[Market Research Report] Distributed Solar Power Generation Market
Report ID: AA1023759
Prospects for Distributed Solar Power Generation: Trends and Future of the Japanese Market - Revenue of \$238.3 billion by 2031, CAGR of 6.97%
The global decentralized solar power generation market is expected to see revenue growth from \$129.96 billion in 2022 to \$238.3 billion by 2031, with a projected compound annual growth rate (CAGR) of 6.97% during the forecast period from 2023 to 2031. Current Market Trends Japan plays a leading role in the adoption of decentralized solar power generation in the Asia-Pacific region. The government announced a basic renewable energy plan in 2021, setting a target to increase the share of electricity supply from renewable energy sources from 24% to 36% by 2030. This policy includes subsidies and tax incentives to promote the installation of decentralized solar power generation. The growth of the market is being driven by technological advancements and cost reductions. As the efficiency of solar panels improves and installation costs decrease, more households and businesses are opting to adopt solar power generation. Furthermore, advancements in battery storage technology are enhancing the convenience and economic viability of solar power generation. For application methods, please check the [PDF download] button or apply directly through the related links.
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Industry Challenges and Opportunities: On one hand, the distributed solar power market faces several challenges. These include limitations on installation locations, high initial investments, and uncertainties regarding sunlight hours. However, these challenges simultaneously create new market opportunities. For example, new technologies such as floating solar panels and building-integrated photovoltaics (BIPV) are gaining attention, making solar power feasible even in urban areas and regions with difficult land use. Key Companies: Suntech Power Holdings Co. Ltd First Solar Inc Tesla Inc Canadian Solar Inc Sharp Energy Solutions Corporation JinkoSolar Holding Co. Ltd SunPower Corp KACO new energy GmbH Shenzhen Yingli New Energy Resources Co. Ltd By Solar Cell Module (monocrystalline, polycrystalline, cadmium telluride, amorphous silicon) By End Use (residential, commercial, industrial) By Type (rooftop, ground-mounted)
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