The Thailand Solar Energy Market Report and It is Segmented by Technology (Solar Photovoltaic (PV) and Concentrated Solar Power (CSP)). The Market Size and Forecasts are Provided in Installed Capacity for all the Above Segments.

Thailand solar energy market is driven by the rising investment in renewable energy, and the growing usage of solar energy to reduce the usage of fossil fuels.

Thailand Solar Energy Market Outlook 2031

The global Thailand solar energy market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 7.2% during the forecast period 2023 - 2031. The growth of the market is attributed to strong government support in the form of alternative energy development plan and feed-in tariffs. The decreasing cost of solar photovoltaic system is anticipated to fuel the market expansion.



Solar power is the cleanest source of renewable energy. It is convenient renewable solution for increasing global warming and greenhouse emission. Solar energy is a radiant light and heat from the sun which is exploit using technologies including solar thermal energy, artificial photosynthesis, solar heating, molten salt power plants, photovoltaic, and solar architecture. Solar energy are used in generating electricity, heating water for commercial, domestic, & industrial use, and providing lighting and comfortable interior environment.

For Thailand solar energy market the government has set clean energy targets and it is trying to achieve their targets by changing to renewable energies. Various developments are taking place;



For instance, In 2020, the total capacity of solar energy reached to approximately 3,000 megawatts. Solar energy in Thailand is targeted to reach 6,000 megawatt by 2036.

Thailand Solar Energy Market Trends, Drivers, Restraints, and Opportunities

• Rising demand for electricity in Thailand is projected to drive the thailand solar energy market growth during the forecast period.


• Increasing investment in solar energy is anticipated to fuel the market in the coming years.


• Government’s supportive policies and initiatives is major factor propelling the market during the forecast period.
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The size of the Thailand Solar Energy Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 7.20% during the forecast period. Recent developments include: June 2023: National Power Supply Public Company Limited (NPS) has completed the installation of the first phase of the 60 MW floating solar power plant on the well. The plant will start generating electricity in the fourth quarter of 2023. Also, the company is installing a 90 MW Floating Solar Farm Phase 2 which is expected to be completed and ready to generate electricity in the first quarter of next year., March 2023: Falken Tires, a global tire company, announced the construction of extensive solar panel installation on a single facility, covering an area of 100,000 square metres, equivalent to over 18 football pitches. This installation is being constructed at the Sumitomo Rubber Industries (SRI) factory in Thailand, where Falken is a subsidiary. The installation comprises 40,000 solar panels with a combined output of 22MW and is set to be completed in two years.. Key drivers for this market are: 4., Favorable Government Policies and Increasing Adoption of Solar PV Systems4.; Soaring Electricity Prices Incentivized Installing Solar PV Systems for Self-Consumption. Potential restraints include: 4., The Growth of Other Renewable Technologies Such as Wind and Bioenergy. Notable trends are: Solar Photovoltaic (PV) Segment Expected to Dominate the Market.

Thailand Solar Photovoltaic Market has valued at USD 2.63 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 3.81% through 2029.

The Thailand solar energy market, valued at approximately $X million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 7.20% from 2025 to 2033. This expansion is driven by several key factors. The Thai government's strong commitment to renewable energy targets, aiming to significantly increase the country's solar power capacity, is a primary catalyst. Increasing electricity demand coupled with rising energy costs makes solar energy a financially attractive option for both residential and commercial consumers. Furthermore, advancements in solar photovoltaic (PV) technology, leading to increased efficiency and reduced costs, are fueling market growth. The presence of established players like SPCG Public Company Limited, Symbior Energy Limited, and B Grimm Power Public Company Limited, alongside emerging companies, indicates a competitive and dynamic landscape. Government initiatives promoting investment in renewable energy infrastructure and favorable policies further stimulate market expansion. Technological advancements in Concentrated Solar Power (CSP) also hold significant potential for future growth, though currently PV technology dominates the market share. Challenges remain, including land availability for large-scale projects and the intermittent nature of solar energy, requiring grid infrastructure improvements for efficient integration. Despite these challenges, the long-term outlook for the Thailand solar energy market remains positive. Continued government support, technological innovation, and the increasing economic viability of solar power are expected to drive substantial growth throughout the forecast period. The market segmentation, with Solar PV dominating over CSP, suggests a focus on immediate cost-effective solutions, which will likely evolve as CSP technologies mature and become more competitive. The involvement of international corporations such as Marubeni Corporation and Black & Veatch Holding Company signals confidence in the market's potential and indicates a healthy influx of foreign investment. The market's trajectory will depend on factors like policy consistency, grid modernization, and successful implementation of government incentives, all of which currently contribute to a positive growth outlook. Recent developments include: June 2023: National Power Supply Public Company Limited (NPS) has completed the installation of the first phase of the 60 MW floating solar power plant on the well. The plant will start generating electricity in the fourth quarter of 2023. Also, the company is installing a 90 MW Floating Solar Farm Phase 2 which is expected to be completed and ready to generate electricity in the first quarter of next year., March 2023: Falken Tires, a global tire company, announced the construction of extensive solar panel installation on a single facility, covering an area of 100,000 square metres, equivalent to over 18 football pitches. This installation is being constructed at the Sumitomo Rubber Industries (SRI) factory in Thailand, where Falken is a subsidiary. The installation comprises 40,000 solar panels with a combined output of 22MW and is set to be completed in two years.. Key drivers for this market are: 4., Favorable Government Policies and Increasing Adoption of Solar PV Systems4.; Soaring Electricity Prices Incentivized Installing Solar PV Systems for Self-Consumption. Potential restraints include: 4., Favorable Government Policies and Increasing Adoption of Solar PV Systems4.; Soaring Electricity Prices Incentivized Installing Solar PV Systems for Self-Consumption. Notable trends are: Solar Photovoltaic (PV) Segment Expected to Dominate the Market.

The Southeast Asia Solar Energy Market Report is Segmented by Technology (Solar Photovoltaic and Concentrated Solar Power), Grid Type (On-Grid and Off-Grid), End-User (Utility-Scale, Commercial and Industrial, and Residential), and Geography (Vietnam, Indonesia, Philippines, Thailand, Malaysia, Singapore, and Rest of Southeast Asia). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW)

The Southeast Asian solar energy market is experiencing robust growth, fueled by increasing energy demands, supportive government policies promoting renewable energy adoption, and decreasing solar technology costs. A Compound Annual Growth Rate (CAGR) of 10.20% from 2019 to 2024 indicates a significant market expansion. While precise market size figures for 2019-2024 aren't provided, projecting backward from a 2025 estimated market size (assuming for illustrative purposes a value of $5 billion) using the CAGR reveals substantial year-on-year growth. This growth trajectory is expected to continue through 2033, driven by factors like rising electricity prices, increasing awareness of climate change, and the push towards energy independence within the region. The market is segmented by technology (solar photovoltaic and concentrated solar power) and geography (Vietnam, Indonesia, Philippines, Thailand, Malaysia, and Rest of Southeast Asia), with Vietnam, Indonesia, and the Philippines likely representing the largest segments due to their substantial populations and increasing energy needs. Key players, including Canadian Solar, JinkoSolar, and Trina Solar, are actively participating in this expanding market, further stimulating competition and innovation. Challenges remain, such as inconsistent policy implementation across the region and the need for improved grid infrastructure to accommodate the influx of solar energy, but the overall outlook for the Southeast Asia solar energy market is overwhelmingly positive. The dominance of solar photovoltaic (PV) technology is anticipated to continue, reflecting global trends and cost-effectiveness. Concentrated solar power (CSP) may witness niche growth in specific regions with high solar irradiation and suitable land availability. Within the geographic segmentation, countries with strong government support and already established renewable energy initiatives will likely experience faster growth. Investment in research and development, coupled with partnerships between international and local companies, is further accelerating market expansion. The long-term forecast suggests a sustained high growth trajectory, making the Southeast Asian solar energy market an attractive investment destination for both domestic and international players, although potential variations in growth rates across individual countries should be carefully considered. Recent developments include: October 2022: Acwa Power secured a contract from Indonesia's state-owned utility, PT Perusahaan Listrik Negara (PLN), to build two floating solar photovoltaic (PV) power plants. The deal encompassed the 60 MW Saguling and 50 MW Singkarak floating solar projects. The two projects were likely to have a combined capacity of 110 MW and cost USD 105 million to build., April 2022: The Sunseap Group of Singapore signed an agreement with the provincial administration of Indonesia's Riau Islands to build large-scale solar energy and storage projects to supply power to the islands and Singapore.. Key drivers for this market are: 4., Increasing Renewable Energy Installation to Reduce the Carbon Emission4.; The Decreasing Price of Solar PV Modules. Potential restraints include: 4., Increasing Renewable Energy Installation to Reduce the Carbon Emission4.; The Decreasing Price of Solar PV Modules. Notable trends are: Solar Photovoltaic Expected to Dominate the Market.

The Southeast Asia Renewable Energy Market Report is Segmented by Technology (Solar Energy, Wind Energy, Hydropower, Bioenergy, Geothermal, and Ocean Energy), End-User (Utilities, Commercial and Industrial, and Residential), and Geography (Vietnam, Indonesia, Philippines, Thailand, Malaysia, Singapore, and Rest of Southeast Asia). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

United Kingdom Renewable Energy Market Outlook 2031

United Kingdom renewable energy market size was valued at USD XX Billion in 2022 and is projected to reach USD XX Billion by 2031, expanding at a CAGR of 10.04% during the forecast period 2023 - 2031. The growth of the market is attributed to increasing energy consumption, traditional power sources unable to meet requirement, and growing numbers in renewable energy manufactures.

Renewable energy can be supplied to tides, waves, rain, and wind. While renewable energy is commonly thought of as a replacement technology, harnessing nature’s power has long been used for transportation, lighting, and heating. Now there are innovative and less-expensive ways to capture and retain wind and solar energy renewables are getting an additional necessary power supply.

The COVID-19 outbreak was not able to affect the renewable energy corporation. Renewable energy market players faced several problems vary from getting component require to develop renewable energy and providing end products to attracting workers from quarantines.

The coronavirus-driven internment places a brake on the element and device production that increased product costs, lowering the market demand. However, the renewable energy trade is returning to traditional, witnessing the steady increasing energy demand, particularly from the commercial sectors.

United Kingdom Renewable Energy Market Trends, Drivers, Restraints, and Opportunities

• Increase in consumer purchasing capacity and growing population is projected to boost the market in the coming year.
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In Thailand Renewable Energy Market, Technological breakthroughs in battery storage, floating solar, and offshore wind will open new frontiers for deployment.

Thailand Data Center Power Market Size was valued at USD 456 Million in 2024 and is projected to reach USD 753 Million by 2032, growing at a CAGR of 6.4% from 2026 to 2032.

Thailand Data Center Power Market Drivers

Government Initiatives: Thailand's digital economy has expanded quickly under the Thailand 4.0 policy framework. According to the Digital Economy Promotion Agency (DEPA), Thailand's digital economy will be worth 727 billion baht (about $21.5 billion) in 2023, accounting for almost 17% of the GDP and rising at a rate of 10.4% per year. The government intends to grow this to 25% of GDP by 2027. The Thailand Board of Investment (BOI) has also created specific incentives for data center investments, including tax breaks of up to eight years for projects worth more than one billion baht. Since adopting these incentives, the BOI has authorized about 15 billion baht (roughly $444 million) in data center investments from 2021 to 2023.

Increase in Internet Use and Mobile Connectivity: Thailand's internet penetration is expected to reach 85.3% in 2023, with over 60 million users, as reported by the National Broadcasting and Telecommunications Commission (NBTC). Thai internet users spend an average of 9 hours and 38 minutes online daily, making it one of the highest rates globally. Mobile data consumption has also seen a significant increase, with mobile data traffic rising from 16 exabytes in 2021 to over 25 exabytes in 2023, marking a 56% growth over two years. This surge in internet and mobile data usage is driving up the demand for data center electricity capacity, as more infrastructure is required to support this growing digital landscape.

Renewable Energy Integration in Data Centres: Thailand's Ministry of Energy has set lofty renewable energy objectives under the Alternative Energy Development Plan (AEDP), seeking to boost renewable energy's proportion of the entire energy mix to 30% by 2037. The Energy Regulatory Commission reported that power consumption from data centers in Thailand is expected to reach 240 megawatts by 2025, with an annual growth rate of roughly 12%. The Electricity Generating Authority of Thailand (EGAT) reports that more than 25% of new data center projects in Thailand include on-site renewable energy generation, predominantly solar PV, with an average capacity of 2-5 megawatts per installation. This tendency is projected to intensify as Thailand imposes stronger environmental laws on energy-intensive businesses.

The size of the Thailand Power Generation Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.80% during the forecast period. Recent developments include: May 2023: Mae Hing Son province launched a solar power plant and battery energy storage project. The Electricity Generating Authority of Thailand (EGAT) held a commercial operation date (COD) ceremony for a 3 MW solar power plant and 4 MW battery energy storage system project., May 2023: Acciona Energia and the Blue Circle announced inking a 25-year power purchase agreement (PPA) in Thailand for five wind farms with a total capacity of 436 MW. The projects were picked through a bidding process by the Energy Regulatory Commission (ERC), and these projects will be developed in phases. The first wind farm is expected to begin construction in 2024, and all five projects will be completed by 2030.. Key drivers for this market are: 4., Increasing Renewables Capacity in Thailand4.; Rising Modernization of Existing Transmission and Distribution Infrastructure. Potential restraints include: 4., Huge Capital Expenditure Required for Carrying out Modernization of Existing Facilities. Notable trends are: Renewable Power Generation to Witness Significant Growth.

The France Distributed Solar Power Generation Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 12% during the forecast period, 2023 – 2031. The growth of the market is attributed to elements such as increasing environmental concerns and high cost of grid expansion. Moreover, advancement in technology leading to increase in efficiency and solar panel manufacturing cost reduction has been a key factors responsible for the growth of the France distributed solar power generation market.

It is the generation of power from solar energy for personal use. The energy produced is not sent to a centralized grid rather is used directly in households, industries, and commercial centers.



Growing demand for clean energy is among the foremost drivers for the distributed solar power generation market in the country. The country is earnestly shifting from conventional energy-producing sources to clean energy sources and produced over 16.7% of the total electricity generated from hydropower and renewable energy combined.



France is the world’s second-largest nuclear electricity producer after the United States. The country produced over 413.2 TWh of electricity from nuclear power, in 2018 and has over 57 nuclear reactors spread over the country.Furthermore; nuclear energy continues to hold an edge over other forms of energy generation energy resources in the country owing to the long-standing policy based on energy security. France’s total nuclear capacity stands at 62.3 GWe. Therefore, the cheaper electricity generation from nuclear energy and more reliability on nuclear energy produced electricity is expected to be the major restraint of the distributed solar power generation market in the country.



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Thailand Solar Photovoltaic Glass Market is driven by the rising adoption of solar energy systems, advancements in solar panel technology, and supportive government policies.

Thailand Power Generation EPC Market size was valued at USD 1.7 Billion in 2023 and is projected to reach USD 3.4 Billion by 2031, growing at a CAGR of 9.1% from 2024 to 2031.

Key Market Drivers:

Renewable Energy Transition and Government Commitment: According to Thailand’s Ministry of Energy, the country aims to increase renewable energy to 30-35% of total energy consumption by 2037. The Thailand Power Development Plan (PDP 2018-2037) includes a large investment in renewable energy projects. The government has pledged to invest roughly 1.2 trillion baht (nearly $35 billion) on energy infrastructure, with a particular emphasis on solar, wind, and biomass power generation. This national plan is a significant driver of the Power Generation EPC Market.

Increasing Electricity Demand and Economic Growth: According to the Energy Policy and Planning Office (EPPO), Thailand’s energy demand is expected to increase by 3-4% per year.

Thailand has implemented ambitious renewable energy targets through its Power Development Plan and Alternative Energy Development Plan, with strong incentives for solar adoption. The government has introduced feed-in tariffs, tax benefits, and adder programs specifically designed to accelerate solar deployment. These policy frameworks have created a favorable environment for both utility-scale solar farms and distributed rooftop systems. The market size is projected to surpass USD 3.32 billion in 2024 and reach a valuation of USD 9.46 billion by 2032.Thailand enjoys excellent solar irradiation levels (averaging 5 kWh/m²/day across most regions) and has abundant land resources suitable for solar development. This natural advantage, combined with the country's growing energy demand and efforts to reduce dependence on imported fossil fuels, positions Thailand as one of Southeast Asia's most promising solar. The Thailand solar market is expected to grow at a CAGR of 14.0% from 2026 to 2032.

Solar panel manufacturers have thrived despite some hurdles throughout the period. Companies saw an uptick in the need for solar panels as the country continued emphasizing renewable energy. The Inflation Reduction Act bolstered and extended production and investment tax credits, making domestic manufacturing more viable. Even so, manufacturers have been plagued by import penetration, specifically from Asian products, which flooded the US market with low-cost solar modules and cells. In 2022, the Biden Administration announced waiving tariffs on solar panel imports from Vietnam, Malaysia, Cambodia and Thailand to accelerate solar panel installations across the country in favor of renewable energy. While this didn't hinder revenue, it caused a slowdown in growth in the middle of the period as import penetration was at an all-time high. Even so, these waivers expired in June 2024, providing operators with growth. Overall, solar panel manufacturing revenue has swelled a CAGR of 2.7% to $21.4 billion in 2025, including a 6.6% jump in 2025 alone. Through 2025, solar panel manufacturers have significantly benefited from the Inflation Reduction Act, which offers production tax credits to companies that expand or build manufacturing facilities and produce specific types of components. These credits incentivize expansion, enabling domestic solar panel manufacturing to increase substantially, boosting revenue and positioning the U.S. as one of the world's top producers. Additionally, this expansion prepares manufacturers to meet domestic demand during the outlook period, reducing reliance on imports. Revenue is set to push up as tariff waivers expired in June 2024, causing import penetration to contract throughout the outlook period. Even so, because of the One Big Beautiful Bill, government tax incentives are set to phase out for residential customers in 2025 and commercial customers in 2027, companies will exhibit a temporary surge followed by a slowdown in revenue. They will also face pushback from traditional energy sources (think natural gas) as President Trump aims to bolster the country’s fossil fuel production. Manufacturers must ramp up research and development to help take solar power to the next level. Revenue is set to climb at a CAGR of 5.1% over the five years through 2030, reaching $27.6 billion.

In 2021, the volume of the green ammonia market in Thailand amounted to ** metric tons, an increase from ** metric tons in the previous year. It was forecasted that the volume will increase significantly to more than **** thousand metric tons by 2030.

Discover the booming Thailand power generation EPC market, projected to reach $2.057 billion by 2033 with a CAGR exceeding 4%. This in-depth analysis explores key drivers, trends, and challenges, profiling major players like Toshiba and GE, and providing valuable insights for investors and industry professionals. Learn about regional market shares and future growth potential. Key drivers for this market are: 4., Shift towards Renewable Energy4.; Less Electricity Generation Cost from Bioenergy. Potential restraints include: 4., High Initial Investments. Notable trends are: Conventional Thermal Power Segment Expected to Dominate the Market.