Market Size of South Africa Solar Photovoltaic (PV) Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Volume (2024) | 6.05 gigawatt |
| Market Volume (2029) | 10.27 gigawatt |
| CAGR (2024 - 2029) | 11.17 % |
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?
South Africa Solar Photovoltaic (PV) Market Analysis
The South Africa Solar Photovoltaic Market size is estimated at 6.05 gigawatt in 2024, and is expected to reach 10.27 gigawatt by 2029, growing at a CAGR of 11.17% 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, declining solar PV modules and associated system costs coupled with supportive government policies are also expected to drive the growth of the market studied.
- On the other hand, increasing competition from alternative renewable energy sources such as onshore wind power, small-hydropower, and bioenergy may negatively impact the market's growth and is one of the major restraints for the market.
- Nevertheless, Due to increasing power outages in the country leading to the electricity crisis and increasing demand for continuous power, are expected to provide growth opportunities in the forecast period.
