argentina Solar Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 10.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Argentina's Solar Energy Market Analysis
Argentina's solar energy market is projected to register a CAGR of over 10% during the forecast period.
The market was negatively impacted by the COVID-19 pandemic in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as rising environmental concerns and government policies for solar PV development are expected to mainly drive the market.
- However, insufficient government investments in the renewable sector due to fiscal deficit and lack of finance may restrain the market's growth.
- The Argentinian government initiated the RenovAr program to improve the share of renewable energy in its energy mix to 20% by 2025. Under the RenovAr program, the government held regular public bidding processes, where different companies presented their investment plans. Such factors are likely to create ample opportunities for the key players in the solar energy market.
