This research estimates the size and trends of the global solar photovoltaic (PV) operation and maintenance (O&M) market as of 2024. The methodology for this work includes segmentation of the global market to multiple countries, with each country having a different ratio of residential, commercial, industrial and utility scale solar installations. The result of this study for 2024 - global solar photovoltaic (PV) market O&M size cap is 29.0 billion USD, composed of distributed (residential and commercial) 13.4 billion USD and centralized (large industrial and utility-scale) 15.6 billion USD segments. The estimate is that by 2025 the global solar PV O&M market would grow to a total of 36.3 billion USD, composed of 17.6 billion USD distributed and 18.7 billion USD centralized solar market segments.
The methodology for this work includes segmentation of the global market to multiple countries, with each country having a different ratio of residential, commercial and utility-scale solar installations. About 30 million solar PV facilities are deployed globally, including different ratios of distributed and centralized solar for each country. By utilizing an estimate of facility size ratios within each country multiplied by annual O&M cost and added together, one can obtain a global estimate of O&M costs. The methodology includes figures for major countries with massive solar deployments from a variety of sources and when unavailable - an estimate is utilized. It is important to emphasize that definitions for the matter of this study for residential scale are <25kWp, commercial is <1MWp, Industrial is <10MWp and utility scale is anything above 10MWp. Different countries apply varying size definitions for those segments, thus for instance in US utility-scale is defined as >5MWp. Hence, the results of this study may somewhat differ from others depending on definitions.
The updated figures for 2023 are that global solar photovoltaic (PV) market O&M size cap was 22.3 billion USD, composed of distributed (residential and commercial) 9.8 billion USD and centralized (large industrial and utility-scale) 12.5 billion USD segments. This is a revision from previously published 2023 estimate of 21.1 billion USD, composed of distributed (residential and commercial) 7.3 billion USD and centralized (large industrial and utility-scale) 11.9 billion USD segments.
The preliminary estimate for 2024 is that global solar PV O&M market would grow to a total of 29.0 billion USD, composed of 13.4 billion USD distributed and 15.6 billion USD centralized solar O&M segments. By 2025, the global solar PV O&M market is estimated to grow to a total of 36.3 billion USD, composed of 17.6 billion USD distributed and 18.7 billion USD centralized solar segments. The rate of PV deployment growth in the rest of the decade is estimated to increase to as much as 1 TWp annual and hence is we should expect a parallel rapid growth in solar O&M market, albeit also a reduction of prices.
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