Market Size of South Africa Solar Energy Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 6.68 gigawatt |
| Market Volume (2029) | 11.03 gigawatt |
| CAGR (2024 - 2029) | 10.56 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Solar Energy Market Analysis
The South Africa Solar Energy Market size in terms of installed base is expected to grow from 6.68 gigawatt in 2024 to 11.03 gigawatt by 2029, at a CAGR of 10.56% during the forecast period (2024-2029).
- Over the medium term, the growing demand for clean energy sources is expected to stimulate the market growth of South Africa's solar energy market. Furthermore, efforts to reduce over-reliance on coal-based power plants will also likely drive the market's growth.
- On the other hand, the rising natural gas consumption is expected to restrain the South African solar energy market during the forecast period.
- Nevertheless, expanding the indigenous solar manufacturing industry will likely create lucrative growth opportunities for the South African solar energy market in the forecast period.
