Market Size of North America Distributed Power Generation Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Distributed Power Generation Market Analysis
The North American distributed power generation market is expected to record a CAGR of more than 7% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the long term, rising environmental concerns, increasing government policies for incentives and tax benefits for solar panel installation, and the high cost of grid expansion are expected to significantly drive the market.
- However, a reduced tax credit for solar power generation in the United States from 2022 is expected to slightly hamper the growth of the market during the forecast period.
- Commercial and industrial sectors are showing a growing interest in distributed solar power generation due to various economic benefits. Distributed solar power also acts as a constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This factor is expected to create a huge opportunity for distributed power generation market in the region.
- The United States is expected to dominate the market over rising environmental concerns and economic benefits of domestic distributed power generation.
