Market Size of New Zealand Solar Energy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
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*Disclaimer: Major Players sorted in no particular order |
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New Zealand Solar Energy Market Analysis
During the time frame of the forecast, the New Zealand solar energy market is expected to register a CAGR of more than 3%.
In 2020, COVID-19 negatively impacted the market. Presently, the market has reached pre-pandemic levels.
- Over the next few years, the solar energy market is likely to grow as the price of solar power technology goes down, installation methods get better, and more people become interested in distributed solar power generation.
- On the other hand, support and investments in other clean energy sources like hydro, geothermal, wind, biomass, etc. are expected to slow the growth of the solar energy market during the forecast period.
- Nevertheless, New Zealand population growth and the rising electrification of heat and transport, the power demand is likely to rise to 70 TWh by 2050. Such a scenario, in turn, is expected to create vital opportunities for solar power players in the future.
