Iran Solar Energy Market Size (2024 - 2029)

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 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).