South Africa Solar Power Market: Utilities Segment Will Offer Maximum Business Opportunities | Growth, Trends, Major Companies and Forecasts (2022

Sunny climatic conditions coupled with the rise of renewable energy in transportation to drive the market growth

NEW YORK, February 14, 2022 /PRNewswire/ — Suppliers to the solar energy market in South Africa should focus on seizing business opportunities utility segment since it had the largest market share during the reference year.

Technavio has announced its latest market research report titled South Africa Solar Power Market by End User and Application – Forecast and Analysis 2022-2026

the Solar energy market share in South Africa is expected to grow by 23.31 TWh from 2021 to 2026, at an accelerated CAGR of 29.74% according to recent Technavio market research. The report provides a detailed analysis of drivers and opportunities, top winning strategies, competitive scenario, future market trends, market size and estimates, and major investment pockets.

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solar energy market in South Africa Quick Facts-

  • Total Pages: 120

  • Companies: 10+ – Including ARTsolar Pty Ltd., Canadian Solar Inc., Enel SPA, ENGIE S.A.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

  • Blanket: Main Drivers, Trends and Challenges; Product information and news; Value chain analysis; Parent market analysis; Landscape of vendors; COVID Impact and Recovery Analysis

  • segments: End user (utility and rooftop) and application (grid-connected and off-grid)

Segmentation analysis and forecasts

The growth of the market share of solar energy in South Africa by the utilities segment will be significant during the forecast period. The growth is attributed to the large number of large-scale solar power plant installations to generate clean energy and reduce carbon emissions. Moreover, it can also be stored in energy storage systems for use when there is no sunlight. These factors will lead to large-scale adoption of solar power in the country during the forecast period.

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Overview of Suppliers-

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

  • ARTsolar Pty Ltd.- The company manufactures crystalline solar panels. Additionally, the company also offers solar energy products under the Alpha brand.

  • Canadian Solar Inc.- The Company operates in CSI Solar and Global Energy business segments. Moreover, the company also offers solar energy products under the BiHiKu7 brand.

  • Enel SPA- The company operates under Thermal Generation and Trading, Enel green energy, Infrastructure and Networks, End User Markets, Enel X and Services. Additionally, the company also offers solar power services across the globe.

Find additional highlights on vendors and their product offerings. Download a free sample report

Latest Market Drivers and Trends-

One of the key factors driving the growth of the solar energy market in South Africa is the sunny climatic conditions, since it is located in a latitude zone where the incidence of solar radiation is significantly higher than the rest of the globe. Solar power began to gain traction in 2017, with total capacity increasing to 7.8 gigawatts by 2020. Rising energy demand began to overwhelm existing power plants in South Africa. Government policies and increased investments in solar PV projects to increase the installed solar PV capacity of the country in the coming years. Under the REIPPP, the country aims to install 8,400 megawatts of solar photovoltaic power generation capacity by 2030, enough to supply power to 1.5 million homes. Additionally, the country also plans to install 18 gigawatts of solar PV panels by 2050. These factors are expected to positively impact the growth of the market over the forecast period.

The scaling up of renewable energy in transportation will drive the growth of the solar power market by South Africa, as the country focuses on reducing carbon emissions and adopting renewable sources to meet energy needs. For example, The cap goal of buying only zero-emission vehicles by 2025. The cap The electric vehicle framework includes leveraging the deployment and charging of electric vehicles to increase the share of renewable energy and considers requiring public electric vehicle charging stations to run on renewable energy (RE) . This will necessitate the electrification of transportation systems, which in turn will accelerate the adoption of solar energy sources for power generation during the forecast period.

Find additional information on various other market drivers and trends mentioned in our Sample FREE Report.

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Solar energy market in South Africa

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 29.74%

Market Growth 2022-2026

23.31 TWh units

Market structure

Fragmented

Annual growth (%)

24.80

Successful market contribution

100% South Africa

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period

Customization overview

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

Summary

Market landscape

  • Market ecosystem

  • Value chain analysis

Market sizing

Five forces analysis

Market segmentation by application

  • Market segments

  • Comparison by application

  • Grid Connected – Market size and forecast 2021-2026

  • Off-grid – Market size and forecast 2021-2026

  • Market Opportunity by Application

Market segmentation by end user

  • Market segments

  • Comparison by end user

  • Utility – Market size and forecast 2021-2026

  • Roof – Market size and forecast 2021-2026

  • Market opportunity by end user

Customer landscape

  • Market factors

  • Market challenges

  • Market trends

Supplier Landscape

  • Overview

  • Landscape disturbance

Vendor analysis

  • Suppliers Covered

  • Positioning on the supplier market

  • ARTsolar Pty Ltd.

  • Canadian Solar Inc.

  • Enel SPA

  • ENGIE S.A.

  • IBC Solar AG

  • Jiangsu Seraphim Solar System Co. Ltd.

  • JinkoSolar Holding Co. Ltd.

  • Renenergy South Africa Pty Ltd.

  • SunPower Corp.

  • Trina Solar Co. Ltd.

appendix

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