Switzerland Solar Energy Market Size

Switzerland Solar Energy Market Analysis

The Swiss solar energy market is expected to register a CAGR of around 5.1% during the forecast period. With the COVID-19 pandemic in 2020, the Swiss solar energy market did not witness any significant impact. Many countries ramped up solar panel production and installations, with several projects put into operation during Q3 and Q4. However, in H1 of 2020, the industry witnessed a disturbance in the supply chain and a slowdown in several projects. Factors such as the growing concerns about increasing carbon emissions have driven government bodies in Switzerland to launch various policies regarding the development of renewable energy. The policies have been providing a significant boost to the growth of the solar energy market in Switzerland and are major drivers of the market studied. The solar power sector is facing challenges from alternate sources of electricity, mainly wind power. As power generation from wind resources is also a clean mode of energy production, the growing adoption of the same is expected to hamper the demand for solar power. This factor, in turn, is expected to hinder the growth of the market studied.

• The solar photovoltaic (PV) based solar panels represent the largest segment of the Swiss solar energy market due to the increasing commercial and residential installations of solar modules.
• The Swiss government announced in 2019 that it would achieve net-zero greenhouse gas emissions by 2050. The Swiss government has been taking numerous steps to drive the country toward the target. Hence, such a scenario is expected to create opportunities for the solar energy players to implement more projects in the country.
• The solar industry has cut costs dramatically in the past five years through economies of scale. As the market was flooded with equipment, prices plummeted. The cost of solar panels is dropping exponentially.