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1 Synthèse du marché

1.1 Introduction

The photovoltaic market has developed significantly in recent years, thanks to growing awareness of the importance of environmental sustainability, government incentives, and lower costs of photovoltaic technologies. Italy, with its favorable geographic location and sunny climate, has enormous potential for solar energy, which can contribute significantly to the transition to an energy system based on the use of renewable sources and the reduction of greenhouse gas emissions.

In 2022, the world market was valued at $234.86 billion, with further annual growth projected at a compound annual growth rate (CAGR) of 6.9 percent through 2029. This growth is driven by increasing political support for the technology. In Italy the market is becoming increasingly important, the total annual energy production from photovoltaic systems in 2022 was 32.2 TWh, covering about 8.3% of demand.

Until a few years ago, sustainability was seen as the only driver for the growth of the renewable energy sector; however, the recent Russian-Ukrainian conflict has raised issues of energy dependence, especially in Europe, which contribute to a further push in the transition to sustainable and independent power generation.

Indeed, it was precisely in 2022 that the number of Italian photovoltaic installations and the related power delivered resumed sustained growth. It happened after the abandonment of the "energy bill" in 2013, which had marked a setback for demand for this type of technology. For the future as well, Italian and European goals in terms of environmental sustainability, combined with the relative affordability of photovoltaic installations, seem to draw a positive and growing picture for the sector.

1.2 The global market

Global demand for solar energy is important. The Net Zero Emissions by **** (***) that shows a pathway for the global energy sector to achieve net zero CO* emissions by ****, with advanced economies achieving net zero emissions before others. According to this scenario, solar energy production must reach * times what it was in ...

1.3 The domestic market

Historical trend:

Solar energy production in Italy made an initial leap forward in ****-****. This increase was influenced by the gradual commissioning of more than *,*** MW related to the"Save Alcoa" decree, and the implementation of the"conto energia," a European incentive program to promote the production of electricity from photovoltaic ...

1.4 Export-Import

Italy is a net importer of electricity, the values increased significantly in **** and ****, mainly due to higher prices, but also, to a lesser extent, due to the larger amounts of energy the country imported. From **** to ****, Italy's electricity imports increased significantly, from $*,***.** million in **** to $**,***.** million in ****. Exports also increased over ...

1.5 The impact of Covid

Globally, the solar energy industry was negatively impacted in the short term by the pandemic, mainly due to disruptions in supply chains and reduced investment. Social restriction and distancing measures have caused delays in the implementation of solar projects and panel installation, as well as disruptions in supply chains. As a ...

2 Analyse de la demande

2.1 The question

This section will analyze both the total electricity demand in Italy and the percentage of generation created by photovoltaic sources.

During the period ****-****, electricity demand in Italy was generally increasing, with some seasonal fluctuations. During the summer (***), demand tends to be higher than during the spring and fall months. This ...

2.2 Demand drivers

In the International Energy Agency's projected scenario, the cumulative capacity of photovoltaics will nearly triple. It should reach more than *,*** GW by **** in the main case, overtaking hydropower in ****, natural gas in ****, and coal in **** to become the world's largest installed electrical capacity. Hydropower drops to third place in terms of ...

2.3 The geographical composition of demand

This section will analyze both the geographic distribution of electricity demand and the distribution of PV installations.

Electricity demand:

To analyze the distribution of demand, regions are grouped into clusters:

TURIN: Piedmont - Liguria - Aosta Valley, MILAN: Lombardy, VENICE: Friuli Venezia Giulia - Venezia Mestre - Trentino Alto Adige, FLORENCE: ...

2.4 Hydrogen, a new source of demand

Hydrogen is a versatile energy carrier that can contribute to the decarbonization of various sectors, such as transportation, industry, and heating [***]:

Transportation: it can be used as fuel for fuel cell vehicles, which reject only water as a byproduct. These vehicles have the potential to significantly reduce emissions of greenhouse gases ...

3 Structure du marché

3.1 The market structure

Italy's power generation sector (***) is averagely concentrated. In ****, the last year for which Istat makes sectoral data available, the number of companies was ****, a slight increase from ****. Previous time series are not comparable because Istat used different counting methods.

Number of companies in the sector: power generation Italy, ****-****, in ...

3.2 The value chain

3.3 Distribution

Companies that manufacture and install photovoltaic modules work in both B*B and B*C markets. In Italy, many companies are interested in installing this technology at their production sites to cut energy costs. This trend has become especially pronounced since the outbreak of the conflict in Ukraine, which has caused ...

3.4 The main players in the market

Section *.* listed the principal manufacturers of photovoltaic panels worldwide, which dominate the market by offering relatively cheap and large-scale products. Despite this, there are a few companies in Italy that focus mainly on certain market niches and produce generally high-quality panels. The main made-in-Italy companies are [***]:

Sunerg Solar: Founded in ****, is ...

4 Analyse de l'offre

4.1 The offer

Photovoltaic modules are devices that can convert sunlight into electricity. They consist of a set of photovoltaic cells, usually made of crystalline silicon, that absorb photons of sunlight and generate an electric current through a process called the photovoltaic effect. When photons strike the surface of photovoltaic cells, some are absorbed ...

4.2 The prices

Prices of PV modules vary depending on the technology used. Monocrystalline silicon (***), but they also offer higher efficiencies. PV module prices have fallen significantly in recent years due to economies of scale, technological advances, and competition in the industry. [***]

PV module price trends World, ****-****, base ****=*** Iea

In percentage terms, PV ...

5 Règlementation

5.1 Regulation

From a regulatory perspective, the use of renewable energy sources is encouraged:

EU Directive Sept. **, ****: This directive establishes a common regulatory framework for the advertising of renewable energy usage in the European Union, with the goal of achieving a renewable energy share of ** percent of gross final energy consumption by ****. Piano ...

5.2 Italian bonuses and benefits

The main Italian incentives to install photovoltaic systems are [***]:

Renovation Bonus:

The main measure to incentivize the installation of a photovoltaic system is the Renovation Bonus, which allows you to enjoy a ** percent incentive that is disbursed in the form of an IRPEF tax credit, which can be divided into ** equal ...

6 Positionnement des acteurs

6.1 Segmentation

  • Longi Solar
  • JinkoSolar
  • Ja Solar
  • Sunerg solar S.r.l.
  • Eclipse Italia S.r.l.
  • SPS Istem S.r.l.
  • V-Energy S.r.l.

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Latest news

China's domination of the solar panel market increases - 30/05/2023
  • Chinese solar panel exports increased by 64% in value in 2022, reaching a record $52 billion.
  • China exported 154 GW of solar modules worldwide in 2022. 56% of Chinese solar modules were captured by Europe.
  • Chinese solar panels were 57% cheaper than those produced in the USA or Europe in 2022.
  • Chinese export capacity in solar cells and wafers should exceed 230 GW by 2026.
  • Europe will have a production deficit of 36 GW of solar modules in 2026 to meet its decarbonization targets.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Longi Solar
Ja Solar
Sunerg solar S.r.l.
Eclipse Italia S.r.l.
SPS Istem S.r.l.
V-Energy S.r.l.

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