Market Size of Israel Solar Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Israel Solar Energy Market Analysis
The Israeli solar energy market is expected to register a CAGR of 5% during the forecast period (2022-2027).
The market was negatively affected by COVID-19 due to disruptions in the supply chain. However, the market rebounded in 2021.
- In the long-term, the rigorous involvement of the Israeli government to encourage people to install solar PV panels on rooftops and other initiatives to boost solar power installed capacity may increase the adoption of solar energy systems at the domestic level, which may further drive the Israeli solar energy market.
- However, factors such as the lower participation of local private companies investing in the country's solar energy business segment are expected to restrain the growth of the Israeli solar energy market.
- The Israeli government has planned to shut down its coal-fired projects and promote the use of renewable energy. The government aims to install 17GW of solar power by 2030, which is expected to create several future opportunities for the Israeli solar energy market.
