Distributed Solar Power Generation Market Size (2024 - 2029)

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).