Solar Energy Market Outlook and Size Report by Type of Energy, by Applications, by Capacity, and by demand (2018-2028)
Environmental friendly policies are diversifying the global energy mix and helping renewable to increase its market share. The shift towards renewable is relatively faster in developed markets where environmental regulations are strict and incentives are higher. Solar power is one of the growing and emerging energy sectors which has been benefiting significantly from current legislation and disruptive technologies.
We assess that the global solar power market grew from just 13 TWh in 2008 to 375 TWh in 2017. Developed markets remained at the forefronts in promoting the solar power market. Although, developing markets are lagging behind in the race but has recently shown sharp growth through the residential sector. Whereas the developed markets are working on energy storage solutions to help them save excesses energy, developing markets are still struggling to have enough power. About one billion people still have no access to electricity.
The lack of power infrastructure and rolling blackouts, solar panels technology has become an ideal solution. Solar Home Systems (SHS) is supporting in filling the electrification gap in developing markets. SHS will revolutionize the energy sector in developing countries, though its widespread adoption depends on factors such as government support, affordability, cost of installations etc. Solar power will continue to help in reducing pressure on the national grid which is a relief for the governments during peak times.
The falling modules and installation costs have increased the adoption rates globally. We expect that the market share of solar power in the total energy mix will reach around 4% by 2028. Most of the regions will exhibit a double-digit growth for at least in the coming five years. Commodity Inside anticipates that North East Asia will continue to dominate the market with China playing a key role.
Wind power will be a major competitor, but solar energy has an advantage over it due to low Capex. The economics of solar power is also getting better. Its cost-competitiveness has increased over the past ten years which is supporting the adoption rates particularly in developing markets. The overall cost of rooftop solar PV (photovoltaic) systems has almost halved in some major markets over the past ten years. The cost has declined as a result of the fall in upstream costs, mainly equipment. Commodity Inside expects that there would be further reductions in module costs, as well as downstream costs, consisting of installation and service. Consequently, the overall costs to consumers will further decline over the next ten year supporting solar energy market.
Key questions the report answered:
- How is the solar energy market evolving by country and region?
- What will be the market size of the solar energy in 2018 and at what rate will the market grow over the next ten years?
- What trends, challenges and barriers are going to restrain the growth in the solar energy market?
- What opportunities will the solar energy market face going forward?
- Who are the key players in the solar energy market and what are their strategies?
- How is the market competing with other renewable energy sources?
- Would the government incentives continue for the solar power market?
- How are oil prices and environmental regulations affecting the solar power market?
- What are the value chain and component market of solar power?
The report covers the following
- Market sizing of solar energy in volume and revenue terms
- Ten years market forecasts of solar energy demand in terms of volume and revenue
- Discussions and impact assessment of major market trends and developments in the solar energy market over the next ten years
- Threats and growth opportunities in the solar energy market
- Solar energy market structure by country
- Market analysis of solar energy component market
- Market structure and profiles of major players in the industry
- Benchmarking of major producers in the solar panels market
- Solar panels and components market
- Market analysis by regions and countries
- Government incentives for the solar energy
- All the data is provided in MS Excel
Country-level solar energy demand forecasts for 56 courtiers
Asia: Bangladesh, China, India, Indonesia, Japan, Pakistan, Philippines, South Korea, Thailand, Vietnam, rest of Asia.
Europe: Austria, Azerbaijan, Belarus, Belgium, Bulgaria, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Kazakhstan, Lithuania, Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Spain, Sweden, Switzerland, Turkey, Ukraine, United Kingdom, rest of Europe.
Central and South America: Argentina, Brazil, Chile, Colombia, Ecuador, Peru, Venezuela, rest of Central and South America.
North America: Canada, Mexico, USA
Middle East, Africa and Oceania: Algeria, Australia, Egypt, Iran, Israel, New Zealand, South Africa, rest of Middle East, Africa and Oceania
Robust and authoritative
The Global Solar Energy Market Outlook 2018-2028 contains valuable resource necessary for examining the solar energy market. We have used both top-to-bottom and bottom-to-top methods to assess solar energy market and its dynamics.
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