Trinidad and Tobago Solar Energy Market - Growth, Trends, and Forecast (2020-2025)

The Trinidad and Tobago solar energy market is expected to register a CAGR of more than 0.8% during the forecast period of 2020 – 2025. Factors, such as rising environmental concerns and high cost of grid expansion, are expected to be major drivers for the market. Also, advancement in technology, leading to solar panel manufacturing cost reduction and increase in efficiency, has been a major factor for the growth of the Trinidad and Tobago solar energy market. However, the lack of interest by international companies to develop utility-size solar power projects in the country has hampered the growth of the market.

• The gradual shift from energy generation using conventional sources, such as coal and natural gas, to clean energy is expected to drive the Trinidad and Tobago solar energy market.
• The country is actively working toward developing its solar energy resource by floating various tenders. This is expected to create a huge opportunity for solar market players in the country.
• Trinidad and Tobago is expected to witness significant growth during the forecast period, over rising environmental concerns, economic benefits of solar power generation, and higher dependency on solar power for electricity during power cuts.