Automotive Solar Carport Charging Station Market – Forecast, 2024-2030
The Automotive Solar Carport Charging Station Market size is estimated to reach $1.9 billion by 2030, growing at a CAGR of 15.3% during the forecast period 2024-2030.
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An Automotive Solar Carport Charging Station is a carport structure with the installation of Solar Panels that generate renewable energy to charge Electric Vehicles (EVs). It is sustainable and does not rely as much on traditional grid electricity as its off-grid power source. Key drivers of the solar carport market are the rising demand for clean energy solutions and the contribution of solar carports to lowering carbon emissions. With the rapid increase in EV adoption, there is a need for accessible charging points and government incentives and supportive policies make solar carport investment attractive. Solar and charging technology advances companies to embrace sustainability and there is a need for resilient, off the grid power solutions.?Solar power adoption for EV charging and energy storage systems integration are the transformative trends in Automotive Solar Carport Charging Station Market. The installation of PairTree solar chargers at the Port of Hueneme by Paired Power shows how solar powered EV charging can reduce emissions and provide an off grid, sustainable alternative. In line with the Port's zero emissions goals, the chargers supply clean power for EVs without imposing on the utility grid. Battery storage is included on each PairTree charger for 24/7 energy supply and maximum efficiency and reliability. This setup shows how solar charging with energy storage allows continuous, eco-friendly operation in many environments.
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Key Takeaways:
Europe is the Leading Region
Europe is projected as the leading region in Automotive Solar Carport Charging Station Market with a market share of 35% in 2023. Rapid expansion of electric vehicle adoption and strong environmental policies in Europe drive the automotive solar carport charging station market in the region. There’s been a lot of progress in Europe with electric vehicles (EVs), all 27 EU Member States have adopted EVs and EVs accounted for 22.7% of new car registrations in 2023, according to the European Environmental Agency. Battery electric car registrations rose 37% that year, and in 2022, 2.4 million new electric cars were registered, up from 2 million the previous year. It also registered 91,000 new electric vans, mostly battery powered. The growing trend towards electrification along with supportive environmental policies and incentives have amplified the need for efficient and renewable energy solutions such as solar carports that can support charging infrastructure. In Europe, solar carports are a perfect fit with this concept of sustainability and clean energy infrastructure and therefore solar carport charging station market in Europe is a leader, serving the increasing EV population with clean charging alternatives.
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Commercial Leads Application Type
The commercial segment dominates the automotive solar carport charging stations market due to the high demand for accessible and sustainable charging solutions in public and business spaces. Recent projects, such as the collaboration between the National Solar Energy Federation of India (NSEFI) and Servotech Power Systems Ltd., demonstrate this demand; they established a solar-powered EV charging carport at Hauz Khas Village in Delhi to support the city’s growing EV infrastructure. Commercial sites, like this one, benefit from high visibility, serving numerous EV users and providing convenient, green charging solutions. Additionally, Lithuania’s large-scale solar carport with 44 EV charging points further underscores the role of commercial solar carports in providing efficient, grid-connected systems for heavy daily usage. These commercial installations utilize advanced solar and charging technology to maximize charging capacity and energy efficiency, which is essential for meeting the needs of EV users and promoting clean energy in high-traffic public areas.
Multi Car Solar Carports Shows Fastest Growth?
Multi car solar carports are the fastest growing segment in the automotive solar carport charging stations market due to their ability to efficiently support high demand environments especially in commercial and industrial locations. This trend can be seen in companies such as Ford which are using large scale solar car ports to drive sustainability across their manufacturing sites. For example, Ford’s Silverton Assembly Plant in South Africa has a 13.5-megawatt solar carport that gives covered parking to over 3,500 vehicles and supplies 18% of the plant’s electricity needs. Ford’s Thailand Manufacturing facility also has a 7.7-megawatt solar carport, which shelters more than 1,500 vehicles and supplies up to 20% of the energy needed to produce vehicles. Multi car solar carports are large scale installations that illustrate how solar energy is generated and carbon emissions are reduced, making them crucial to supporting large operations in the automotive sector.
Adoption of Electric Vehicles
The rapid adoption of electric vehicles (EVs) in all over the world is one of the huge factors for the growth of automotive solar carport charging station market. As sales of EVs rise, demand for accessible, sustainable charging infrastructure does as well. According to the International Energy Agency (IEA), in 2023 EV battery demand hit a new high, surpassing 750 GWh, 40% more than in 2022, mainly due to new EV purchases. Of note, electric cars accounted for 95 % of this battery demand growth, and there was a small bump driven by larger battery capacities as more SUVs join the EV lineup. In major markets, such as the United States and Europe, followed by China, demand grew more than 40%, reinforcing the global move towards electric mobility. In these major markets, battery demand grew more than 70% in 2023, but globally, the pace of EV adoption is increasing. With the momentum of the EV market and the need for ecofriendly off grid charging solutions in order to achieve mass adoption of EVs, the case for solar carport charging stations is crucial.?
High Initial Costs
A major factor restraining the Automotive Solar Carport Charging Station Market is the high installation cost, which affects the adoption and scalability of the system. The installation involves two main components: Construction of a durable canopy structure and the solar panel installation that will follow. Companies, including Brooklyn Solar Canopy, sell modular and adjustable aluminum alloy canopies for high quality installations, costing between $10,500 and $15,500. After this, there is another cost associated with the solar panel installation, with systems between 3 kW and 6 kW costing on average $9,000 to $18,000 based on a national average installation rate of $3 per watt. Add it all up and the total installation cost of a professionally installed solar canopy is somewhere between $19,050 and $32,600. The challenge to market penetration with this high initial investment is a reflection of the premium on renewable energy sources that are critical to the growth of sustainable infrastructure in the automotive sector.
Key Market Players:?
Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Automotive Solar Carport Charging Station Market. The top 10 companies in this industry are listed below: