According to a new report from GTM Research and SoliChamba Consulting,Megawatt-Scale PV O&M and Asset Management 2015-2020: Services, Markets and Competitors, the global market for utility-scale PV operations and maintenance will reach 488 gigawatts by 2020, almost triple the estimated market of 133 gigawatts by the end of 2015.
“Just like the larger PV market, the global PV O&M market has been growing at a fast pace these past few years,” says report author Cedric Brehaut. “And unlike the EPC business, it remains attractive even when new construction slows, as seen in Germany, where the addressable O&M market for megawatt-scale plants exceeds 11 gigawatts in 2015 despite a drop in new megawatt-scale plant activations.”
More than half of the world’s O&M market has arisen in the last two years alone. The report identifies the distinct characteristics of markets where new installations remain the primary O&M opportunity, as in the U.S. — versus countries where most of the addressable O&M market consists of older plants, as in Germany and Spain.
FIGURE: Global Megawatt-Scale PV O&M Market in 2015 by Plant Activation Year (Percentage of GW)
The report breaks down operations, maintenance, and asset management into three distinct services within the solar industry and analyzes the competitive landscape for each of these segments. While many vendors offer all these services, asset management remains distinct from O&M in most cases. The report notes a major trend of the decoupling of operations and maintenance, with half of analyzed O&M providers reporting different megawatt counts under operations compared to megawatts under maintenance.