PALM BEACH, Fla., Sept. 20, 2023 /PRNewswire/ -- - Electricity demand worldwide is growing rapidly because of economic progress and population growth. The rising level of lifestyle and the expansion of infrastructure are driving up demand for power generation. As a result, most countries are building new solar plants or upgrading old ones to fulfil the rising demand. This is projected to augment demand for ground-mounted solar, propelling the market forward even faster. In the future electricity generation through solar energy will increase, which will boost the need for new facilities related to solar energy projects, this will create an opportunity for the ground mounted solar market. A report from Industry ARC projects that the global ground mounted solar market size is forecast to reach $9.65 billion by 2027, growing at a CAGR of 9.56% during 2022-2027. The report said: "The solar panels mounted on the ground are a fixed tilt solar system that can be readily installed in a big yard or field. Furthermore, the panels are identical to pole-mounted solar panels, except that they are placed directly on the ground rather than being elevated on poles. Materials such as crystalline silicon, metals, and more are widely utilized in ground-mounted solar panels because these materials have higher efficiencies, which make them ideal for ground-mounted solar application. A solar panel system equipped with a single-axis solar tracker witness a performance gain from 10% to 30%. Apart from this, ground mounted solar market is primarily driven by the growth of the utility industry. Also, the growth from the commercial sector for ground-mounted solar is further boosting the demand for ground-mounted solar, thereby, propelling the ground mounted solar industry growth during the forecast period (2027). Active Companies from around the markets with current developments this week include: SolarBank Corporation (OTCQX: SUUNF) (CSE: SUNN), Tesla, Inc. (NASDAQ:TSLA), Altus Power, Inc., (NYSE: AMPS), Sunrun (NASDAQ: RUN), NextEra Energy, Inc. (NYSE: NEE).