Germany Solar Energy Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Type (Solar Photovoltaic, Solar Thermal and Concentrated Solar Power) and by Application (Power Generation and Heating)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

6.12 %

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Market Overview

The market for Solar Energy in Germany is expected to grow at a CAGR of more than 6.12% in the forecast period of 2020-2025. Factors such as encouraging government policies, environmental awareness, the government's self-commitment to decrease carbon footprint, and reduction of the cost of imports are contributing to the growth of the market. Along with this, falling solar energy (USD/KW) accompanied by government subsidy is encouraging the public to install solar panels for domestic purposes. However, high installation costs, continuous maintenance, and unreliability of the source are some of the factors that impede the growth of the market.

  • Photovoltaic solar energy has been growing at a significant rate and expected to witness growth with the addition of new power projects and rooftop solar cells with an installed capacity of more than 4 GW, in 2019.
  • The German government according to the agreement of March 2018, as affirmed by the climate cabinet, the government is planning to speed up the growth of renewable energy, to reach a share of 65% renewable electricity by 2030.
  • EnBW, in 2019, is planning a big solar park in Weesow-Willmersdorf in the northeastern region of Brandenburg, which is expected to be the largest solar park in Germany, once completed.

Scope of the report

The Germany solar energy market report include:

Type
Solar Photovoltaic
Solar Thermal
Concentrated Solar Power
Application
Power Generation
Heating

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Key Market Trends

Solar Photovoltaic to Dominate the Market

  • In 2019, Solar cell reached a cost of 2.96 USD/Watt from 8.50 USD/Watt, in 2009. Therefore, to further reduce the price, the government of Germany is heavily investing in the renewable energy sector, with a particular focus on solar energy. Around 90 million euros were invested, in 2018, in the solar energy sector.
  • Germany's solar market surged by 30%, in growth, to close to 4 GW in new installations in 2019 amid falling prices for PV panels. Generation costs of new roof-top solar have also dropped to below 10-euro cents per kilowatt-hour, in 2019.
  • In 2019, EnBW had 70 MW of grid-connected PV capacity in Germany and four more projects, with a total capacity of 25 MW, either under construction or at the planning stage.
  • Hence, with an increase in energy demand and government policies pushing for renewable energy, solar energy is expected to witness a massive growth in the forecast period.

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Reducing Dependence on Fossil Fuel Imports to Drive the Market

  • In 2019, the German government is offering subsidy to reduce imports by acts like - The Renewable Energy Sources Act (EEG), which outlines the support to renewable electricity production, offering a feed-in tariff scheme for plants.
  • Germany has few oil and gas resources to supply its energy consumption demand, and is trying to reduce its dependence upon the imports. The country is trying to transition from fossil fuels to renewable energy.
  • Germany is set to disconnect the last of its nuclear reactors in 2022. The energy demand and supply gap are expected to be filled with renewable energy with a large share taken up by solar energy.
  • Germany imported around 30 billion USD of crude petroleum in 2018. In 2019, more than 40% of the energy demand in the country is depended upon coal and gas. Gas is mostly imported from Norway and Russia.
  • Hence, the government of germany is utilizing acts like subsidy, innovation and laws to reduce the dependence on imports and provide energy security to the country.

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Competitive Landscape

The Germany solar energy market is partially fragmented. The major players include
IBC SOLAR AG, Centrotherm International AG, SunPower Corporation, Schott Solar Inc and Hanwha Q Cells Co. Ltd.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Germany Solar Energy Installed Capacity and Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraint

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Solar Photovoltaic

      2. 5.1.2 Solar Thermal

      3. 5.1.3 Concentrated Solar Power

    2. 5.2 Application

      1. 5.2.1 Power Generation

      2. 5.2.2 Heating

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Solarworld AG

      2. 6.3.2 Centrotherm International AG

      3. 6.3.3 SunPower Corporation

      4. 6.3.4 Schott Solar Inc.

      5. 6.3.5 Hanwha Q Cells Co., Ltd.,

      6. 6.3.6 IB Vogt GmbH

      7. 6.3.7 Energie Baden-Württemberg AG

      8. 6.3.8 IBC SOLAR AG

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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