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Asia-Pacific Distributed Solar Power Generation Market - Growth, Trends, and Forecasts (2020-2025)

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  • 100 Pages
  • May 2020
  • Region: Asia Pacific
  • Mordor Intelligence
  • ID: 5025280
The Asia-Pacific distributed solar power generation market is expected to grow at a CAGR of more than 12% during the forecast period of 2020-2025. Factors such as rising environmental concerns and government policies for incentives and tax benefits for solar panel installation, high cost of grid expansion are expected to be major drivers driving the market. Also, advancement in technology leading to solar panel manufacturing cost reduction and increase in efficiency have been a major factor for the growth of Asia-Pacific distributed solar power generation market. However, recent cuts in subsidies for solar power generation in China have somewhat hampered the growth of the market.
  • The gradual shift from energy generation from conventional sources such as coal and natural gas to clean energy is expected to help grow the distributed solar power generation market in the region.
  • Commercial and industrial sectors are showing growing interest in distributed solar power generation, due to various economical benefits and constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This have created a huge opportunity for distributed solar power generation market in the region.
  • China is expected to dominate the market, over rising environmental concerns and economical benefits of domestic distributed solar power generation. The country accounts for over 30% of global solar energy generation, amounting to 177.5 Terawatt-hours in 2018.

Key Market Trends

Increasing Demand for Clean Electricity to Drive the Market
  • Increasing demand for clean energy is one of the primary drivers for distributed solar poer generation market in the region. Distributed solar PV capacity in the region is expected to increase by over 47 GW by 2024, while commercial and industrial solar PV capacity is expected to increase by over 166.2 GW by 2024.
  • Rooftop solar offers the benefits of modern electricity services to households that had no access to electricity, reducing electricity costs on islands and in other remote locations that are dependent on oil-fired generation, as well as enabling residents and small businesses to generate their own electricity.
  • Commercial and industrial systems remain the largest growth segment because they are usually more inexpensive and have a relatively stable load profile during the day that can enable larger savings on electricity bills, depending on the policy scheme in place.

China to Dominate the Market
  • China has dominated the distributed solar power generation market in 2019 in the region and is expected to continue its dominance in the coming years as well. The country holds vast potential for the expansion of distributed energy systems (DES), notably in the form of off-grid and residential solar. Inefficiencies in the power grid infrastructure, power supply shortages, and the scalability of decentralized technology pave way for the deployment in the country.
  • Currently distributed solar PV accounts for over 27% of China’s total solar PV installed capacity. In 2017 China generated around 13.7 TWh of electricity, which is estimated to be enough to meet all energy requirements of all residential consumers of Beijing for 7.5 months.
  • With the rising pollution concerns across the world due to industrialization, especially in China, the regional solar power generation has gained considerable momentum.
  • Moreover, various government initiatives, such as incentives and energy saving certificates by the government in China, are also expected to encourage commercial units to adapt to distributed solar power generation during the forecast period.

Competitive Landscape

The Asia-Pacific distributed solar power generation market is fragmented. Some of the major companies in this market are Wuxi Suntech Power Co. Ltd, First Solar Inc., Juwi Solar Inc., Sharp Solar Energy Solutions Group, and Trina Solar Limited, among others.

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Table of Contents

1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
4.1 Introduction
4.2 Distributed Solar Power Installed Capacity and Forecast in GW, till 2025
4.3 Recent Trends and Developments
4.4 Market Dynamics
4.4.1 Drivers
4.4.2 Restraints
4.5 Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitutes Products and Services
4.6.5 Intensity of Competitive Rivalry
5.1 Geography
5.1.1 China
5.1.2 India
5.1.3 Japan
5.1.4 South Korea
5.1.5 Rest of Asia-Pacific
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Wuxi Suntech Power Co. Ltd
6.3.2 First Solar Inc.
6.3.3 Juwi Solar Inc.
6.3.4 JA Solar Holdings Co., Ltd.
6.3.5 Motech Industries Inc.
6.3.6 Shenzhen Yingli New Energy Resources Co., Ltd
6.3.7 Trina Solar Limited
6.3.8 Sharp Solar Energy Solutions Group
6.3.9 Mitsubishi Electric Corporation
6.3.10 JinkoSolar Holding Co. Ltd.
6.3.11 Toshiba Corp

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Wuxi Suntech Power Co. Ltd
  • First Solar Inc.
  • Juwi Solar Inc.
  • JA Solar Holdings Co., Ltd.
  • Motech Industries Inc.
  • Shenzhen Yingli New Energy Resources Co., Ltd
  • Trina Solar Limited
  • Sharp Solar Energy Solutions Group
  • Mitsubishi Electric Corporation
  • JinkoSolar Holding Co. Ltd.
  • Toshiba Corp