Switzerland Solar Energy Market Report and Forecast 2024-2032

Switzerland Solar Energy Market Outlook

The Switzerland solar energy market size was approximately 2.06 TWh in 2023. The market is assessed to grow at a CAGR of 3.5% between 2024 and 2032, reaching a volume of approximately 2.81 TWh by 2032.

Key Trends in the Market

The solar energy is a renewable energy that can be used to generate electricity while lowering greenhouse gas emissions. It is estimated that the amount of energy/solar radiation received by the earth in one hour is more than the energy consumed by the global population in one year. By exploiting this natural resource, businesses and households can diversify their energy sources and significantly cut down on electricity bills.

• The gradual phase out of nuclear energy, which constitutes 29% of total electricity production, is expected to favour the Switzerland solar energy market demand. The high cost of production and risk of harmful radiation is prompting the government to switch to solar energy. Solar energy can be sufficient for powering household and industrial applications in the country.

• The government agencies are focusing on harnessing solar energy more effectively to meet Swiss energy targets. In 2023, the Federal Audit Office of Switzerland recommended the national government to promote the installation of solar panels in mountainous regions that receive more sunlight during the winter season. The implementation of such measures are expected to favour the Switzerland solar energy market growth in the coming years.

• Energy companies in Switzerland are working on innovative ideas to boost the nation’s reliance on solar power. For example, in Valais canton of Switzerland, Swiss companies are converting old satellite antennas into solar panels with great efficiency, utilising the country’s mountainous location to generate green energy. Not only this, in May 2023, Sun-Ways initiated a pilot project for the installation of solar panels between train tracks. These innovative ideas, supported by increased research and development (R&D) investment, have been crucial in shaping the Switzerland solar energy market trends.

• The market has observed a considerable surge in PV installations over the past three years, which is in line with national objectives, however, stringent policies must be implemented to achieve the medium- and long-term targets for 2035 and 2050.

Switzerland Solar Energy Market Segmentation

Based on technology, the market is segmented into solar photovoltaic (PV) and concentrated solar power (CSP). On the basis of solar module, the market can be divided into polycrystalline, monocrystalline, amorphous silicon cells, and cadmium telluride, among others. The market segmentation, based on end-use, includes residential, commercial, and industrial.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Switzerland solar energy market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• JinkoSolar Holding Co.Ltd.

• Trina Solar Co. Ltd.

• Swiss Solar AG

• Solaronix S.A.

• APAK Energy Sagl

• SOLTOP Energie AG

• Meyer Burger (Industries) GmbH

• Alpiq Holding AG

• Axpo Holding AG

• SUNAGE S.A.

• Alpha Square Invest SA (YouPower S.A.)

• Others

Switzerland Solar Energy Market Share by Technology

Concentrated Solar Power (CSP) is expected to account for a significant share of the market because of its benefits like ability to collect and store large amounts of energy by way of TES (thermal energy storage) at comparatively lower costs, and the ability to complement PV systems and other energy sources. Concentrated solar power systems are relatively cheaper than nuclear and hydropower plants to operate and maintain. They have the potential to continuously generate and store electricity (in the form of molten salts), which makes them a suitable addition to the nation’s energy mix for ensuring energy security. They can also play a key role in controlling climate change as they use the earth’s  natural resources and do not cause harmful emissions to escape into the atmosphere.

Market Share by Solar Module

As per the Switzerland solar energy market analysis, monocrystalline solar modules are expected to witness a significant growth in demand during the forecast period. This is because they possess an efficiency range of 15-20% and their distinctive dark colour blends easily with shingles and foliage. They are well-suited for installation in areas that receive lesser sunlight and do not require much space.

The demand for cadmium telluride solar modules is also expected to increase because of their flexible and lightweight nature which makes them easily portable. They can be produced quickly and at a considerably lower cost compared to silicon based solar panels.

Competitive Landscape

JinkoSolar Holding Co., Ltd. was founded in 2006 and is headquartered in Shanghai, China. It is engaged in the business of researching, developing, and manufacturing photovoltaic products. Its products are marketed in 190+ regions and countries worldwide and it also provides comprehensive green energy solutions to its clients. It is one of the world’s leading solar technology companies.

Trina Solar Co. Ltd. was founded in 1997 and is headquartered in Shanghai, China. It is mainly engaged in providing photovoltaic products, photovoltaic systems, and smart energy. It has a track record of shipping 150GW+ solar modules to 160+ customers worldwide. It has established its manufacturing bases in countries like Vietnam, Thailand, and the US as a part of its expansion strategy. Its regional headquarters are in Zurich, Freemont, Miami, Singapore, Dubai, and Tokyo, among others.

Solaronix S.A. was founded in 1993 and is headquartered in Aubonne, Switzerland. It operates through three business divisions that include the materials, solar cells, and equipment division. It is engaged in the production and distribution of raw materials required for hybrid solar cell and dye solar cell fabrication. It also manufactures solar panels testing equipment and uses components produced in-house to make Dye Solar Cells.

Other key players in the Switzerland solar energy market include Swiss Solar AG, APAK Energy Sagl, SOLTOP Energie AG, Meyer Burger (Industries) GmbH, Alpiq Holding AG, Axpo Holding AG, SUNAGE S.A., and Alpha Square Invest SA (YouPower S.A.), among others.

Key Highlights of the Report