Solar Panel Mounting Structures Market Trends

Growth Drivers

• Surge in the demand for floating solar panels - With the increasing global population along with the growing economies, there is also an increasing energy demand. The increased demand for such energy creates a highly positive market environment for the geothermal energy sector, as it can provide a reliable and affordable source of energy. According to a report, global consumption increased by 69% owing to the increasing population by 47% from 1990 to 2020.
  
  Furthermore, floating solar panels are in high demand on floating construction sites such as rafts or pontoons that are fastened to the ground, where they are built. This kind of solar panel mounting structures method is getting more common since it makes it possible to generate solar power using water bodies like lakes, reservoirs, irrigation canals, and much more particularly in nations with limited land resources.
• Growing implementation of smart solar panel mounting systems - Solar power systems may be monitored and managed in real-time with the help of sensors, communication devices, electronics & smart devices, and software found in smart and connected solar panel mounting systems. It is feasible to maximize power generation, enhance energy efficiency, and lower maintenance costs with this kind of technology.
  
  Furthermore, it is easier to incorporate smart panel systems into the current infrastructure due to developments in IoT technology and connection. This has increased the landscape potential and increased user accessibility for smart solar panel mounting structures.
• Growing need for increased solar power generation capacity - The need for increasing solar power generation capacity leads to a rise in the number of solar power plant construction in various nations. Mounting structures play an essential role in ensuring the capacity and efficiency of the solar PV modules as the solar cell’s temperature and sunlight captivity are dependent on them.
  
  With an increase in large-scale solar projects, the focus is on solar panels mounting structures. As per a report, by the end of 2020, there will be 52 large-scale solar farms under construction, indicating that the large-scale solar industry is likely to grow rapidly in the next years. Therefore, the surge in the demand for increased solar power generation capacity is escalating the solar panel mounting structures market growth.

Challenges

• Complexity of installation and maintenance of solar panel mounting structures- For optimal alignment and stability, solar panel mounting systems need to be carefully designed, engineered, and installed. Along with this, regular maintenance is also required to maximize energy production and keep structures in excellent shape. For certain users, this can be costly and time-consuming.
• High initial installation costs may hinder the growth of the solar panel mounting structures market share
• The sporadic nature of sunlight may affect energy production