The global solar EPC market was valued at $0.4 trillion in 2024, and is projected to reach $1.2 trillion by 2034, growing at a CAGR of 11.9% from 2025 to 2034.
Solar EPC (Engineering, Procurement, and Construction) is a project delivery model in the solar energy sector where a single contractor is responsible for the entire process of setting up a solar power plant. This includes the detailed design and engineering of the system, procurement of all necessary components like solar panels, inverters, and mounting structures, and construction activities such as installation, testing, and commissioning. The EPC contractor ensures the project is delivered on time, within budget, and in compliance with technical and regulatory standards. This model simplifies execution by offering a single point of accountability, reducing risks for the project owner. Solar EPC services are used in utility-scale, commercial, and residential solar installations worldwide.
The foremost driver of the solar EPC market is the increasing support from governments worldwide through policy frameworks, subsidies, and regulatory incentives. Countries have recognized solar energy as a vital component in the transition to low-carbon economies. Government policies such as tax credits (e.g., the Investment Tax Credit in the U.S.), feed-in tariffs, renewable purchase obligations (RPOs), and net metering have created a robust demand pipeline for solar projects. Additionally, many nations have committed to ambitious targets under international accords such as the Paris Agreement, thereby mandating accelerated deployment of renewable energy infrastructure. This creates a ripple effect across the value chain - governments approve large-scale solar parks, developers propose more projects, and EPC contractors benefit from increased volumes. In India, for example, schemes like PM-KUSUM and the development of solar parks under SECI (Solar Energy Corporation of India) have led to a surge in EPC opportunities. Moreover, the simplification of tendering processes and viability gap funding have improved project bankability, making the EPC segment more lucrative and competitive. Across the globe, similar dynamics are playing out, reinforcing the critical role of public sector initiatives in stimulating EPC market growth.
Another major driver is the significant reduction in the cost of solar technologies, especially photovoltaic (PV) modules, inverters, and balance-of-system components. These cost reductions have made solar power increasingly competitive with conventional energy sources, even in the absence of subsidies. For EPC companies, this has opened up a broader market of financially viable projects, especially in emerging economies. Advances in solar cell technologies such as PERC (Passivated Emitter and Rear Cell), bifacial modules, and higher efficiency thin films allow EPC firms to deliver more power per unit area, improving project economics. Innovations in energy storage,digital monitoring systems, and grid integration also enhance the performance and reliability of solar plants, making them more attractive to utilities and investors. Additionally, the rise of standardized engineering templates and prefabrication in procurement and construction stages has shortened project timelines and reduced risks, making EPC offerings more predictable and scalable. As technology improves, EPC contractors can design and execute projects with greater precision, ensuring optimal alignment with customer expectations and regulatory norms.
The global solar EPC market is segmented on the basis of technology, installation type, size, end-use, and region. By technology, the market is segmented into photovooltaic solar and concentrated solar power. Depending on installation type, the market is classified into rooftop, ground mounted, and floating. As per size, the market is divided into small (up to 1 MW), medium (1 to 10 MW), and large (more than 10 MW). By end-use, the solar EPC market is segmented into residential, commercial and industrial, and utility. Region-wise, the global EPC market is classfied into North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the report are Jinko Solar Holding Co. Ltd., JA Solar Holdings Co. Ltd., Hanwha Solutions, First Solar, Inc., Trina Solar Limited., Larsen & Toubro, Canadian Solar, Yingli Green Energy Holding Company Limited, SolarEdge Technologies, Inc., SunPower Corporation.
Solar EPC (Engineering, Procurement, and Construction) is a project delivery model in the solar energy sector where a single contractor is responsible for the entire process of setting up a solar power plant. This includes the detailed design and engineering of the system, procurement of all necessary components like solar panels, inverters, and mounting structures, and construction activities such as installation, testing, and commissioning. The EPC contractor ensures the project is delivered on time, within budget, and in compliance with technical and regulatory standards. This model simplifies execution by offering a single point of accountability, reducing risks for the project owner. Solar EPC services are used in utility-scale, commercial, and residential solar installations worldwide.
The foremost driver of the solar EPC market is the increasing support from governments worldwide through policy frameworks, subsidies, and regulatory incentives. Countries have recognized solar energy as a vital component in the transition to low-carbon economies. Government policies such as tax credits (e.g., the Investment Tax Credit in the U.S.), feed-in tariffs, renewable purchase obligations (RPOs), and net metering have created a robust demand pipeline for solar projects. Additionally, many nations have committed to ambitious targets under international accords such as the Paris Agreement, thereby mandating accelerated deployment of renewable energy infrastructure. This creates a ripple effect across the value chain - governments approve large-scale solar parks, developers propose more projects, and EPC contractors benefit from increased volumes. In India, for example, schemes like PM-KUSUM and the development of solar parks under SECI (Solar Energy Corporation of India) have led to a surge in EPC opportunities. Moreover, the simplification of tendering processes and viability gap funding have improved project bankability, making the EPC segment more lucrative and competitive. Across the globe, similar dynamics are playing out, reinforcing the critical role of public sector initiatives in stimulating EPC market growth.
Another major driver is the significant reduction in the cost of solar technologies, especially photovoltaic (PV) modules, inverters, and balance-of-system components. These cost reductions have made solar power increasingly competitive with conventional energy sources, even in the absence of subsidies. For EPC companies, this has opened up a broader market of financially viable projects, especially in emerging economies. Advances in solar cell technologies such as PERC (Passivated Emitter and Rear Cell), bifacial modules, and higher efficiency thin films allow EPC firms to deliver more power per unit area, improving project economics. Innovations in energy storage,digital monitoring systems, and grid integration also enhance the performance and reliability of solar plants, making them more attractive to utilities and investors. Additionally, the rise of standardized engineering templates and prefabrication in procurement and construction stages has shortened project timelines and reduced risks, making EPC offerings more predictable and scalable. As technology improves, EPC contractors can design and execute projects with greater precision, ensuring optimal alignment with customer expectations and regulatory norms.
The global solar EPC market is segmented on the basis of technology, installation type, size, end-use, and region. By technology, the market is segmented into photovooltaic solar and concentrated solar power. Depending on installation type, the market is classified into rooftop, ground mounted, and floating. As per size, the market is divided into small (up to 1 MW), medium (1 to 10 MW), and large (more than 10 MW). By end-use, the solar EPC market is segmented into residential, commercial and industrial, and utility. Region-wise, the global EPC market is classfied into North America, Europe, Asia-Pacific, and LAMEA.
The key players analyzed in the report are Jinko Solar Holding Co. Ltd., JA Solar Holdings Co. Ltd., Hanwha Solutions, First Solar, Inc., Trina Solar Limited., Larsen & Toubro, Canadian Solar, Yingli Green Energy Holding Company Limited, SolarEdge Technologies, Inc., SunPower Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar epc market analysis from 2024 to 2034 to identify the prevailing solar epc market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the solar epc market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global solar epc market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly update with the purchase of an enterprise license.
- 5 additional company profiles of your choice, pre- or post-purchase, as a free update.
- Free version update with the purchase of an Enterprise User License.
- 16 hours of analyst support.
- 15% free customization (Equivalent to 3 working days of work, applicable once).
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- Free updated report if the report is 6-12 months old or older.
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- Free industry updates and white papers.
Further possible customization (additional cost and timeline):
- Industry life cycle assessment, by region
- Installed Base analysis
- Investment Opportunities
- Upcoming/New Entrant by Regions
- Technology Trend Analysis
- Patient/epidemiology data at country, region, global level
- Regulatory Guidelines
- Strategic Recommendations
- Additional company profiles with specific to client's interest
- Additional country or region analysis - market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- SWOT Analysis
Key Market Segments
By End-Use
- Residential
- Commercial and Industrial
- Utility
By Technology
- Photovoltaic Solar
- Concentrated Solar Power
By Installation Type
- Rooftop
- Ground Mounted
- Floating
By Size
- Small (up to 1 MW)
- Medium (1 to 10 MW)
- Large (More than 10 MW)
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Jinko Solar Holding Co. Ltd.
- JA Solar Holdings Co. Ltd.
- Hanwha Solutions
- First Solar, Inc.
- Trina Solar Limited.
- Larsen & Toubro
- Canadian Solar
- Yingli Green Energy Holding Company Limited
- SunPower Corporation
- SolarEdge Technologies, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SOLAR EPC MARKET, BY TECHNOLOGY
CHAPTER 5: SOLAR EPC MARKET, BY INSTALLATION TYPE
CHAPTER 6: SOLAR EPC MARKET, BY SIZE
CHAPTER 7: SOLAR EPC MARKET, BY END-USE
CHAPTER 8: SOLAR EPC MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Jinko Solar Holding Co. Ltd.
- JA Solar Holdings Co. Ltd.
- Hanwha Solutions
- First Solar, Inc.
- Trina Solar Limited.
- Larsen & Toubro
- Canadian Solar
- Yingli Green Energy Holding Company Limited
- SunPower Corporation
- SolarEdge Technologies, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 344 |
| Published | June 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 0.4 trillion |
| Forecasted Market Value ( USD | $ 1.2 trillion |
| Compound Annual Growth Rate | 11.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
