How Fast Is The Distributed Solar Power Generation Market Expected to Grow Between 2025 And 2029?
The market size for distributed solar power generation has seen significant expansion in the past few years. Its projected growth is set to increase from $140.05 billion in 2024 to $151.48 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. This surge in the historical period is a direct result of government incentives and policies, heightened environmental consciousness, grid resilience along with decentralization, decreased costs of installation, and energy independence.

Anticipated to witness robust expansion in the imminent years, the market size of distributed solar power generation is predicted to reach $193.93 billion by 2029, experiencing a compound annual growth rate (CAGR) of 6.4%. The surge in expected growth during this period can be credited to improvements in energy storage and smart grid integration, as well as escalating energy demand and worldwide climate pacts. The forecast period will also see major trends such as enhancements in technology, inventive financing schemes, amplified emphasis on energy equity, the advent of digitalization and IoT integration, and the emergence of hybrid renewable energy systems.

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What External and Internal Drivers Are Contributing to the Growth of the Distributed Solar Power Generation Market?
The growth of the distributed solar power generation market is being fueled by the rising demand for electricity and its utilization during the projected period. Factors like urbanization, industrialization, technological progress, and lifestyle changes are contributing to the heightened need for electricity and its use. Generating power on-site, distributed solar power generation lessens the total demand for grid-supplied electricity, reducing the requirement for grid power during daylight hours and easing the pressure on utility infrastructure. To illustrate, in June 2023, a 2.3% growth in total global electricity generation during 2022 was reported by the Energy Institute (EI), a UK-based body for energy professionals. Likewise, non-OECD (The Organization for Economic Co-operation and Development) countries saw a surge in primary energy consumption by 20.5 EJ from pre-COVID times, with China’s growth of 14.6 EJ making up 72% of this increase. As a result, the soaring demand for electricity could spur the development of the distributed solar power generation market.

What Segment Types Define the Distributed Solar Power Generation Market Structure?
The distributed solar power generation market covered in this report is segmented –

1) By Technology: Concentrated Solar Power Systems, Photovoltaic Systems
2) By Solar Module: Polycrystalline, Amorphous Silicon Cells, Cadmium Telluride, Monocrystalline, Other Solar Modules
3) By End-User: Industrial, Residential, Commercial, Other End-Users

Subsegments:
1) By Concentrated Solar Power (CSP) Systems: Parabolic Trough Systems, Solar Power Towers, Dish Stirling Systems, Linear Fresnel Systems
2) By Photovoltaic (PV) Systems: Monocrystalline Silicon PV, Polycrystalline Silicon PV, Thin-Film PV, Organic Photovoltaic (OPV) Systems, Perovskite Solar Cells

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Which Geographic Areas Hold the Strongest Growth Potential in the Distributed Solar Power Generation Market?
Asia-Pacific was the largest region in the distributed solar power generation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the distributed solar power generation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Long-Term Trends Are Transforming the Competitive Landscape of the Distributed Solar Power Generation Market?
Leading companies in the distributed solar power generation market are emphasizing the development of innovative products, like photovoltaic inverters, to enhance their effectiveness, reliability and integration capabilities. This approach propels the global growth and acceptance of solar energy solutions. By ensuring the electricity produced by solar panels can be suitably utilized by electrical appliances and contributed to the grid, these solutions optimize the efficiency and performance of solar photovoltaic (PV) installations. A case in point occurred in November 2023 when China-based SOFARSOLAR Co., Ltd, a firm that manufactures and supplies solar inverters and related equipment for the distributed solar power generation market, introduced the PowerMega (350KTLX0). This is a 350 kW utility PV inverter explicitly engineered to satisfy the needs of utility-scale projects in India and other countries across the globe. This cutting-edge inverter sets a new standard in the industry by achieving maximum efficiency of 99.05% even at heights of up to 50 degrees Celsius. Apart from possessing ultra-high current integration, simplified installation, and intelligent protection mechanisms, it accommodates high-power modules of 500Wp and more with its 8*60 A multiple Maximum Power Point Trackers (MPPTs). This leads to a reduced Levelized Cost of Electricity (LCOE) and maximized returns for users.

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What Is the Definition of the Distributed Solar Power Generation Market?
Distributed solar power generation refers to generating electricity from solar energy using a network of small-scale solar photovoltaic (PV) systems installed in various locations, such as rooftops, building facades, or nearby land areas where the electricity is consumed. These systems are smaller than centralized power plants, ranging from residential rooftops to larger commercial installations, with up to 10 megawatts (MW) capacities.

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