COVID-19: A Key Market Restraint to Impact on Distributed Solar Power Generation Market

Introduction

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.

Competitive Players

1. Suntech Power Holding Co. Ltd. 
2. Trina Solar Ltd 
3. Canadian Solar Inc. 
4. Yingli Green Energy Holding Co. Ltd. 
5. Schott Solar Ag 
6. Leonics Company Limited 
7. Hanwha Group 
8. Solar City 
9. Sharp Corporation 
10. Solar World Ag 
11. Chu Lun Sing Co., Ltd. 
12. GreenBrilliance 
13. Suniva Inc.
14. Jinko Solar Holding Company Ltd 
15. Sun Power Corporation 
16. Itek Energy 
17. First Solar Inc. 

Recent Developments

Recent Developments

• February 2024- Distribution generation (DG) solar expansion by Nextracker with two new strategic value-added reseller partners and over 600 DG projects. Customers employing Nextracker's NX Horizon solar tracker system have achieved considerable energy gains, delivering over 600 DG projects. 

Segmentation

1. By Product Type
   1. Monocrystalline (Mono-SI)
   2. Polycrystalline (p-Si)
   3. Amorphous Silicon (A-Si)
   4. Concentrated PV Cell (CVP)
2. By Installation
   1. Ground Mounted
   2. Roof-Top
3. By Application
   1. On-Grid
   2. Off Grid
4. By End-Use Industry
   
   1. Residential
   2. Commercial
   3. Utility-Scale