Germany solar panel market is estimated to grow considerably, at a CAGR of around 15.3%, during the forecast period. Germany has a considerable market share in the global solar panel market, due to increasing environmental issues and a rise in the adoption of solar panel technology for an eco-friendly environment. Germany is the largest European trading partner of the US and the sixth-largest market for the export of goods to the US as per Export.gov. In terms of installations, Germany witnessed a total installation of 45,277 MW in 2018. It witnessed a growth of around 6% as compared to 2017 as per the International Renewable Energy Agency. As the overall solar panel installation increases, it is expected to create opportunities for the growth of the market in the future. The nation’s largest solar farms are in Meuro, Neuhardenberg, and Templin, with capacities 166 MW. On the other hand, as expensive peak power plants are relocated, the price at the power exchange is reduced due to the so-called merit order effect. In April 2015, Germany set a world record for solar power production with 25.8 GW produced.
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The solar panel market is segmented on the basis of solar panel technology and end-user. Based on solar panel technology, the market is segmented into monocrystalline silicon solar panel, polycrystalline silicon solar panel, thin-film solar panel, and others. Among these, the polycrystalline silicon solar panel contributes a significant share in the market, attributed to its advantages over other solar panels such as cost-effective and better efficiency. Based on end-user, the market is segmented into the household sector and the corporate sector. The corporate sector held a substantial share in the market in 2018. This is due to the high installation of solar panels in the corporate sector consisting of government projects and industrial general electricity applications.
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Germany Solar Panel Market Segmentation
By Technology
- Monocrystalline Solar Panel
- Polycrystalline Solar Panel
- Thin-Film Crystalline Solar Panel
- Other Solar Panels
By End-User
- Household Sector
- Corporate Sector
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