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

Wed, 15 July 2020 7:10

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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