Global Agrivoltaic Market by Technology (Photovoltaic Systems, Concentrated Solar Power), by Application (Agricultural Land Use, Greenhouses, Rooftop Farming, Livestock Farming), by End-User Industry (Crop Cultivation, Animal Husbandry, Greenhouse Agriculture, Commercial & Residential Rooftop Systems); Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Agrivoltaic Market was valued at USD 2.1 Billion in 2024-e and will surpass USD 8.0 Billion by 2030; growing at a CAGR of 24.8% during 2025 - 2030.

The agrivoltaic market is witnessing significant growth as it combines the benefits of agriculture and solar power generation. Agrivoltaics involves the integration of photovoltaic (PV) systems or concentrated solar power (CSP) technologies with agricultural land use, allowing for the simultaneous production of food and electricity. This dual-use model not only enhances energy production but also promotes sustainable farming practices by optimizing land usage and reducing environmental impacts. As the demand for renewable energy sources grows alongside the need for sustainable agricultural practices, agrivoltaics is emerging as a promising solution to address these challenges.

With increasing concerns over climate change, energy security, and the need for sustainable food production, agrivoltaic systems are being widely adopted in various agricultural applications. The technology can support crop cultivation, livestock farming, and even rooftop farming, offering a way to enhance agricultural productivity while generating clean energy. The global rise in solar energy installations and the growing demand for sustainable agricultural solutions are expected to drive the growth of the agrivoltaic market in the coming years.

Photovoltaic Systems Segment Is Largest Owing To Proven Technology and Versatility

The photovoltaic systems segment is the largest in the agrivoltaic market, primarily due to the proven technology, scalability, and versatility of photovoltaic solar panels. PV systems are widely used in agrivoltaics because of their ability to generate clean electricity from sunlight while providing shading to crops, which can help optimize water usage and protect plants from extreme weather conditions, such as high temperatures and strong winds.

Photovoltaic systems are also highly adaptable to various agricultural settings, including rooftop farms, greenhouse agriculture, and even large-scale land-based installations. This flexibility has made PV systems the most popular choice in agrivoltaic projects, with their ability to integrate seamlessly into existing agricultural operations. As the efficiency and affordability of PV panels continue to improve, the adoption of photovoltaic systems in agrivoltaics is expected to expand, making it the dominant technology in the market.

Rooftop Farming Segment Is Fastest Growing Owing To Space Optimization and Urban Agriculture Trends

The rooftop farming segment is the fastest growing in the agrivoltaic market, driven by urbanization and the increasing trend of using rooftop spaces for agricultural purposes. With limited available land in urban areas, rooftop farming provides an innovative solution for food production while simultaneously generating solar power. This growing interest in urban agriculture has led to an increased demand for agrivoltaic systems that can optimize rooftop spaces for both farming and energy generation.

Rooftop farming, when combined with solar power generation, not only supports sustainable food production but also helps reduce the urban heat island effect and lowers energy consumption in buildings by providing shade. This trend is particularly prominent in cities where space is scarce, and the need for sustainable urban solutions is high. As cities continue to grow and urban agriculture becomes more popular, the rooftop farming segment is expected to witness rapid expansion in the agrivoltaic market.

Crop Cultivation Segment Is Largest End-User Industry Due To High Demand for Sustainable Agriculture

The crop cultivation segment is the largest end-user industry in the agrivoltaic market, driven by the increasing demand for sustainable agricultural practices. Agrivoltaics can significantly enhance crop yield by providing shade, reducing water usage, and protecting crops from extreme weather events such as heatwaves and droughts. As agriculture faces growing challenges related to climate change, the need for sustainable and resilient farming practices has made agrivoltaics an attractive solution for crop farmers.

In addition to reducing environmental impact, agrivoltaic systems also offer farmers an additional revenue stream through the generation of solar energy. By combining crop cultivation with solar power generation, farmers can both increase the productivity of their land and contribute to renewable energy goals. This dual benefit has made the crop cultivation segment a major driver in the adoption of agrivoltaics, and it is expected to remain the dominant end-user segment in the market.

Europe Region Is Largest Market Due To Strong Renewable Energy Policies and Agricultural Innovation

The Europe region is the largest market for agrivoltaic systems, driven by strong renewable energy policies, government incentives, and a growing focus on sustainable agricultural practices. European countries have set ambitious renewable energy targets and are actively promoting the integration of solar power into agricultural systems. Agrivoltaics aligns with Europe's broader goals of reducing carbon emissions and increasing renewable energy generation.

In addition to favorable policies, Europe is home to a number of innovative agricultural projects that are testing and scaling agrivoltaic systems. Countries like Germany, France, and Spain are leading the way in adopting agrivoltaic technologies, particularly in areas with high agricultural activity. The region's commitment to sustainability, combined with the need to enhance food security and reduce environmental impacts, makes Europe the largest and most mature market for agrivoltaics.

Competitive Landscape and Key Players

The agrivoltaic market is highly competitive, with several key players leading the development and deployment of agrivoltaic solutions. Companies such as First Solar, SunPower Corporation, Enel Green Power, and NextEra Energy are prominent in the solar energy and agrivoltaic sectors. These players are focusing on advancing PV technology, reducing costs, and increasing the efficiency of agrivoltaic systems to cater to the growing demand in both the agricultural and renewable energy sectors.

The competitive landscape is characterized by collaborations between solar energy companies and agricultural enterprises to implement agrivoltaic projects worldwide. Additionally, there is a growing trend toward partnerships with government bodies and research institutions to develop and scale agrivoltaic technologies. As agrivoltaics continue to gain traction, competition is expected to intensify, with companies aiming to innovate and provide integrated solutions that meet the evolving needs of both the agricultural and energy sectors.

List of Leading Companies:

• First Solar, Inc.
• Enel Green Power
• NextEra Energy, Inc.
• SunPower Corporation
• Canadian Solar Inc.
• Trina Solar Limited
• JinkoSolar Holding Co., Ltd.
• Longi Solar Technology Co. Ltd.
• TotalEnergies SE
• Ørsted A/S
• BP Solar International
• Shell Solar
• Soltec Trackers
• Sunrun Inc.
• E.ON SE

Recent Developments:

• First Solar, Inc. has expanded its agrivoltaic solutions, integrating solar panels with agricultural practices to provide more sustainable energy and increase crop yields.
• Enel Green Power launched a new agrivoltaic pilot project in Europe, aiming to test the viability of combining solar energy production with large-scale crop cultivation.
• NextEra Energy, Inc. announced the construction of a new agrivoltaic farm in California, providing clean energy to the grid while supporting sustainable farming practices.
• TotalEnergies SE acquired a major agrivoltaic development company to expand its renewable energy portfolio with innovative farming solutions that include energy production.
• JinkoSolar Holding Co., Ltd. partnered with a leading agricultural institution to implement agrivoltaic systems in rural farming areas, offering a new model for energy-efficient farming.

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