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Single-Axis Tracker Solar Technology To Reach $2 Billion In Revenue By 2019, IHS

The global revenue of single-axis trackers for ground-mount solar PV installations is forecasted to grow by 120% by 2019, reaching nearly $2 billion, according to new numbers from IHS.

IHS, a leading critical information and insight company, released the new numbers as part of their PV Balance of System Equipment — 2015 report this past Monday, making the prediction that single-axis trackers will be the preferred type of balance of system (BoS) ground mount in the Americas in 2015. (Balance of System is simply a catch-all term for everything other than the solar panels of a solar PV system.)

Overall, global ground-mount solar PV installations are expected to increase by an average of 7% each year, reaching 33 GW in 2019, with utility-scale installations accounting for 73% of the total.

“The United States leads growth in the single-axis tracker market,” said Cormac Gilligan, senior analyst, solar supply chain, IHS Technology. “Chile, Mexico and other emerging markets that have high irradiation are also favoring single-axis trackers, especially as prices have fallen rapidly in recent years.”

IHS-8

Globally, IHS predicts that fixed-tilt structures will be the dominant ground-mount BoS technology, accounting for 67% of total installations, with single-axis tracker installations forecasted to provide 9 GW in 2019, thanks mainly to the growth and demand for utility-scale installations of such type. In line with single-axis trackers dominating the Americas over the next several years, the US is forecast to be the largest global market for single-axis trackers in 2019, accounting for 36% of all global installations, followed by China and India, comprising almost 2 GW.

The US can thank, in part, SunPower, First Solar, and other leading solar PV companies for promoting the value of single-axis trackers in large-scale -utility installations.

“When single-axis trackers are installed in high irradiation locations, the additional energy yield means that customers can generate a higher return on investment,” Gilligan said.

 
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