Technotrends20 Mar, 2023Environment
The agrivoltaics market was valued at $3.6 billion in 2021 and is estimated to reach $9.3 billion by 2031, growing at a CAGR of 10.1% from 2022 to 2031. Agrivoltaics is the concept of combining land development for agricultural and solar photovoltaics. It essentially enables two major sectors to coexist. Agrivoltaics leverages agricultural and renewable energy synergies to produce an economical, effective, and innovative approach to land constraints. Furthermore, agrivoltaics encourage sustainable rural development and biodiversity protection.
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