Iran Solar Energy Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Iran Solar Energy Market Analysis
The Iranian solar energy market is expected to register a CAGR of 9% during the forecast period.
In 2020, COVID-19 had a moderately negative impact on the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as required weather conditions, vast desert areas, and a good number of sunny days throughout the year are expected to make the country a perfect place to install solar plants and are likely to drive the Iranian solar energy market. And also, upcoming and ongoing projects for achieving Iran's renewable goal are expected to drive the Iranian solar energy market during the forecast period.
- On the other hand, the adoption of other renewable energies such as wind and hydro to generate clean energy is expected to restrain Iran's solar energy market.
- Nevertheless, Iran has the potential to increase its share of renewable energy generation to 16% by 2030. This is likely to create several opportunities for Iran's solar energy market in the future.
Iran Solar Energy Market Trends
Solar Photovoltaic (PV) to Dominate the Market
- The Iranian government is providing a feed-in tariff to attract private companies to invest in the renewable market by offering them long-term contracts based on the cost of electricity generation from each technology. The Iranian government also planned to install 500 megawatts (MW) of new solar energy installations by the end of 2022.
- Iran, due to its vast desert area, has a very high potential for the installation of solar photovoltaic (PV) systems in the future. Iran has an extremely high level of energy consumption per head of population. According to the government of Iran, electricity consumption is estimated to be 80% above average.
- In 2022, around 83 MW of PV systems were installed and commissioned in Iran, reaching a cumulative installed capacity of approximately 539 MW of PV at the end of 2022.
- In May 2022, SATBA, the Iranian organization for renewable energy and energy efficiency, solicited proposals from companies for solar power plants with a combined total capacity of 4 gigawatts throughout the country.
- Therefore, based on the above projects, the solar photovoltaic (PV) segment is likely to dominate the market in the forecast period.
Increasing Solar Energy Installations to Drive the Market
- According to the Iranian government's 6th Development Plan, the government aims to install a renewable capacity of 7,500 MW of renewable energy by 2030. The government has set a target to increase its renewable energy share of electricity production by up to 12% by 2030.
- Furthermore, the government aims to become a net-zero-emission economy by 2050. These policies are likely to increase investment in solar energy projects, which in turn will lead to higher sales of solar PV inverters in the country during the forecast period.
- In September 2022, according to the Iranian energy ministry, solar rooftop electricity increased by 20 MW. And the total rooftop solar capacity of Iran's household sector reached 90 MW.
- In January 2022, to reach the long-term goal of a cumulative renewable capacity of 30 GW, the Iranian Energy Ministry announced plans to install 10 GW of renewable capacity (including conventional hydropower) by the end of 2026.
- Hence, the above points indicate that increasing solar energy installed capacity is expected to drive the Iranian solar energy market in the forecast period.
Iran Solar Energy Industry Overview
The Iranian solar energy market is moderately consolidated. Some of the key players in this market (in no particular order) include JinkoSolar Holding Co. Ltd., Carlo Maresca Spa, Hanau Energies, KPV Solar GmBH, and Yekta Behine Tavan, among others.
Iran Solar Energy Market Leaders
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JinkoSolar Holding Co., Ltd
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Carlo Maresca Spa
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Hanau Energies
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KPV Solar GmbH
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Yekta Behine Tavan
*Disclaimer: Major Players sorted in no particular order
Iran Solar Energy Market News
- January 2023: Iranian authorities submitted a bill to parliament seeking approval for the International Solar Alliance. The International Solar Alliance (ISA) is an action-oriented platform that members drive and that promotes increased deployment of solar energy technologies, in addition to ensuring energy accessibility and security.
- July 2022: The Iranian government inaugurated the country's first solar panel manufacturing plant in Khomein City with a capacity of 500 MW. In a second phase, the manufacturer, Mana Energy Pak Private Limited (MEP Cell), will be able to increase the capacity to 1.5 GW.
Iran Solar Energy Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Iran Solar Energy Installation Capacity Forecast, in Megawatts (MW), till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. MARKET SEGEMENTATION
5.1 Type
5.1.1 Solar Photovoltaic (PV)
5.1.2 Solar Thermal
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Key Companies Profile
6.3.1 Hanau Energies
6.3.2 KPV Solar GmbH
6.3.3 JinkoSolar Holding Co. Ltd.
6.3.4 Carlo Maresca SpA
6.3.5 Yekta Behineh Tavan
6.3.6 Kahkeshan Energy Khorshid
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Iran Solar Energy Industry Segmentation
Solar energy refers to the energy that is harnessed from the sun's light and heat. The sun is a natural source of energy that emits electromagnetic radiation, which can be captured and converted into usable energy using various technologies such as solar panels, solar cells, and solar thermal collectors.
The solar energy market is segmented by type. By type, the market is segmented into solar photovoltaic (PV) and solar thermal. For each segment, market sizing and forecasts have been done based on installed capacity (MW).
Iran Solar Energy Market Research FAQs
What is the current Iran Solar Energy Market size?
The Iran Solar Energy Market is projected to register a CAGR of 9% during the forecast period (2024-2029)
Who are the key players in Iran Solar Energy Market?
JinkoSolar Holding Co., Ltd , Carlo Maresca Spa, Hanau Energies, KPV Solar GmbH and Yekta Behine Tavan are the major companies operating in the Iran Solar Energy Market.
What years does this Iran Solar Energy Market cover?
The report covers the Iran Solar Energy Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Iran Solar Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Iran Solar Energy Industry Report
Statistics for the 2024 Iran Solar Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Iran Solar Energy analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
