Summary

Overview
Global Agrivoltaics Market reached US$ 4.32 billion in 2024 and is expected to reach US$ 8.41 billion by 2032, growing with a CAGR of 8.68% during the forecast period 2025-2032.
Agrivoltaics or farming or ranching with solar panels, is gaining popularity around the world since suitable solar land becomes scarce. An agrivoltaics array is normally built above 8 feet to allow agricultural to continue beneath it, generating cash from solar while maintaining the land's original purpose. Solar panels installed above fields have been shown to reduce water evaporation from the soil. Crop efficiency increased as the soil retained moisture and nourishment. Furthermore, growing vegetation on grazing area covered with rooftop solar panels encourages healthy and efficient plant growth. In addition, the power provided by the panels generates cash for the farmer.
In accordance to the United Nations, the global population is anticipated to reach 8.5 billion by 2030 and 9.7 billion by 2050. This will create varied levels of uncertainty throughout the world. Humans will encounter several major obstacles, including the quest for food and land. Furthermore, the need for primary energy will expand significantly. There is a need to explore for choices that will produce the best results while posing no damage to the environment. Agrivoltaics provides the ideal option. Studies have demonstrated that employing agrivoltaics systems improves soil efficiency in agricultural output. Furthermore, the power provided by solar panels will help to solve the power issue and reduce reliance on fossil fuels.
Asia-Pacific dominates the worldwide agrivoltaics market as solar modules are increasingly adopted in China, Japan and India. In the region, China is the leading producer of solar modules. It installed 4GW of agrivoltaic capacity in just three years, from 2015 to 2018. The Agrivoltaics Market is quickly expanding across the country as a result of favorable policies and the growing need to broaden domestic energy demand in order to address the issues connected with China's photovoltaic sector overcapacity. As a result, the installation of Agrivoltaics in China is intended to address these overcapacity issues while also encouraging the use of advanced agricultural practices throughout the country.
Dynamics
Rising Water Scarcity
With increasing water shortages and the accelerated effects of climate change, agrivoltaic systems based on monocrystalline solar panels are emerging as a viable alternative for food and energy security. The devices reduce water evaporation, improve crop resilience and generate clean energy, making them critical to climate-smart agriculture. Water pumps and irrigation systems are powered by monocrystalline solar panels, which replace diesel pumps and ensure a sustainable water supply. Under the PM-KUSUM program, agrivoltaic farms in Rajasthan and Maharashtra use solar-powered drip irrigation to reduce water waste and increase farm productivity by 25%.
With increasing water shortages and the accelerated effects of climate change, agrivoltaic systems based on monocrystalline solar panels are emerging as a viable alternative for food and energy security. The devices reduce water evaporation, improve crop resilience and generate clean energy, making them critical to climate-smart agriculture. Researchers at the University of Arizona discovered that agrivoltaic farms utilizing monocrystalline panels cut watering needs by 30% for crops such as chili peppers and cherry tomatoes.
Rising Government Subsidies and Support
Governments around the world are increasingly supporting monocrystalline agrivoltaics with subsidies, tax credits, feed-in tariffs and financial incentives. The regulations seek to increase renewable energy adoption, agricultural sustainability and climate resilience, hence making agrivoltaic projects more economically viable for farmers and investors.
The U.S. Office of Energy Efficiency and Renewable Energy has established the Foundational Agrivoltaics Research for Megawatt Scale (FARMS) Funding Program, which provides new economic prospects for farmers, rural communities and the solar sector. The US Department of Energy's Solar Energy Technologies Office (SETO) notified the US$ 8 million FARMS funding opportunity on May 5, 2022 and the six chosen projects on December 8, 2022.
The selected projects will conduct impact studies to investigate the influence of agrivoltaics designs on both agricultural and energy production, as well as integrate agrivoltaics into existing solar farms and provide resources to lower entry barriers to agrivoltaics. Furthermore, the experimental projects will assist project partners with agricultural extensions and educate farmers about agrivoltaics methods.
High Investment Costs
One of the most significant obstacles in monocrystalline agrivoltaics is the large initial expenditure necessary for solar panel installation, mounting structures, energy storage and grid integration. Compared to traditional farming or freestanding solar farms, agrivoltaic systems need specialized infrastructure and engineering, making them capital-intensive for many farmers, particularly in poor countries. Many agrivoltaic farms demand battery storage devices to control intermittent solar energy supply, which increases expenses.
Farmers in India's agrivoltaic pilot projects saw higher capital expenses when building monocrystalline solar and battery storage systems compared to regular solar farms. Large corporations and industrial-scale agrivoltaic farms benefit from investment incentives, but smallholder farmers struggle to secure funding due to a shortage of agrivoltaic-specific financial products, high upfront costs with slow return on investment (ROI) and limited access to government subsidies in some regions. Without government subsidies, financial incentives or creative financing approaches, widespread adoption among small and medium-sized farms remains difficult.
Segment Analysis
The global agrivoltaics market is segmented based on system design, cell type, crop, solar technology and region.
Critical Need to ensure the Safety, Reliability and Longevity of Aircraft Structures
Monocrystalline, which combines high-efficiency monocrystalline solar panels with agricultural systems, is gaining interest as solar technology advances and demand for sustainable energy solutions grows. They are made using a single crystal growth process and can achieve commercial efficiencies ranging from 20% to 24%. Furthermore, this technology is the most efficient and reliable method of generating electricity. The EU Green Deal, India's KUSUM Scheme and the United States Investment Tax Credit (ITC) all encourage farmers to invest in agrivoltaics.
The key factors that contribute to their rising demand are their longevity, embedded energy per panel, better efficiency and sleeker aesthetics. Farmers are increasingly using on-site solar power to lessen their reliance on fossil fuels for irrigation, processing and storage. Hybrid agrivoltaic farms, which combine monocrystalline solar energy with battery storage technologies, provide continuous power delivery. Monocrystalline agrivoltaics is quickly developing due to its high efficiency, government incentives, climate resilience and technological advances.
Geographical Penetration
Strong Government Support and Incentives in North America
North America has been a leader in the agrivoltaics market, owing to strong government backing and incentives to encourage renewable energy usage. US, in particular, stands out as the region's largest market, owing to the presence of key companies and the development of complete solar supply chains and infrastructures.
In June 2021, the Dual-Use Solar Act was passed in New Jersey. This legislation established a pilot project "to enable only a handful of farmers to have agrivoltaics systems on their farms while the technology is being evaluated, observed and refined." The New Jersey Agricultural Experiment Station was allotted US$ 2 million in the 2022 state budget to establish research and demonstration agrivoltaics systems on its research farms.
States such as California, Massachusetts and New York have led the way in agrivoltaic efforts, owing to favorable regulatory frameworks that encourage investment and innovation in this industry. Incentive schemes have significantly reduced installation and procurement costs, making agrivoltaic projects more commercially viable. The programs have encouraged cooperation between prominent agrivoltaic installation businesses and big farms, enabling for the deployment of customized solutions that adapt to specific crop and operational needs.
Competitive Landscape
The major global players in the market include Next2Sun Technology GmbH, SunAgri, Ombrea, Namaste Solar, Mirai Solar, SunSeed APV Private Limited, Enel Green Power Spa, JA Solar Holdings Co. Ltd., BayWa AG and Insolight SA.
Sustainable Analysis
The global agrivoltaics market is an important junction of renewable energy and sustainable agriculture, encouraging effective land use, water conservation and food-energy security. Agrivoltaics allows for dual land usage, which means that solar energy can be generated while crops are grown on the same area. This decreases the requirement for deforestation or land conversion to support energy installations. In France, the Sun'Agri agrivoltaic project has successfully deployed adaptive solar shade structures in vineyards, enhancing land production without requiring more agricultural land.
Agrivoltaic farms help to retain soil moisture, lowering the risk of desertification in arid places. The shading effect of solar panels promotes biodiversity by providing habitat for pollinators and beneficial insects. The Fraunhofer Institute's agrivoltaic pilot farm in Germany demonstrated a 15% improvement in soil moisture retention, hence improving soil health. Continued technology breakthroughs, policy incentives and investment in rural agrivoltaic projects will boost its global adoption.
Key Developments
• In December 2023, Turkey began the Agrivoltaics research effort to examine products and production processes. To assist with this effort, researchers developed tracker devices specifically for crops cultivated with Agrivoltaics technologies.
• In October 2023, the National Solar Energy Federation of India (NSEFI) established the Agrivoltaics Alliance in Delhi, India. The fundamental goal of this effort is to simplify crop production. It hopes to reduce the number of diseased veggies on the market by making incremental improvements, cutting manufacturing costs and making the best use of natural sunshine.
• In December 2022, the US Department of Energy awarded US$ 8 million to six solar energy research projects throughout six states and the District of Columbia under the Foundational Agrivoltaics Research for Megawatt Scale (FARMS) initiative.
By System Design
• Fixed
• Dynamic
• Others
By Cell Type
• Monocrystalline
• Polycrystalline
By Crop
• Vegetables
• Fruits
• Crops
• Others
By Solar Technology
• Photovoltaic (PV) Panels
• Concentrated Photovoltaics (CPV)
By Region
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Why Purchase the Report?
• To visualize the global agrivoltaics market segmentation based on system design, cell type, crop, solar technology and region.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points at the agrivoltaics market level for all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global agrivoltaics market report would provide approximately 70 tables, 61 figures and 205 pages.
Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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Table of Contents

1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by System Design
3.2. Snippet by Cell Type
3.3. Snippet by Crop
3.4. Snippet by Solar Technology
3.5. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Rising Water Scarcity
4.1.1.2. Rising Government Subsidies and Support
4.1.2. Restraints
4.1.2.1. High Investment Costs
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Sustainable Analysis
5.6. DMI Opinion
6. By System Design
6.1. Introduction
6.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By System Design
6.1.2. Market Attractiveness Index, By System Design
6.2. Fixed*
6.2.1. Introduction
6.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
6.3. Dynamic
7. By Cell Type
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Cell Type
7.1.2. Market Attractiveness Index, By Cell Type
7.2. Monocrystalline*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Polycrystalline
8. By Crop
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Crop
8.1.2. Market Attractiveness Index, By Crop
8.2. Vegetables*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Fruits
8.4. Crops
8.5. Others
9. By Solar Technology
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solar Technology
9.1.2. Market Attractiveness Index, By Solar Technology
9.2. Photovoltaic (PV) Panels*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Concentrated Photovoltaics (CPV)
10. Sustainability Analysis
10.1. Environmental Analysis
10.2. Economic Analysis
10.3. Governance Analysis
11. By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System Design
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Cell Type
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Crop
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solar Technology
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. US
11.2.7.2. Canada
11.2.7.3. Mexico
11.3. Europe
11.3.1. Introduction
11.3.2. Key Region-Specific Dynamics
11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System Design
11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Cell Type
11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Crop
11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solar Technology
11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.3.7.1. Germany
11.3.7.2. UK
11.3.7.3. France
11.3.7.4. Italy
11.3.7.5. Spain
11.3.7.6. Rest of Europe
11.4. South America
11.4.1. Introduction
11.4.2. Key Region-Specific Dynamics
11.4.3. Key Region-Specific Dynamics
11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By System Design
11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Cell Type
11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Crop
11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solar Technology
11.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.4.8.1. Brazil
11.4.8.2. Argentina
11.4.8.3. Rest of South America
11.5. Asia-Pacific
11.5.1. Introduction
11.5.2. Key Region-Specific Dynamics
11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System Design
11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Cell Type
11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Crop
11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solar Technology
11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.5.7.1. China
11.5.7.2. India
11.5.7.3. Japan
11.5.7.4. Australia
11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
11.6.1. Introduction
11.6.2. Key Region-Specific Dynamics
11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By System Design
11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Cell Type
11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Crop
11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Solar Technology
12. Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Company Profiles
13.1. Next2Sun Technology GmbH*
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Financial Overview
13.1.4. Key Developments
13.2. SunAgri
13.3. Ombrea
13.4. Namaste Solar
13.5. Mirai Solar
13.6. SunSeed APV Private Limited
13.7. Enel Green Power Spa
13.8. JA Solar Holdings Co. Ltd.
13.9. BayWa AG
13.10. Insolight SA.
LIST NOT EXHAUSTIVE
14. Appendix
14.1. About Us and Services
14.2. Contact Us