Market Size of China 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 | > 10.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Distributed Solar Power Generation Market Analysis
The Chinese distributed solar power generation market is expected to register a CAGR of more than 10% during the forecast period, 2020-2025. Factors, such as rising environmental concerns and high cost of grid expansion, are expected to be the major drivers driving the market. Additionally, advancement in technology leading to solar panel manufacturing cost reduction and increase in efficiency has been a significant factor for the growth of China's distributed solar power generation market. However, recent cuts in subsidies for solar power generation in the country 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 China distributed solar power generation market.
- Commercial and industrial sectors are increasingly showing interest in distributed solar power generation, due to various economic benefits and a constant source of energy to eliminate downtimes and equipment damage, due to voltage fluctuations in conventional power grids. This has created a huge opportunity for distributed solar power generation market in the region.
- The country accounts for over 30% of global solar energy generation, amounting to 177.5 TWh in 2018. Therefore, China is expected to play a crucial role in the Asia-Pacific distributed solar power generation market as well in the coming years.
