United States Distributed Solar Power Generation Market - Growth, Trends, and Forecasts (2020 - 2025)
Distributed solar power generation is the generation of power from solar energy for personal use. The energy produced is not sent to a centralized grid rather is used directly in households, industries, and commercial centers.
ABOUT THIS REPORT
Scope of the report
Key Market Trends
TABLE OF CONTENTS
Need a report that reflects how COVID-19 has impacted this market and its growth?
The United States distributed solar power generation market is expected to grow at a CAGR of more than 10% 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 driving 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 United States distributed solar power generation market. However, widespread usage of hydropower for electricity generation in the country has somewhat hampered the growth of the market.
The gradual shift from energy generation from conventional sources such as coal and natural gas to clean energy is expected to help grow the United States distributed solar power generation market.
Commercial and industrial sectors are showing a growing interest in distributed solar power generation, due to various economic benefits and a constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This have created a huge opportunity for distributed solar power generation market in the region.
United States is expected to witness a significant growth in forecast period, over rising environmental concerns and economical benefits of domestic distributed solar power generation. The country accounts for over 10% of global solar capacity and over 16% of global wind capacity 2018.
Scope of the report
The United States distributed solar power generation market report include:
Report scope can be customized per your requirements. Click here.
Key Market Trends
Increasing Demand for Clean Electricity
Increasing demand for clean energy is one of the primary drivers for the distributed solar power generation market in the country. The country is actively shifting from conventional energy-producing sources to clean energy sources and produced over 16.7% of the total electricity generated from hydropower and renewables combined.
Rooftop solar offers the benefits of modern electricity services to households that had no access to electricity, reducing electricity costs on islands and in other remote locations that are dependent on oil-fired generation, as well as enabling residents and small businesses to generate their own electricity.
Commercial and industrial systems are expected to become the largest growth segment because they are usually more inexpensive and have a relatively stable load profile during the day that can enable larger savings on electricity bills, depending on the policy scheme in place.
Therefore, the aforementioned factors are expected to drive the market in forecast period.
To understand key trends, Download Sample Report
Electricity Generation from Hydropower to Restraint the Market
Hydropower in the country has had a long history of providing clean and clean energy for a long time. The country has an installed capacity of 103,000 MW of hydropower and produced over 288.7 TWh of electricity, in 2018.
The country has a history of over a decade of electricity generation from hydropower starting before 1900. The country has about 80GW in conventional hydropower and 23 GW in pumped storage hydropower.
Hydropower maintains an edge over other renewable energy resources in the country due to its reliability in cold and harsh weather faced by the northern part of the country.
Therefore, the harsh weather in the country in winters and more reliability on hydropower are expected to be the major restraint of the distributed solar power generation market in the country.
To understand geography trends, Download Sample Report.
The United States distributed solar power generation market is partially fragmented with a lot of big and small players. Some of the major companies are First Solar Inc, Juwi Solar Inc., Solarcity Corporation, Yingli Solar, Wuxi Suntech Power Co. Ltd. among others.