COVID-19: A Key Market Restraint To Impact On Distributed Solar Power Generation Market
Date
7/19/2024 1:29:11 AM
(MENAFN- Straits Research)
Distributed solar power energy generation can be referred to as the production of electricity through solar panels, which can be positioned on rooftops or ground-mounted. The distributed power generation systems can be connected to the local utility grid to address the energy demand of the residential and commercial sectors. Debouching energy-saving trends, increasing focus on carbon emission, declining prices of solar PV modules, and government initiatives drives the market growth.
Impact of COVID-19
The COVID-19 outbreak has resulted in a sharp decline in terms of renewable electricity generation. As per the International Energy Agency (IEA), the renewable electricity capacity is projected to decline by 13% in 2020. Additionally, China's share in the global PV modules market declined from 55% in 2017 to less than 30% in 2019. In contrast to 2019, the outlook of the power sector in 2020 has become dubious as the outbreak has led to several macroeconomic challenges that have prompted in the delay or suspension of investment decisions. Additionally, the social distancing guidelines and lockdown measures have disrupted the supply chain, further hampering the market growth. As per IEA, the revised capacity of solar PV addition is anticipated to decelerate by over 15% by 2020.
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Key Players
Suntech Power Holding Co. Ltd.
Trina Solar Ltd
Canadian Solar Inc.
Yingli Green Energy Holding Co. Ltd.
Schott Solar Ag
Leonics Company Limited
Hanwha Group
Solar City
Sharp Corporation
Solar World Ag
Chu Lun Sing Co., Ltd.
GreenBrilliance
Suniva Inc.,
Jinko Solar Holding Company Ltd
Sun Power Corporation
Itek Energy
First Solar Inc.
Distributed Solar Power Generation Market: Segmentation
By Product Type
Monocrystalline (Mono-SI)
Polycrystalline (p-Si)
Amorphous Silicon (A-Si)
Concentrated PV Cell (CVP)
By Installation
Ground Mounted
Roof-Top
By Application
On-Grid
Off-Grid
By End-Use Industry
Residential
Commercial
Utility-Scale
By Region
North America
The U.S.
Canada
Mexico
Europe
Germany
France
The U.K.
Italy
The Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
The Rest of Asia-Pacific
Central and South America and the Caribbean
Argentina
Brazil
Colombia
The Rest of Central and South America and the Caribbean
The Middle East
Saudi Arabia
The UAE
Qatar
Oman
Turkey
The Rest of the Middle East
Africa
Nigeria
South Africa
The Rest of Africa
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods
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