Distributed Solar Power Generation Market - Growth, Trends, and Forecast (2020-2025)

The market is segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

Greater Than 10 %

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Market Overview

The global distributed power generation market is expected to grow at a CAGR of more than 10% during the forecast period of 2020 – 2025 of which Solar Power based systems are expected to be the fastest growing market. 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 Distributed Solar Power Generation Market. However, lack of general awareness and interest in the technology in the Asia-Pacific region 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.
  • Asia Pacific is expected to dominate the market with majority of the demand coming from the countries such as the China and India, over rising environmental concerns. Asia Pacific accounts for over 53% of global solar energy generation, amounting to 314.2 Terawatt-hours in 2018.

Scope of the Report

The distributed solar power generation market report include:

Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa

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Key Market Trends

Increasing Demand for Clean Electricity

  • Globally, distributed solar PV capacity is forecast to increase by over 200% during the forecast period, reaching more than 500 GW by 2024. Compared with the previous six-year period, expansion is expected to more than double, with the share of distributed applications in total solar PV capacity growth increasing from 36% to 45%. 
  • 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 remain 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.

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Asia Pacific to Dominate the Market

  • Asia-Pacific has dominated the distributed solar power generation market in 2018 and is expected to continue its dominance in the coming years as well. The region holds vast potential for the expansion of distributed energy systems (DES), notably in the form of off-grid and residential solar. Inefficiencies in the power grid infrastructure, power supply shortages, and the scalability of decentralized technology pave way for the deployment in the region, particularly in China and India.
  • Currently distributed solar PV accounts for over 27% of China’s total solar PV installed capacity. In 2017 China generated around 13.7 TWh of electricity, which is estimated to be enough to meet all energy requirements of all residential consumers of Beijing for 7.5 months.
  • With the rising pollution concerns across the world due to industrialization, especially in Asia-Pacific, the regional solar power generation has gained considerable momentum.
  • Moreover, various government initiatives, such as incentives and energy saving certificates by the governments in India, China, Malaysia, and Thailand, are also expected to encourage commercial units to adapt to distributed solar power generation during the forecast period.

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Competitive Landscape

The distributed solar power generation market is fragmented with a lot of players. Some of the major companies are Wuxi Suntech Power Co. Ltd, First Solar Inc., Juwi Solar Inc., and SolarCity Corporation, among others.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Market Dynamics

      1. 4.4.1 Drivers

      2. 4.4.2 Restraints

    5. 4.5 Supply Chain Analysis

    6. 4.6 Porter's Five Forces Analysis

      1. 4.6.1 Bargaining Power of Suppliers

      2. 4.6.2 Bargaining Power of Consumers

      3. 4.6.3 Threat of New Entrants

      4. 4.6.4 Threat of Substitutes Products and Services

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography

      1. 5.1.1 North America

      2. 5.1.2 Europe

      3. 5.1.3 Asia-Pacific

      4. 5.1.4 South America

      5. 5.1.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Wuxi Suntech Power Co. Ltd

      2. 6.3.2 First Solar Inc.

      3. 6.3.3 Juwi Solar Inc.

      4. 6.3.4 SolarCity Corporation

      5. 6.3.5 Active Solar GmbH

      6. 6.3.6 Yingli Solar

      7. 6.3.7 Trina Solar Limited

      8. 6.3.8 Sharp Solar Energy Solutions Group

      9. 6.3.9 Canadian Solar Inc.

      10. 6.3.10 JinkoSolar Holding Co. Ltd.

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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