The solar energy market share in the Czech Republic is expected to increase by 1.74 terawatt-hour units from 2021 to 2026, at a CAGR of 6.45%.
This solar energy market in the Czech Republic research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the solar energy market in the Czech Republic segmentation by product (grid-connected and off-grid) and end User (utility and rooftop). The solar energy market in Czech Republic report also offers information on several market vendors, including Abengoa SA, Canadian Solar Inc., EKOTECHNIK Czech s.r.o., First Solar Inc., KYOCERA Corp., Photon Energy NV, Sharp Corp., Solar Global Service a.s., SOLARTEC HOLDING a.s., and SVP SOLAR s.r.o. among others.
What will the Solar Energy Market Size in the Czech Republic be During the Forecast Period?
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Solar Energy Market in Czech Republic: Key Drivers, Trends, and Challenges
The increasing developments in the implementation of renewable energy are notably driving the solar energy market growth in the Czech Republic, although factors such as intermittency in solar power generation may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the solar energy industry in the Czech Republic. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Solar Energy Market Driver in Czech Republic
One of the key factors driving the solar energy market growth in the Czech Republic is the increasing developments in the implementation of renewable energy. Improvement in energy efficiency has played a vital role in balancing the energy supply and demand. According to the IEA, the share of renewables in global electricity production was 23.9% in 2017 and is expected to reach 29.4% by 2023. Installed renewable power generation capacity has gained pace over the past few years, with a CAGR of 17.33% during FY 2016-2020. With the increased support of the government and improved economics, the sector has become attractive from an investor’s perspective. Moreover, the Czech Republic is planning to increase the share of renewables to 22% by 2030. By 2030, the Czech Republic is committed to increasing the share of renewables in gross final consumption to 22% as a part of its contribution to the EU-wide target of 32%, which will further support the market growth during the forecast period.
Key Solar Energy Market Trend in Czech Republic
Another key factor driving the solar energy market growth in the Czech Republic is the advances in thin-film solar PV modules. CIGS thin films can be easily fabricated on flexible substrates that make them light in weight. Thus, CIGS thin films have the potential to reduce device fabrication and installation costs. The high conversion efficiency ratings motivate researchers to explore chalcogenide materials for the industrial-scale production of solar PV modules. An efficiency of 20.4% for potassium fluoride post-deposition-treated (KF-PDT) CIGS devices fabricated over flexible polyimide substrates was reported that is highest for flexible CIGS solar cells. After discovering the beneficial effects of heavy alkali doping, the performance of CIGS solar cells was boosted by over 20%. Such advances in thin-film technologies will further support the growth of the market in focus during the forecast period.
Key Solar Energy Market Challenge in Czech Republic
One of the key challenges to the solar energy market growth in the Czech Republic is the intermittency in solar power generation. The solar PV output is not continuous and depends on several factors such as the degree of shade, panel efficiency, and solar irradiation that changes over the duration of the day. Therefore, when the solar panel is not at its peak production, a secondary power system such as a battery, wind power, a hybrid generator, or grid power is needed to provide power that requires additional investment. In addition, during the night, solar panels do not function due to the lack of sunlight. Therefore, solar power systems can generate power effectively for approximately 12 hours a day. Furthermore, rainy and cloudy weathers also affect the generation of solar power. Although solar power technology is constantly evolving, the conversion rate cannot match fossil fuels, which is expected to challenge the growth of the solar energy market in the Czech Republic during the forecast period.
This solar energy market in the Czech Republic analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the solar energy market in the Czech Republic as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the solar energy market in the Czech Republic during the forecast period.
Who are the Major Solar Energy Market Vendors in Czech Republic?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Abengoa SA
- Canadian Solar Inc.
- EKOTECHNIK Czech s.r.o.
- First Solar Inc.
- KYOCERA Corp.
- Photon Energy NV
- Sharp Corp.
- Solar Global Service a.s.
- SOLARTEC HOLDING a.s.
- SVP SOLAR s.r.o.
This statistical study of the solar energy market in the Czech Republic encompasses successful business strategies deployed by the key vendors. The solar energy market in the Czech Republic is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
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Canadian Solar Inc - The company offers solar energy products such as solar plants.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The solar energy market in the Czech Republic forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Solar Energy Market in Czech Republic Value Chain Analysis
Our report provides extensive information on the value chain analysis for the solar energy market in the Czech Republic, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global renewable electricity market includes the following core components:
- Inputs
- Electricity generation
- Electricity transmission
- Electricity distribution
- End-users
- Innovation
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
What are the Revenue-generating Product Segments in the Solar Energy Market in Czech Republic?
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The solar energy market share growth in the Czech Republic by the grid-connected segment will be significant during the forecast period. The growth is attributed to the increasing cross-border interconnection between Germany and the Czech Republic, which is leading to the up-gradation of the grid with smart elements accommodating it for the further integration of renewable energy sources and the ongoing decentralization of energy systems.
This report provides an accurate prediction of the contribution of all the segments to the growth of the solar energy market size in Czech Republic and actionable market insights on post COVID-19 impact on each segment.
You may be interested in:
Ukraine Solar Energy market - The market share is expected to increase by 932.10 megawatts from 2021 to 2026, at a CAGR of 9.61%.
Japan Solar Energy market - The market share is expected to increase by 505.28 terawatt-hours from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 29.78%.
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Solar Energy Market Scope in Czech Republic |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 6.45% |
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Market growth 2022-2026 |
1.74 TWh units |
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Market structure |
Fragmented |
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YoY growth (%) |
9.07 |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Abengoa SA, Canadian Solar Inc., EKOTECHNIK Czech s.r.o., First Solar Inc., KYOCERA Corp., Photon Energy NV, Sharp Corp., Solar Global Service a.s., SOLARTEC HOLDING a.s., and SVP SOLAR s.r.o. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Solar Energy Market in Czech Republic Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive solar energy market growth in the Czech Republic during the next five years
- Precise estimation of the solar energy market size in the Czech Republic and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the solar energy industry in the Czech Republic
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the solar energy market vendors in the Czech Republic
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