Market Trends of Canada Distributed Solar Power Generation Industry
This section covers the major market trends shaping the Canada Distributed Solar Power Generation Market according to our research experts:
Increasing Demand for Clean Electricity
- Increasing demand for clean energy is one of the primary drivers for the distributed solar power generation market in the country. The country has one of the cleanest electricity systems in the world, with over 66% electricity produced from hydropower and renewables combined.
- Rooftop solar offers the benefits of modern electricity services to households that had no access to electricity, reducing electricity costs on islands and in other remote locations that are dependent on oil-fired generation, as well as enabling residents and small businesses to generate their own electricity.
- Commercial and industrial systems are expected to become the largest growth segment because they are usually more inexpensive and have a relatively stable load profile during the day that can enable larger savings on electricity bills, depending on the policy scheme in place.
- Therefore, the aforementioned factors are expected to drive the market in forecast period.
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Electricity Generation from Hydropower to Restraint the Market
- Canada is the world's second-largest hydropower producer after China. The country has an installed capacity of 81,000 MW of hydropower and produced over 387.3 TWh of electricity in 2018.
- The country has a history of over a decade of electricity generation from hydropower starting before 1900. The country has over 500 hydropower plants spread across the country.
- Hydropower maintains an edge over other renewable energy resources in the country due to its reliability in cold and harsh weathers faced by the country. The country has on average less than 51% sunshine and faces extreme temperatures in winter which can go up to -40 C with simultaneous wind chills, both of which are not ideal conditions for wind and solar power generation.
- Therefore, the harsh weather in the country in winters and more reliability on hydropower are expected to be the major restraints for the distributed solar power generation market in the country during the forecast period.
