The installation and maintenance of distributed solar power generation systems requires technical expertise, which might hinder the growth of the Distributed Solar Power Generation System Market in certain regions due to the shortage of technical experts. Also, lack of resources and technological awareness could hinder the consumer transition from conventional energy to solar energy, generated by distributed solar power generation systems.
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Electricity generated in a household or company for individual use is distributed with a solar power generation system. A distributed solar power generation system comprises an array of solar panels that are installed on an open ground, roof top or wall. Distributed solar power generation systems utilize the sun’s energy, instead of primary resources, to generate environment-friendly, low-cost and clean electricity. These systems include photovoltaic (PV) and concentrated solar power (CSP). Poly-crystalline, mono-crystalline and thin films are the different types of photovoltaic glass used in a distributed solar power generation system.
Distributed Solar Power Generation Systems: Market Drivers and Challenges
Renewable energy, such as solar energy, generated from a distributed solar power generation system has tremendously advanced in recent years, owing to recent innovations & increasing awareness. Distributed solar power generation systems have the potential to provide clean and economical energy to a huge portion of the population. If properly harnessed, distributed solar power generation systems have the capacity to provide inexpensive energy in tropical climate countries that receive abundant sunlight. Investors throughout the world are making huge investments in small-scale renewable solutions, such as distributed solar power generation systems, and thus, the distributed solar power generation market is pegged to witness sound growth in terms of capacity as compared to any other clean-energy technology over the next half decade.
Further, prominent manufacturers of distributed solar power generation systems are inclining towards LEED certification for their distributed solar power generation offerings. Leadership in Energy & Environment Design (LEED) certification is a globally recognized certificate by the U.S. Green Building Council (USGBC), which offers green framework for residential and commercial infrastructure, such as distributed solar power generation systems. Also, it rates a company’s solar products; for instance, distributed solar power generation systems, on the basis of their environmental sustainability, thus approving the product’s integrity, which in turn will promote the market for distributed solar power generation systems.
The operating cost of electricity generated from distributed solar power generation systems has an advantage over electricity generated from non-renewable energy sources as it is much more economical. Distributed solar power generation systems have the potential to emerge as the best solution for areas that do not have access to electricity or have uncertain availability.
Attributing to the slump in distributed solar power generation system prices due to the narrowing gap between solar energy generation cost and other related costs as well as the increase in the number of governmental subsidies being granted to distributed solar power generation system manufacturers, the distributed solar power generation systems market is anticipated to witness strong growth. The formation of alliances is also contributing to the growth of the distributed solar power generation systems market. For example, the ISA (International Solar Alliance), an alliance of over 120 countries led by France & India, aims to take joint efforts to decrease the cost of distributed solar power generation systems and provide a platform to solar rich regions located near or on the topic of Capricorn and Cancer to engage in solar energy production activities.
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Moreover, the limited understanding of the regional rural market and poor knowledge of consumer preference have furthermore resulted in a lack of customization of the technology in the distributed solar power generation systems market.
Distributed Solar Power Generation Systems: Regional Outlook
Among all the regions in the global distributed solar power generation systems market, Europe is expected to register the healthiest rate of growth in the global distributed solar power generation systems market, owing to the implementation of stringent regulations on emission control. The Europe market is expected to retain its significant growth rate in the global distributed solar power generation systems market over the forecast period. The distributed solar power generation systems market in North America is expected to register a notable growth rate. The growth of the distributed solar power generation systems market in North America can be attributed to the consumer inclination towards green energy. Further, significant demand for energy in China, due to urbanization, coupled with the slump in solar price, and governmental support in the country are anticipated to hold a sizable share in the global distributed solar power generation systems market.
Distributed Solar Power Generation Systems: Market participants
Examples of some of the market participants in the global distributed solar power generation systems market identified across the value chain include:
- Nippon Sheet Glass Co., Ltd
- Asahi Glass Co., Ltd.
- First Solar
- Yingli Solar
- Taiwan Glass Ind. Corp.
- Hanergy Holding Group Limited
- Jinko Solar
- Trina Solar
- Canadian Solar
- Flat Glass Group Co., Ltd.
- Xinyi Energy Holdings Limited
- Borosil Glass Works Ltd.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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