Press release
Distributed Solar Power Generation Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Distributed Solar Power Generation Market
The surge in demand for electricity, influenced by enhanced consumption, is a significant driver for the growth of the distributed solar power generation market in the projected period. The increasing rates of urbanization and industrialization, technological progress, and alterations in lifestyle habits are fueling the requirement for electricity and its utilization. Distributed solar power generation helps decrease the overall requirement for grid electricity by producing power on-premises, reducing the dependency on grid electricity during sunlight hours, and easing the pressure on utility infrastructure. For example, reported by the Energy Institute (EI), a professional membership organization for the energy sector based in the UK, total worldwide electricity generation grew by 2.3% in 2022 as recorded in June 2023. Additionally, primary energy consumption in non-OECD (The Organization for Economic Co-operation and Development) nations rose by 20.5 EJ from pre-pandemic levels, primarily driven by a rise of 14.6 EJ in China, making up 72% of the increase. Hence, the rising demand for electricity is anticipated to spur the expansion of the distributed solar power generation market.
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What is the future CAGR of the distributed solar power generation market, and how will it impact industry expansion?
The market size for distributed solar power generation has witnessed robust growth lately. Projected to rise from $140.05 billion in 2024 to $151.48 billion in 2025, it is expected to register a compound annual growth rate (CAGR) of 8.2%. Factors such as governmental incentives and policies, environmental consciousness, grid resilience and decentralization, lower installation costs, and energy autonomy have contributed to the growth observed during the historic period.
The market for distributed solar power generation is projected to significantly expand in the forthcoming years, reaching a worth of $193.93 billion in 2029 with a compound annual growth rate of 6.4%. This anticipated increase during the estimation period can be tied to breakthroughs in energy storage and smart grid integration, surging energy needs, and worldwide climate accords. Key trends expected to define the period of projection consist of technological progression, inventive financing structures, an amplified emphasis on energy equity, digitalization coupled with the integration of the Internet of Things, and hybrid renewable energy systems.
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What trends are poised to drive the future success of the distributed solar power generation market?
Key players in the global distributed solar power generation market are putting their efforts into crafting technologically superior products such as photovoltaic inverters, which are designed to enhance efficiency, reliability, and integration capacities. This, in turn, accelerates the growth and global uptake of solar energy alternatives. These solutions improve the effectiveness and overall performance of solar photovoltaic (PV) installations by making sure that the electricity produced by solar panels is readily usable by electric devices, and can be fed into the power grid. An example of this occurred in November 2023, when SOFARSOLAR Co., Ltd., a solar inverters and related equipment manufacturer based in China, introduced their PowerMega (350KTLX0), a 350 kW utility PV inverter designed specifically to meet the needs of utility-scale projects globally and in India. This innovative inverter has been precision-engineered for peak performance in utility solar applications, setting a new industry benchmark with up to 99.05% maximum efficiency even at high temperatures reaching 50 degrees Celsius. It offers ultra-high current integration, streamlined installation, and intelligent protection mechanisms. Equipped with 8*60 A multiple Maximum Power Point Trackers (MPPTs), it accommodates high-power modules of 500Wp and above, which minimizes the Levelized Cost of Electricity (LCOE), thus maximizing profits for users.
Which key market segments comprise the distributed solar power generation market and drive its revenue growth?
The distributed solar power generation market covered in this report is segmented -
1) By Technology: Concentrated Solar Power Systems, Photovoltaic Systems
2) By Solar Module: Polycrystalline, Amorphous Silicon Cells, Cadmium Telluride, Monocrystalline, Other Solar Modules
3) By End-User: Industrial, Residential, Commercial, Other End-Users
Subsegments:
1) By Concentrated Solar Power (CSP) Systems: Parabolic Trough Systems, Solar Power Towers, Dish Stirling Systems, Linear Fresnel Systems
2) By Photovoltaic (PV) Systems: Monocrystalline Silicon PV, Polycrystalline Silicon PV, Thin-Film PV, Organic Photovoltaic (OPV) Systems, Perovskite Solar Cells
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What regions are at the forefront of distributed solar power generation market expansion?
Asia-Pacific was the largest region in the distributed solar power generation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the distributed solar power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the distributed solar power generation market?
Major companies operating in the distributed solar power generation market are TotalEnergies SE, Huawei Technologies Co. Ltd., Tesla Inc., General Electric Co., Siemens Energy AG, ABB Ltd., NextEra Energy Inc., Sharp Corporation, LONGi Solar Technology Co. Ltd., JinkoSolar Holding Co. Ltd., JA Solar Holdings Co. Ltd., Canadian Solar Inc., Enel Green Power, Risen Energy Co. Ltd., Daqo New Energy Corp., Hanwha Q Cells Co. Ltd., Schneider Electric SE, SolarEdge Technologies Inc., First Solar Inc., Sunrun Inc., Enphase Energy Inc., Kyocera Corporation, SMA Solar Technology AG, SunPower Corporation, Suntech Power Holdings Co. Ltd., Vivint Solar Inc., Yingli Solar, Sharp Energy Solutions Corporation, SolarCity Corporation
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What Is Covered In The Distributed Solar Power Generation Global Market Report?
• Market Size Forecast: Examine the distributed solar power generation market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the distributed solar power generation market for a structured understanding.
• Key Players Overview: Analyze major players in the distributed solar power generation market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the distributed solar power generation market.
• Segment Contributions: Evaluate how different segments drive overall growth in the distributed solar power generation market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the distributed solar power generation market.
• Industry Challenges: Identify potential risks and obstacles affecting the distributed solar power generation market.
• Competitive Landscape: Review strategic developments in the distributed solar power generation market, including expansions, agreements, and new product launches.
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