Market Size of Portugal Distributed Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 15.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Portugal Distributed Solar Energy Market Analysis
Portugal distributed solar energy market is expected to grow at a CAGR of around 15% during the forecast period. With the COVID-19 outbreak, the sector had not witnessed any significant negative impact. In 2020, Portugal deployed nearly 124 MW of solar PV projects. Though there was a slight delay in project execution during the H1 of 2020, the sector managed to install distributed solar projects in several residential, and commercial places in the country. Factors such as the declining price of solar PV module is expected to drive the market. However, the lack of financing options for rooftop solar is expected to hinder the market growth during the study period.
The residential segment is expected to witness significant growth in the Portugal rooftop solar market over the forecast period.
The south of Portugal has 3000 hours of sunshine per year, which is one of the best locations to conserve solar energy. Moreover, the country has set a goal of achieving 9 GW of solar energy by 2030. Hence, such a scenario creates ample opportunity for the country's distributed solar market to grow in the near future.
Supporting government initiatives is expected to drive the South Africa rooftop solar market during the forecast period.
