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Distributed solar PV market size is estimated to exceed USD 150 billion by 2023.

11-08-2016 05:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: GMI

Descending solar PV market price trend, along with economical electricity prices offered is likely to drive the industry demand from 2016 to 2023.

DPV systems with production capacity of 100 kilowatts and less are likely to account for more than 30% of the total installation over the forecast period. Distributed solar PV production capacity was valued at 13.2 Giga watts in 2014 and it is estimated to exceed 17 Giga watts by 2023.

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Japan is anticipated to witness significant growth owing to flourishing number of installations of these systems. It is likely to account for more than 70% of the global DPV installations over the forecast period.

U.S. distributed solar PV market size is expected to experience substantial surge in the demand owing to presence of large installers that handle all the financing work in the region, likely to install more than 2.2 GW of DPVs from 2016 to 2023. The surge can be attributed to proliferating third party ownerships as well as net metering models in the industry.

California is expected to become largest renewable power market in U.S. flourishing implementation of these systems is estimated to account for more than 10% of the annual power generation by 2015. This in turn is likely to push California above all the major global solar PV markets in terms of total power generated form solar PV over the forecast period. This should help the large installers in claiming their tax credit and thus offering lower prices by monetizing tax credits and large supply Major players in the industry such as SolarCity are expected to offer this model for financing commercial PV systems.

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Europe distributed solar PV market share is expected to witness gains due to increasing government incentives accompanied by ascending number of installations in small commercial and residential sectors. Advent of Feed-in tariffs (FiT) in some major economies such as UK, Italy and Germany is anticipated to aid in generating substantial revenues. The FiT in Germany offered revenues between USD 0.34 to USD 42.34 per Kilo Watt hour in 2010 for the systems less than 100 Kilo watt capacity.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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