Italy Solar Rooftop Market Size, Share, Opportunities, And Trends By Component (Module, Inverter, Others), By End-User (Residential, Commercial And Industrial), And By Region - Forecasts From 2023 To 2028
- Published : Jun 2023
- Report Code : KSI061615435
- Pages : 89
Solar rooftops are increasingly becoming popular as it is a renewable energy source. These are ideal for harnessing the sun’s energy as it converts it into electric power. It can be done by adding an interface which is known as an inverter that converts DC power generated by the solar panels on the rooftop into AC power for appliances and devices. Furthermore, three types of solar systems are considered when installing on the rooftops – On-grid systems allow power to be used from the grid supply when the rooftop solar system cannot supply power. An off-grid system is not linked to the rooftop solar system. It runs on its own via battery which is then used to power various applications. Hybrid systems work in both on-grid and off-grid systems. In this type of system when the battery is fully charged the excess power is fed to the grid which becomes profitable for the consumer.
An increase in demand for clean and government initiatives are expected to boost the global solar rooftop market.
According to the international renewable energy agency, through solar energy 24,954 GWh of electricity was produced in 2020. It is the second most popular source of electricity generation after hydro and marine energy. Hence, government initiatives are being launched by the Italian government to support its citizens and boost the energy and electricity sector, thereby prompting the growth of solar rooftop market in Italy as well. For example, in the 2023 budget allocation, the Italian government, allocated more than more than €21 billion to support the households and businesses struggling with high energy prices. The government of Italy has made electricity and energy their top concerns. By 2030, the national energy and climate strategy has set very aggressive goals for renewable energy, with an objective of reaching 55% of electricity generation and 30% of total energy usage. Consequently, the country’s energy production has also been increasing steadily. For instance, Italy’s energy production in 2020 was 1473.3 TJ. Similarly, Italy generates more than a third of its electrical power from green sources. Additionally, Italy is also the third-largest provider of renewable energy in Europe.
However, despite Italy’s regular initiatives to improve its energy and electricity sector, the country and other European nations are witnessing crucial energy challenges. This has partly been caused due to its reliance on Russia for a majority of its gas imports. It caused high energy prices in the European nations.
Key developments
- In March 2022, Swedish thin-film solar technology specialist Midsummer AB signed a five-year agreement to sell up to 6.5 MW of its CIGS modules per year to Italian roofing company PugliAsfalti. According to the terms of the agreement, PugliAsfalti agreed to sell Midsummer's solar panels to its current and potential clients, primarily in southern Italy, and pay for the order in the amount of EUR 11.7 million (USD 12.9 million) per year for the length of the contract.
- In March 2022, Minister for Agriculture, Food and Forestry Policies of Italy, Stefano Patuanelli signed a new rebate scheme under which € 1.5-billion worth of support was given to the country’s agricultural sector for installing solar rooftop.
The commercial and industrial segment sector is anticipated to account for a sizable percentage of the Italy solar market throughout the anticipated timeframe.
Commercial and industrial segment is anticipated to witness promising growth over the course of the forecast period due to the growth of this segment due to the prevalence of flat roofs in Italy. Flat roofs are an ideal location for solar panel installations because they offer a large, unobstructed space for solar panels to be installed. Compared to sloping roofs, flat roofs are easier and less expensive to install solar panels on as the panels can be installed flush with the roof surface, eliminating the need for complex mounting systems that are required for sloping roofs. Additionally, the panels can be installed in a way that maximizes their exposure to sunlight, which increases their efficiency and energy production. For instance, in 2022, A2A Energia installed a 4.2 MW solar power plant on the rooftop of a shopping center in the Veneto region of Italy. The plant is expected to generate around 5 GWh of electricity per year. Further, the residential segment will witness promising growth due to the growing environmental awareness among Italian households which has led to a greater demand for renewable energy sources, with solar power being one of the most popular choices during the given time frame.
Lombardy is likely to be driven by ongoing investments in the region for the development of novel solar rooftop projects.
Based on region, Italy solar rooftop market is segmented into Apulia, Lombardy, Emilia-Romagna, Veneto, Piedmont, Sicily and others. In Lombardy, in January 2022, Aquila Energy Efficiency announced its partnership with Noleggio Energia for investing in the initiation of two rooftop solar projects in the region. One of the projects included an investment of EUR 350,000 to finance a solar PV rooftop for Galletti di Galletti Aurelio, which is a food product manufacturer located in Lombardy. Another investment of EUR 1.5 million was announced by these players to establish a novel solar PV rooftop plant in Lombardy, in agreement with Tecnocryo. Such heavy investment in the region to establish novel solar rooftop plants are thus expected to drive significant growth in the market.
Italy Solar Rooftop Market Scope:
Report Metric | Details |
Growth Rate | CAGR during the forecast period |
Base Year | 2021 |
Forecast Period | 2023 – 2028 |
Forecast Unit (Value) | USD Billion |
Segments Covered | Component, End-User, and Region |
Regions Covered | Apulia, Lombardy, Emilia-Romagna, Veneto, Piedmont, Sicily, Others |
Companies Covered | Trinar Solar, Iqony Energy Solar Solutions, FuturaSun, Sumpower Corporation, Seraphim, AB Solar Novara Snc, STG Group, AM IMPIANTI of Accarini Srl, REC Solar Holding AS |
Customization Scope | Free report customization with purchase |
Key Market Segments
- By Component
- Module
- Inverter
- Others
- By End-User
- Residential
- Commercial and Industrial
- By Region
- Apulia
- Lombardy
- Emilia-Romagna
- Veneto
- Piedmont
- Sicily
- Others
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ITALY SOLAR ROOFTOP MARKET ANALYSIS, BY COMPONENT
5.1. Introduction
5.2. Module
5.3. Inverter
5.4. Others
6. ITALY SOLAR ROOFTOP MARKET ANALYSIS, BY END-USER
6.1. Introduction
6.2. Residential
6.3. Commercial and Industrial
7. ITALY SOLAR ROOFTOP MARKET ANALYSIS, BY REGION
7.1. Introduction
7.2. Apulia
7.3. Lombardy
7.4. Emilia-Romagna
7.5. Veneto
7.6. Piedmont
7.7. Sicily
7.8. Others
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Trinar Solar
9.2. Iqony Energy Solar Solutions
9.3. FuturaSun
9.4. Sumpower Corporation
9.5. Seraphim
9.6. AB Solar Novara Snc
9.7. STG Group
9.8. AM IMPIANTI of Accarini Srl
9.9. REC Solar Holding AS
Trinar Solar
Iqony Energy Solar Solutions
FuturaSun
Sumpower Corporation
Seraphim
AB Solar Novara Snc
STG Group
AM IMPIANTI of Accarini Srl
REC Solar Holding AS
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