United States distributed solar power generation market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 10% during 2023–2031. The growth of the market is attributed to elements such as increasing environmental concerns and high cost of grid expansion. Moreover, advancement in technology leading to increase in efficiency and solar panel manufacturing cost reduction has been a key factors responsible for the growth of the United States distributed solar power generation market.
Distributed solar power is generated through a decentralized solar photovoltaic module and extensively used in the residential and commercial sectors. Continuously rising temperatures, growing need for energy conservation and reducing CO2 emission, declining dependency on fossil fuel, decreasing prices of solar PV modules, and rising demand for clean energy sources drive the market growth.
Thus, the aforementioned trend for energy transformation is projected to drive the market growth during the forecast period.
It is the generation of power from solar energy for personal use. The energy produced is not sent to a centralized grid rather is used directly in households, industries, and commercial centers
Growing demand for clean energy is among the foremost drivers for the distributed solar power generation market in the country. The country is earnestly shifting from conventional energy-producing sources to clean energy sources and produced over 16.7% of the total electricity generated from hydropower and renewable energy combined.
Hydropower holds a certain edge over other renewable energy resources in the country owing to its reliability in cold and harsh weather faced by the northern part of the country.
Therefore, the harsh weather in the country in winters and more reliability on hydropower are projected to impede the distributed solar power generation market.
The Covid-19 pandemic had an unpleasant impact on United States distributed solar power generation due to insufficient production of solar panels and scarcity of its supply; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
United States Distributed Solar Power Generation Market Trends, Drivers, Restraints, and Opportunities
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The significant shift from energy generation from conventional sources such as coal and natural gas to clean energy is estimated to expand the United States distributed solar power generation market.
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Growing interest in distributed solar power generation, owing to several economic benefits and a constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids are anticipated to propel the market in coming years
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Rising environmental concerns and economical benefits of domestic distributed solar power generation are projected to fuel the market growth during the forecast period.
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Rising usage of hydropower for electricity generation in the country is expected to impede the demand for distributed solar power generation.
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R&D investment and technological advancement in distributed solar power generation are expected to offer lucrative opportunities for the market players.
Scope of United States Distributed Solar Power Generation Market Report
The report on United States distributed solar power generation market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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United States Distributed Solar Power Generation Market -Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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End-user (Households, Industries, and Commercial Centers)
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Wuxi Suntech Power Co.Ltd, Yingli Solar, Solarcity Corporation, Juwi Solar Inc. and First Solar Inc.
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United States Distributed Solar Power Generation Market Segment insights
The industries segment is projected to constitute a large market share
Based on end-user, the United States distributed solar power generation market is segregated into households, industries, and commercial centers. The industries segment is expected to account for a key share of the market during the forecast period owing to it being inexpensive and have a comparatively stable load profile during the day that can enable larger savings on electricity bills. However, household segment is anticipated to expand at a rapid pace during the forecast period owing to the application of rooftop solar panels which enable residents and small businesses to generate their own electricity as well as offers the benefits of modern electricity services to households that had no access to electricity, reducing electricity costs on remote locations and islands that are dependent on oil-fired generation, these factors are responsible for the segment growth and is expected to surge the segment growth.
Segments
The United States distributed solar power generation market has been segmented on the basis of
End-user
- Households
- Industries
- Commercial Centers
Key Companies
- Wuxi Suntech Power Co.Ltd
- Yingli Solar
- Solarcity Corporation
- Juwi Solar Inc.
- First Solar Inc.
Competitive Landscape
Key players competing in United States distributed solar power generation market include Wuxi Suntech Power Co.Ltd, Yingli Solar, Solarcity Corporation, Juwi Solar Inc. and First Solar Inc.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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