North America Utility Solar EPC Market Growth Opportunities and Market Forecast 2025-2033: A Strategic Analysis

North America Utility Solar EPC Market by Capacity (50 kW to 1 MW, 1 to 3 MW, 3 to 10 MW, 10 to 50 MW, > 50 MW), by North America (U.S., Canada) Forecast 2025-2033

North America Utility Solar EPC Market Growth Opportunities and Market Forecast 2025-2033: A Strategic Analysis

Key Insights

The size of the North America Utility Solar EPC Market was valued at USD 13.7 Billion in 2023 and is projected to reach USD 19.67 Billion by 2032, with an expected CAGR of 5.3% during the forecast period. Utility Solar EPC (Engineering, Procurement, and Construction) refers to the comprehensive process of designing, sourcing, and building large-scale solar power plants intended to supply electricity to the utility grid. The role of an EPC contractor in the utility solar sector is critical as they oversee the entire project lifecycle, from conceptual design to commissioning and grid connection. The engineering phase involves site assessments, feasibility studies, and the creation of detailed plans to maximize energy production efficiency. During the procurement phase, the contractor acquires all necessary components, including solar panels, inverters, mounting systems, and balance-of-system equipment, ensuring high-quality materials that align with the project's specifications and budget. The construction phase includes on-site activities like land preparation, system installation, electrical wiring, and testing, followed by the integration of the solar plant into the existing power infrastructure. This growth is driven by factors such as government incentives, rising energy demand, and technological advancements.

North America Utility Solar EPC Market Concentration & Characteristics

The market is moderately concentrated, with leading players accounting for a significant portion of the market share. Innovation remains a key driver of market growth, with companies investing in R&D to improve efficiency and reduce costs. Regulations play a crucial role, with varying renewable portfolio standards (RPS) and solar incentives across different regions. End-user concentration is evident in the increasing adoption of solar EPC services by utilities and large-scale commercial customers. Merger and acquisition activities are expected to continue as companies seek to consolidate their market position.

North America Utility Solar EPC Market Trends

The government's emphasis on clean energy initiatives, such as the Inflation Reduction Act, continues to drive market growth. Hybrid solar-plus-storage systems are gaining popularity, offering enhanced grid stability and resilience. Technological advancements in solar panels and inverters are improving efficiency and cost-effectiveness. Furthermore, the adoption of solar EPC services for large-scale commercial and industrial projects is increasing.

Key Region or Country & Segment to Dominate the Market

The United States accounts for the largest market share in North America, driven by strong government incentives and a growing renewable energy sector. The "10 to 50 MW" capacity segment is expected to witness significant growth due to increasing solar farm development by utilities and independent power producers.

North America Utility Solar EPC Market Product Insights Report Coverage & Deliverables

North America Utility Solar EPC Market Analysis

The market is expected to grow significantly over the forecast period, with a rise in utility-scale solar projects and government initiatives. Market size and share estimations are provided in terms of revenue, with a detailed analysis of growth drivers and restraints.

North America Utility Solar EPC Market Regional Insights

United States: The largest market, witnessing increased solar energy deployment by utilities and commercial entities.
Canada: Growing investments in solar projects due to favorable government policies and rising energy demand.

Driving Forces: What's Propelling the North America Utility Solar EPC Market

Government incentives and renewable energy targets
Rising energy demand and environmental concerns
Technological advancements and cost reductions

Challenges and Restraints in North America Utility Solar EPC Market

Fluctuating raw material costs
Intermittency of solar power
Competition from other renewable energy sources

Emerging Trends in North America Utility Solar EPC Market

Hybrid solar-plus-storage systems
Smart grid integration
Energy storage technologies

North America Utility Solar EPC Industry News

In July 2023, the New Jersey Board of Public Utilities (NJBPU) abolished the sales tax on solar systems.
In December 2023, Waaree Energies invested USD 1 billion in its inaugural U.S. solar module manufacturing facility in Texas.

Leading Players in the North America Utility Solar EPC Market

North America Utility Solar EPC Market Growth

North America Utility Solar EPC Market Segmentation

1. Capacity
- 1.1. 50 kW to 1 MW
- 1.2. 1 to 3 MW
- 1.3. 3 to 10 MW
- 1.4. 10 to 50 MW
- 1.5. > 50 MW

North America Utility Solar EPC Market Segmentation By Geography

1. North America
- 1.1. U.S.
- 1.2. Canada

North America Utility Solar EPC Market Regional Share

North America Utility Solar EPC Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2019-2033
Base Year	2024
Estimated Year	2025
Forecast Period	2025-2033
Historical Period	2019-2024
Growth Rate	CAGR of 5.3% from 2019-2033
Segmentation	By Capacity 50 kW to 1 MW 1 to 3 MW 3 to 10 MW 10 to 50 MW > 50 MW By Geography North America U.S. Canada

Table Of Content

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1 Government initiatives and targets for renewable sources
    - 3.2.2 Rising deployment of utility scale projects
- - 3.3. Market Restrains
  - - 3.3.1. Longer payback period
- - 3.4. Market Trends
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. North America Utility Solar EPC Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Capacity
  - 5.1.1. 50 kW to 1 MW
  - 5.1.2. 1 to 3 MW
  - 5.1.3. 3 to 10 MW
  - 5.1.4. 10 to 50 MW
  - 5.1.5. > 50 MW
- 5.2. Market Analysis, Insights and Forecast - by Region
  - 5.2.1. North America
6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- - 6.2. Company Profiles
  - - 6.2.1 ACME Solar
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 First Solar
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 Core Development Group
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 KEC International Ltd.
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 RISEN ENERGY Co. LTD.
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 Rosendin Electric
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 SOLV Energy
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 Sterling and Wilson Renewable Energy
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 Swinerton Incorporated
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 Tata Power Solar
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)
    - 6.2.11 Waaree Energies
      6.2.11.1. Overview
      6.2.11.2. Products
      6.2.11.3. SWOT Analysis
      6.2.11.4. Recent Developments
      6.2.11.5. Financials (Based on Availability)

List of Figures

Figure 1: North America Utility Solar EPC Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
Figure 2: North America Utility Solar EPC Market Share (%) by Company 2024

List of Tables

Table 1: North America Utility Solar EPC Market Revenue Billion Forecast, by Region 2019 & 2032
Table 2: North America Utility Solar EPC Market Revenue Billion Forecast, by Capacity 2019 & 2032
Table 3: North America Utility Solar EPC Market Revenue Billion Forecast, by Region 2019 & 2032
Table 4: North America Utility Solar EPC Market Revenue Billion Forecast, by Capacity 2019 & 2032
Table 5: North America Utility Solar EPC Market Revenue Billion Forecast, by Country 2019 & 2032
Table 6: U.S. North America Utility Solar EPC Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 7: Canada North America Utility Solar EPC Market Revenue (Billion) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

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North America Utility Solar EPC Market Growth Opportunities and Market Forecast 2025-2033: A Strategic Analysis