Market Size of Asia-Pacific Distributed Solar Power Generation Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 12.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Distributed Solar Power Generation Market Analysis
The Asia-Pacific distributed solar power generation market is expected to grow at a CAGR of more than 12% during the forecast period of 2020 - 2025. Factors such as rising environmental concerns and government policies for incentives and tax benefits for solar panel installation, high cost of grid expansion are expected to be major drivers driving the market. Also, advancement in technology leading to solar panel manufacturing cost reduction and increase in efficiency have been a major factor for the growth of Asia-Pacificdistributed solar power generation market. However, recent cuts in subsidies for solar power generation in China have somewhat hampered the growth of the market.
- The gradual shift from energy generation from conventional sources such as coal and natural gas to clean energy is expected to help grow the distributed solar power generation market in the region.
- Commercial and industrial sectors are showing growing interest in distributed solar power generation, due to various economical benefits and constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This have created a huge opportunity for distributed solar power generation market in the region.
- China is expected to dominate the market, over rising environmental concerns and economical benefits of domestic distributed solar power generation. The country accounts for over 30% of global solar energy generation, amounting to 177.5 Terawatt-hours in 2018.
