Global Solar Charging Station Market Report 2023: Increasing Costs Associated with the Production of Electricity Drives Growth


Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Solar Charging Station Market by Type, Application, Station Type, Component: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to's offering.

The Solar Charging Station Market is expected to experience a significant growth rate of 18.5% from 2022 to 2031 owing to increasing inclination towards electric vehicle adoption across the globe.

Key Market Players

  • VCT Group
  • SunPower Corporation
  • Solarstone
  • INHABIT Solar
  • Giulio Barbieri SRL
  • Sunworx Solar
  • Sundial Solar Solutions
  • Solarsense UK Limited

Solar charging stations are used to charge electric vehicles; however, it uses 40% to 60% of the country's national grid power to charge vehicles made with non-renewable energy. Electric vehicles are more environment friendly, although they still use the grid power to charge the vehicle battery, which uses fossil fuels and other non-renewable energy sources.

EVs still reduce their environmental impact, however, using EV charging stations running on non-renewable energy sources has continuous negative impact on the environment.

Therefore, electrification alone is not enough to decarbonize transport. A solar charging station for electric vehicles is the solution to zero this emission. Not only it is good for the environment, however, it is also a big advantage for the vehicle fleet. A solar charging station guarantees a 100% carbon-neutral footprint.

The key factors driving the growth of the solar charging station market includes increase in costs associated with the production of electricity, rise in demand for EVs worldwide, and surge in costs of fossil fuels worldwide which supplements the growth of the market across the globe. Countries that spend a major chunk of their incomes on importing crude oil are witnessing a rise in the adoption of electric vehicles.

This makes electric vehicles a viable and sustainable means of transportation for countries that rely heavily on imported crude oil, as well as countries where rising carbon emissions are a problem. The growing popularity of electric vehicles necessitates the establishment of a reliable charging network to accommodate the ever-expanding fleet of electric vehicles.

For instance, in September 2022, the U.S. government approved plans to support the building of chargers by funding $1.5 billion in federal funding across all fifty states in the U.S. Similarly, in 2023, Tata Power, one of India's' largest EV charging solutions provider announced their plans to install around 25,000 new EV charging points across the nation in the next 5 years. In such instances, greener and sustainable technologies such as solar charging stations are sure to get traction in the future.

The market also offers opportunistic factors to the key players operating in the market to enhance their services, which creates ample opportunities for the growth of the market across the globe. This includes rising need for EV charging stations to meet the demands for the ever-increasing EVs, government incentives and subsidies to promote the usage of solar energy and declining costs & increasing affordability of solar equipment.

The decreasing cost of solar equipment, such as photovoltaic panels and inverters, is expected to be a primary driver in the expansion of the solar industry.

For instance, in 2021, the National Renewable Energy Laboratory (NERL) released a documentation stating decreased costs across residential, commercial, and utility grade photovoltaic. It also stated that there has been a significant cost decline in solar equipment over the past decade that was attributed to an 85% decline in module price.

Furthermore, advances in technology and improvements in manufacturing processes have also resulted in decreased production costs, which have been passed on to customers in the form of cheaper pricing in recent years. This is expected to make solar energy more accessible and cheaper for individuals and companies, contributing to the increased usage of renewable energy sources.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar charging station market analysis from 2021 to 2031 to identify the prevailing solar charging station market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the solar charging station market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global solar charging station market trends, key players, market segments, application areas, and market growth strategies.

Market Dynamics


  • Increase in costs associated with the production of electricity
  • Rise in demand for EVs globally
  • Surge in costs of fossil fuels


  • Excessive costs associated with the equipment requirements of solar stations
  • Intermittent nature and high space requirement of solar energy-based stations


  • Rising need for EV charging stations to meet the demands for the ever-increasing EVs
  • Government incentives and subsidies to promote the usage of solar energy
  • Declining costs and increasing affordability of solar equipment

Key Market Segments

By Type

  • Medium and Small Charging Station
  • Large Charging Station

By Application

  • Household
  • Commercial

By Station Type

  • On grid solar charging station
  • Off grid solar charging station

By Component

  • EV charger
  • Solar panel array
  • Battery energy storage system
  • Others

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