Sunday Nov 27, 2022

Solar Energy Market in South Africa: Utility Segment to Offer Maximum Business Opportunities | Growth, Trends, Major Companies, and Forecasts (2022 – 2026) – PR Newswire

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Solar Energy Market in South Africa Facts at a Glance-

  • Total Pages: 120
  • Companies: 10+ – Including ARTsolar Pty Ltd., Canadian Solar Inc., Enel SPA, ENGIE SA, IBC Solar AG, JinkoSolar Holding Co. Ltd., Renenergy South Africa Pty Ltd., Jiangsu Seraphim Solar System Co. Ltd., SunPower Corp., and Trina Solar Co. Ltd. among others
  • Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
  • Segments: End-user (utility and rooftop) and Application (grid-connected and off-grid)

Segmentation Analysis & Forecasts

The solar energy market share growth in South Africa by the utility segment will be significant during the forecast period. The growth is attributed to the huge number of installations of large-scale solar power plants to generate clean energy and reduce carbon emissions. Furthermore, it can also be stored in energy storage systems for using it when there is no sunlight. Such factors will drive the adoption of utility-scale solar power in the country during the forecast period.

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Vendor Insights-

The solar energy market in South Africa is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.

  • ARTsolar Pty Ltd.- The company manufactures crystalline solar panels. Moreover, the company also offers solar energy products under the brand name of Alpha.
  • Canadian Solar Inc.- The company operates under CSI Solar and Global Energy business segments. Moreover, the company also offers solar energy products under the brand name of BiHiKu7.
  • Enel SPA- The company operates under Thermal Generation and Trading, Enel Green Power, Infrastructure and Networks, End-user markets, Enel X, and Services business segments. Moreover, the company also offers services of solar energy to across the globe.

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Latest Drivers & Trends of the Market-

  • Solar Energy Market in South Africa Driver:
    • Sunny climatic conditions:

One of the key factors driving the solar energy market growth in South Africa is the sunny climatic conditions, as it is located in a latitude zone where the incidence of solar radiation is substantially higher than the rest of the globe. Solar energy began to gain traction in 2017, with total capacity increasing to 7.8 gigawatts by 2020. The rise in energy demand started to overwhelm the existing power generating plants in South Africa. The government policies and increased investments in solar PV projects to increase the installed solar PV capacity of the country in the coming years. Under REIPPP, …….

Source: https://www.prnewswire.com/news-releases/solar-energy-market-in-south-africa-utility-segment-to-offer-maximum-business-opportunities–growth-trends-major-companies-and-forecasts-2022—2026-301480518.html

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