Distributed Solar Power Generation Market Size (2024 - 2029)

The Distributed Solar Power Generation Market is projected to experience significant growth over the forecast period, driven by increasing environmental concerns and supportive government policies offering incentives for solar panel installations. Despite challenges such as the limited capacity of distributed solar to serve as a primary power source, technological advancements like perovskite-based PV cells present promising opportunities for expansion. The Asia-Pacific region, particularly countries like China and India, is expected to lead in market growth due to rising demand and environmental awareness.

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Market Size of Distributed Solar Power Generation Industry

Distributed Solar Power Generation Market Summary
Study Period 2020 - 2029
Market Size (2024) USD 149.72 Billion
Market Size (2029) USD 209.69 Billion
CAGR (2024 - 2029) 6.97 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Distributed Solar Power Generation Market Major Players

*Disclaimer: Major Players sorted in no particular order

Distributed Solar Power Generation Market Analysis

The Distributed Solar Power Generation Market size is estimated at USD 149.72 billion in 2024, and is expected to reach USD 209.69 billion by 2029, growing at a CAGR of 6.97% 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, rising environmental concerns and government policies for incentives and tax benefits for solar panel installation, high cost of grid expansion are also expected to drive the growth of the market studied.
  • On the other hand in ability of distributed solarto serve as aprime power source may negatively impact the market's growth and is one of the major restraints for the market.
  • Nevertheless, Technological advancements such as perovskite-based PV cells which offers high ease of manufacture, high efficiency, and excellent semiconductor behaviour, are expected to provide growth opportunities in the forecast period.
  • The Asia-Pacific region dominates the market and is also likely to witness the highest CAGR during the forecast period. The growth is mainly driven by the majority of the demand coming from the countries such as the China and India, over rising environmental concerns.

Distributed Solar Power Generation Industry Segmentation

Solar energy is one of the significant renewable power sources offering clean energy to the world in replacing fossil fuels in electricity generation. Solar power installations have witnessed a massive rise over the past decade globally. 

The distributed solar power generation market is segmented by geography. The report covers the market size and forecasts for the distributed solar power generation market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).

Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Distributed Solar Power Generation Market Size Summary

The distributed solar power generation market is poised for significant growth, driven by increasing environmental concerns and supportive government policies offering incentives and tax benefits for solar panel installations. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. Technological advancements, such as the development of perovskite-based photovoltaic cells, are expected to create new growth opportunities. However, the market faces challenges, including the limited ability of distributed solar to serve as a primary power source. The Asia-Pacific region, particularly China and India, dominates the market, benefiting from rising demand due to economic growth and urbanization, as well as inefficiencies in power grid infrastructure.

The decline in the cost of solar photovoltaic (PV) panels and batteries has been a significant driver of the distributed solar energy market. The reduction in prices has made solar PV systems more accessible, encouraging residential and commercial consumers to adopt rooftop solar solutions. This trend is expected to continue, supported by economies of scale and improved manufacturing processes. The fragmented market features key players like Suntech Power Holdings, First Solar, Tesla, and Canadian Solar, among others. Collaborative efforts, such as those by GreenYellow in Brazil and Smart Power India with Adani Solar, aim to expand solar energy usage in various regions, further bolstering market growth during the forecast period.

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Distributed Solar Power Generation Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Market Dynamics

      1. 1.4.1 Drivers

      2. 1.4.2 Restraints

    5. 1.5 Supply Chain Analysis

    6. 1.6 Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Consumers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitutes Products and Services

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Geography

      1. 2.1.1 North America

      2. 2.1.2 Europe

      3. 2.1.3 Asia-Pacific

      4. 2.1.4 South America

      5. 2.1.5 Middle-East and Africa

Distributed Solar Power Generation Market Size FAQs

The Distributed Solar Power Generation Market size is expected to reach USD 149.72 billion in 2024 and grow at a CAGR of 6.97% to reach USD 209.69 billion by 2029.

In 2024, the Distributed Solar Power Generation Market size is expected to reach USD 149.72 billion.

Distributed Solar Power Generation Market Report Snapshots

Distributed Solar Power Generation Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)