Latest News- Distributed Solar Power Generation Market: On-grid is expected to lead the Installation Sites segment during 2025-2029

The Distributed Solar Power Generation Market is being driven by Increasing investments in renewable energy

The Distributed Solar Power Generation Market is expected to grow at a CAGR of 5.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 55.2 billion. In the realm of power generation, distributed solar microgrids represent a significant advancement in energy management. These microgrids, which encompass both generation and storage resources within defined parameters, offer the flexibility to operate autonomously or collaboratively with neighboring grids. When integrated with the main power grid, these systems are termed hybrid microgrids, enabling seamless grid connectivity and disconnection for grid-connected and island operation. Microgrids assume heightened importance in regions characterized by unstable power grids and frequent outages. By functioning as independent power sources, these systems can prevent widespread power disruptions, ensuring business continuity and energy security. Microgrids' ability to shift between grid-connected and island modes makes them a valuable asset in maintaining power stability and reliability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Installation Sites
  • On-grid
  • Off-grid
• End-user
  • Commercial
  • Industrial
  • Residential
• Type
  • Mono-SI
  • p-Si
  • A-Si
  • CVP
• Location
  • Ground mounted
  • Roof-top
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing investments in renewable energy
• Declining cost of solar PV panels
• Rising electricity demand and high cost of grid expansion

However, the market also witnesses some limitations, which are as follows:

• Complexities associated with distributed solar PV system components
• Intermittency and low efficiency of solar power systems
• Competition from alternate distributed power generation technologies

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Market Scope in Distributed Solar Power Generation Market Research Report

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Research Analysis Overview

The Distributed Solar Power Generation Market encompasses various aspects including solar irradiance and resource assessment for maximizing energy yield. System sizing and performance optimization ensure efficiency, while energy arbitrage, peak shaving, and load shifting enhance grid reliability and energy resilience. Distributed control and microgrid management facilitate P2P energy trading through blockchain technology and renewable energy certificates. Solar asset management, solar bonds, and green bonds promote sustainable finance and ESG investing. Carbon footprint reduction is achieved through life cycle analysis and circular economy practices. Green hydrogen, solar-powered water desalination, solar agriculture, and charging stations expand solar applications. Energy storage technologies, including flow batteries, thermal energy storage, and hydrogen storage, ensure consistent power supply. Solar thermal power through parabolic trough, power tower, and solar dish systems further expand the market scope.

Market Research Overview

In the expansive renewable electricity market, distributed solar power generation represents a significant segment, encompassing businesses involved in the manufacturing and installation of solar panels, solar inverters, energy storage systems, and the development and implementation of grid-tied, off-grid, and hybrid solar power systems. The market's growth is fueled by robust policies and ambitious targets encouraging the adoption of renewable energy sources. Independent power producers, gas and power marketing specialists, integrated energy merchants, and renewable electricity companies all contribute to the market's sizeable revenue. Additionally, the sector benefits from the increasing demand for raw materials and equipment essential to the solar power industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/