Israel Solar Energy Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Israel Solar Energy Market Analysis
The Israeli solar energy market is expected to register a CAGR of 5% during the forecast period (2022-2027).
The market was negatively affected by COVID-19 due to disruptions in the supply chain. However, the market rebounded in 2021.
- In the long-term, the rigorous involvement of the Israeli government to encourage people to install solar PV panels on rooftops and other initiatives to boost solar power installed capacity may increase the adoption of solar energy systems at the domestic level, which may further drive the Israeli solar energy market.
- However, factors such as the lower participation of local private companies investing in the country's solar energy business segment are expected to restrain the growth of the Israeli solar energy market.
- The Israeli government has planned to shut down its coal-fired projects and promote the use of renewable energy. The government aims to install 17GW of solar power by 2030, which is expected to create several future opportunities for the Israeli solar energy market.
Israel Solar Energy Market Trends
This section covers the major market trends shaping the Israel Solar Energy Market according to our research experts:
Solar Photovoltaic (PV) to Dominate the Market
- In 2021, the renewable energy generation in Israel was 5.7 TWh, which was almost a 30% increase from 2020. Similarly, solar energy generation was 95% of the total renewable energy generation in 2021.
- The capacity deployment of solar energy in the country was 2,300 MW at the end of 2021. The capacity deployment is expected to reach 9800 MW by 2025 and 17,145 MW by 2030 due to factors such as the announcement of upcoming solar projects in the country and the completion of projects under development.
- For instance, in January 2022, Enlight Renewable Energy Ltd (Enlight Renewable) announced an investment of around USD 228.027 million in the Israel Solar PV Park 2 project with a capacity of 82 MW. The project will begin commercial operations by July 2023.
- The Ministry of Energy, Israeli, is focusing on formulating a roadmap for 2030 to deploy and run renewable energy and preparing five inter-ministerial teams to achieve renewable energy goals. This development will expedite the deployment of solar energy in Israel.
- Therefore, owing to the ambitious targets, the solar photovoltaic (PV) segment is likely to dominate the Israeli solar energy market during the forecast period.
Increasing Solar Energy Installations to Drive the Market
- The government of Israel has planned to increase its renewable energy generation to 17% of the total energy generation by 2030.
- In 2022, installations of solar energy systems increased amid soaring electricity prices. There was an increase of 18% in rooftop solar in private houses. In 2021, around 4,500 systems were installed.
- In 2022, the Ministry of Energy, Israel, emphasized installing solar panels on residential buildings and connecting them further to the national electricity grid. A not-for-profit organization named Sun for Everyone took the initiative and made significant efforts to accelerate solar rooftops in residential buildings.
- However, the Ministry of Energy, Israel, is well aware of the challenges of deploying solar rooftops since multi-occupant buildings share several small roofs, as it is challenging to convince all households to install solar rooftop systems. Nevertheless, the Ministry is taking several steps to support Israel in achieving a clean energy transition.
- Hence, owing to such factors and increasing solar energy installations, the Israeli solar energy market is expected to grow further during the forecast period.
Israel Solar Energy Industry Overview
The Israeli solar energy market is consolidated. Some of the key players in the market include (in no particular order) Shikun & Binui Ltd, BrightSource Energy Inc., EDF Renewables, BELECTRIC Solar & Battery GmbH, and Solar Renewable Energies.
Israel Solar Energy Market Leaders
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Shikun & Binui Ltd
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BrightSource Energy, Inc
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EDF Renewables
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BELECTRIC Solar & Battery GmbH
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Solaer Renewable Energies
*Disclaimer: Major Players sorted in no particular order
Israel Solar Energy Market News
- In December 2022, in line with Israel's target to double solar capacity by 2025, Marom Energy announced plans to build Israel's first solar power plant on privately held Bedouin land. The project's construction will begin in southern Israel's Negev Desert in 2023, and it will get established on 150 acres of land.
- In October 2022, Belectric received an 88 MW of Solar Project for Halutziot solar farm. The construction activities are expected to get completed by 2023. The project was commissioned in 2015 and will require replacement of 180,000 existing modules with 161,000 new high capacity modules.
Israel 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 Israel Solar Energy Installation Capacity Forecast, in MW, till 2027
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 SEGEMENTATIONBY TYPE
5.1 Solar Photovoltaic (PV)
5.2 Solar Thermal
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaborations, and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Key Companies Profile
6.3.1 Shikun & Binui Ltd
6.3.2 Solaer Renewable Energies
6.3.3 EDF Renewables
6.3.4 BELECTRIC Solar & Battery GmbH
6.3.5 Noy Fund
6.3.6 BrightSource Energy Inc.
6.3.7 Siemens
6.3.8 General Electric Company
6.3.9 Kedam Solar
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Israel Solar Energy Industry Segmentation
Solar energy is heat and radiant light from the sun that can be harnessed with technologies such as solar power (used to generate electricity) and solar thermal energy (used for applications such as water heating).
The Israeli solar energy market is segmented by technology into solar photovoltaic (PV) and solar thermal. The market sizing and segment predictions have been based on installed capacity (MW).
Israel Solar Energy Market Research FAQs
What is the current Israel Solar Energy Market size?
The Israel Solar Energy Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in Israel Solar Energy Market?
Shikun & Binui Ltd, BrightSource Energy, Inc, EDF Renewables, BELECTRIC Solar & Battery GmbH and Solaer Renewable Energies are the major companies operating in the Israel Solar Energy Market.
What years does this Israel Solar Energy Market cover?
The report covers the Israel Solar Energy Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Israel Solar Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Israel Solar Energy Industry Report
Statistics for the 2024 Israel Solar Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Israel 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.
