Market Size of Distributed Solar Power Generation Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 149.72 Billion |
| Market Size (2029) | USD 209.69 Billion |
| CAGR (2024 - 2029) | 6.97 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Distributed Solar Power Generation Market Analysis
The Distributed Solar Power Generation Market size is estimated at USD 149.72 billion in 2024, and is expected to reach USD 209.69 billion by 2029, growing at a CAGR of 6.97% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, rising environmental concerns and government policies for incentives and tax benefits for solar panel installation, high cost of grid expansion are also expected to drive the growth of the market studied.
- On the other hand in ability of distributed solarto serve as aprime power source may negatively impact the market's growth and is one of the major restraints for the market.
- Nevertheless, Technological advancements such as perovskite-based PV cells which offers high ease of manufacture, high efficiency, and excellent semiconductor behaviour, are expected to provide growth opportunities in the forecast period.
- The Asia-Pacific region dominates the market and is also likely to witness the highest CAGR during the forecast period. The growth is mainly driven by the majority of the demand coming from the countries such as the China and India, over rising environmental concerns.
