Off-grid Solar Power Systems Market 2018 - Global Forecast to 2022 - Growing Pay-As-You-Go (PAYG) Model

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Mar 13, 2018, 11:45 ET

DUBLIN, March 13, 2018 /PRNewswire/ --

The "Global Off-grid Solar Power Systems Market 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The global off-grid solar power systems market to grow at a CAGR of 14.45% during the period 2018-2022.

Global Off-grid Solar Power Systems Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Off-grid solar power systems are standalone systems that help households, commercial and industrial buildings, mining sites, and telecom sector to generate their own power and are not connected to the grid. Off-grid solar power systems include solar home systems, smaller solar products (pico solar PV systems and solar lanterns) and mini-grids.

The latest trend gaining momentum in the market is Growing Pay-As-You-Go (PAYG) model. Over the past several years the need to improve energy access has been a crucial agenda across the world, especially in developing countries. The continuous decline in decentralized renewable technology cost, such as solar PV and energy storage, has improved the affordability of off-grid technologies, thus playing an important role in accelerating the energy access. However, building and sourcing financing for renewable-based mini-grids can be expensive in some countries, which has given rise to a new business model called Pay-As-You-Go (PAYG).

According to the report, one of the major drivers for this market is High cost of grid expansion. The cost of the main grid extension for rural electrification is considered high, as the investment depends on the distance of the community from the existing main grid, the population density, power quality, demand pattern, and other factors. The cost per mile for extending/expansion of the grid line to remote areas can cost anywhere between $15,000-$50,000 per mile, which can be higher depending on the terrain.

Further, the report states that one of the major factors hindering the growth of this market is High initial PV system cost. It is highly necessary to have a battery connected to the renewable systems to have access to a continuous and reliable source of power, as renewable sources such as wind and solar are intermittent in nature.

Most commonly paired sources are solar and batteries, as solar is abundantly and freely available clean source of power, wherein solar PV modules charge the battery, and the power is discharged from the battery when the solar module is not generating enough power. Alternatively, where diesel mini-grids supply power, they can be retrofitted with solar power and energy storage systems, which will reduce the diesel generator run time and will only charge the battery when needed.

Key vendors

Greenlight Planet
M-KOPA Kenya
Schneider Electric
SMA Solar Technology
Su-Kam Power Systems

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: MARKET LANDSCAPE

Market ecosystem
Market characteristics
Market segmentation analysis

PART 05: MARKET SIZING

Market definition
Market sizing 2017
Market size and forecast 2017-2022

PART 06: FIVE FORCES ANALYSIS

Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition

PART 07: MARKET SEGMENTATION BY APPLICATION

Segmentation by application
Comparison by application
Non-residential - Market size and forecast 2017-2022
Residential - Market size and forecast 2017-2022
Market opportunity by application

PART 08: CUSTOMER LANDSCAPE

PART 09: REGIONAL LANDSCAPE

Geographical segmentation
Regional comparison
APAC - Market size and forecast 2017-2022
EMEA - Market size and forecast 2017-2022
Americas - Market size and forecast 2017-2022
Key leading countries
Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

Market drivers
Market challenges

PART 12: MARKET TRENDS

Growing Pay-As-You-Go (PAYG) model
Increasing grid electrification
Continuous decline in technology costs

PART 13: VENDOR LANDSCAPE

Overview
Landscape disruption
Competitive Scenario

PART 14: VENDOR ANALYSIS

Vendors covered
Vendor classification
Market positioning of vendors
Greenlight Planet
M-KOPA Kenya
Schneider Electric
SMA Solar Technology
Su-Kam Power Systems

PART 15: APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/tkwtd5/offgrid_solar?w=5

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SOURCE Research and Markets