Italy solar panel market is estimated to grow considerably at a CAGR of around 15.6% during the forecast period. Italy has a significant market share in the overall market. Italy has a significant market share in the overall market. This can be attributed to the fact that the overall installations of solar panels in Italy are significantly high. The country has witnessed significant growth in the solar industry in the past years. According to IRENA, Italy witnessed a total of around 85% solar panel installation growth during 2006-2018. The country had a total installed capacity of 20,120 MW by the end of 2018. It observed an overall growth of 2.2% by the end of 2018 as compared to that of 2017. The Italian government issued a National energy strategy in 2017, the objective of this strategy was to make the energy sector more competitive and increase the emphasis on the use of renewable energy.
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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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Italy 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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