South Africa Solar Photovoltaic Market

South Africa Solar Photovoltaic Market by Types (Crystalline Silicon and Thin Film), Deployments (Ground Mounted and Roof Top), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.

  • Report ID: EP-2387
  • Author: Growth Market Reports
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  • No. Of Pages: 213
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The South America solar photovoltaic market size is projected to expand at a CAGR of 10% during the forecast period, 2021-2028. The growth of the market is attributed to rising demand for renewable energy.

South Africa Solar Photovoltaic Market `

The solar energy sector was virtually non-existent prior to the launch of the Renewable Energy Independent Power Producers Program (REIPPP) in 2011. However, after the program's inception, installed capacity for solar PV reached more than 30% of total renewable energy in 2018. With more than 2,500 hours of sunlight per year, solar energy is the most easily accessible resource in South Africa.

The average solar radiation level in the country ranges between 4.5kWh/m2 and 6.5kWh/m2 per day. Under REIPPP, the country’s aim is to install 8,400 MW of solar PV generation capacity by 2030, enough to power 1.5 million households. Furthermore, the country intends to install 18 GW of solar PV by 2050. The market is expected to grow as Eskom, South Africa's state power utility, plans to sign several renewable energy projects with private producers.

These projects are expected to generate 2,305 MW of green power, mostly from solar and wind. This is expected to increase investment for solar PV manufacturers, which is anticipated to spur the solar photovoltaic market in the coming year. Following the outbreak of COVID-19, the country's solar power market experienced a slight slowdown, with low demand for small-scale solar projects and low investments in large-scale solar projects in first and second quarter of 2020.

Despite travel restrictions and supply chain disruptions, solar PV installed capacity in 2020 increased by 37% year-over-year (YoY). This massive increase in 2020 was attributed to large-scale solar PV projects that were completed in the same year. Furthermore, falling solar PV module and system costs, combined with supportive government policies, are expected to drive the market during the forecast period.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing initiatives and support from government is projected to drive the market growth.
  • Rising competition from alternative renewable energy sources such as onshore wind power, small hydropower, and bioenergy can limit the market growth during the forecast period.
  • High cost of installation, timely maintenance, and Covid 19 pandemic is estimated to hinder the market growth.
  • Growing demand for energy is anticipated to create immense opportunities for the market players.

Scope of the Report

The report on South America solar photovoltaic market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

South Africa Solar Photovoltaic Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019–2020

Forecast Period

2021–2028

Segmentation

Types (Crystalline Silicon and Thin Film) and Deployments (Ground Mounted and Roof Top)

Geographical Zone

South Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Canadian Solar Inc.; Enel SpA; JinkoSolar Holding Co.; and JA Solar Holdings.

South Africa Solar Photovoltaic Market Segment Insights:

Crystalline silicon to account a large market share

Based on types, the market is segregated into crystalline silicon and thin film. The dominant semiconductor used in photovoltaic technology for the production of solar cells is crystalline silicon. These cells are put together to form solar panels. Monocrystalline (single-crystal) or multicrystalline silicon is used to make typical crystalline silicon solar cells. Since 1950s, crystalline silicon solar cells have dominated the photovoltaic market. Silicon is nontoxic and abundant in the earth's crust, and silicon PV modules have demonstrated long-term stability over the years.

A thin film is a layer of material that ranges in thickness from fractions of a nanometer (monolayer) to several micrometers. The controlled synthesis of materials, also known as deposition, is a critical step in many applications. The thin film segment is expected to grow at a steady rate in the projected timeline

South Africa Solar Photovoltaic Market

Roof top segment is anticipated to expand at a rapid pace

On the basis of deployments, the South America solar photovoltaic market is segregated into ground mounted and roof top. Despite the fact that utility-scale solar PV projects have gained a significant share of the market small-scale rooftop solar PV systems continue to play an important role in the solar industry. Furthermore, rooftop solar provides benefits of modern electricity services to households that previously did not have access to electricity, lowering electricity costs. The Green Cape Smart Electricity project has focused on creating an environment for rooftop PV and other small-scale embedded generation (SSEG) technologies, which can result in the installation of more than 200 MW of rooftop installations in the coming year. Rooftop solar PV systems have the potential to transform South Africa's energy system. More than 11 GW of solar PV on residential rooftops in metropolitan municipalities in the country is technically and economically feasible.

South Africa Solar Photovoltaic Market

Segments

Segments Covered in the Report

The SA solar photovoltaic market is segmented on the basis of

Types

  • Crystalline Silicon
  • Thin Film

End-users

  • Ground Mounted
  • Roof top

Country       

  • South Africa

Key Players

  • Canadian Solar Inc
  • Enel SpA
  • JinkoSolar Holding Co.
  • JA Solar Holdings.

Competitive Landscape

The major players in the SA solar photovoltaic market include Canadian Solar Inc, Enel SpA, JinkoSolar Holding Co., and JA Solar Holdings.

Companies are engaging in mergers, acquisitions and partnerships to expand their market share.

In April 2020, Scatec Solar announced that its partners had grid-connected and begun commercial operation of the third 86 MW solar plant in Upington, South Africa, completing the 258 MW solar power complex.

Dyason's Klip 2, a 86 MW facility, is expected to produce 217 GWh per year. In September 2020, South Africa's solar industry welcomed government plans to purchase 6.8 GW of additional renewables from independent power producers by 2022, but warned that a "urgent response" is required to address the country's ongoing energy crisis.

The country's energy ministry revealed that the country plans to buy a total of 11,813 MW of new generation capacity by 2027, the majority of which will be solar and wind, with all electricity purchased through a tendering process by state utility Eskom.

South Africa Solar Photovoltaic Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Solar Photovoltaic Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Solar Photovoltaic Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Solar Photovoltaic Market - Supply Chain
  4.5. Global Solar Photovoltaic Market Forecast
     4.5.1. Solar Photovoltaic Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Solar Photovoltaic Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Solar Photovoltaic Market Absolute $ Opportunity
5. Global Solar Photovoltaic Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Solar Photovoltaic Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Solar Photovoltaic Demand Share Forecast, 2019-2026
6. North America Solar Photovoltaic Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Solar Photovoltaic Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Solar Photovoltaic Demand Share Forecast, 2019-2026
7. Latin America Solar Photovoltaic Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Solar Photovoltaic Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Solar Photovoltaic Demand Share Forecast, 2019-2026
8. Europe Solar Photovoltaic Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Solar Photovoltaic Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Solar Photovoltaic Demand Share Forecast, 2019-2026
9. Asia Pacific Solar Photovoltaic Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Solar Photovoltaic Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Solar Photovoltaic Demand Share Forecast, 2019-2026
10. Middle East & Africa Solar Photovoltaic Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Solar Photovoltaic Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Solar Photovoltaic Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Solar Photovoltaic Market: Market Share Analysis
  11.2. Solar Photovoltaic Distributors and Customers
  11.3. Solar Photovoltaic Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)

Segments Covered in the Report

The SA solar photovoltaic market is segmented on the basis of

Types

  • Crystalline Silicon
  • Thin Film

End-users

  • Ground Mounted
  • Roof top

Country       

  • South Africa

Key Players

  • Canadian Solar Inc
  • Enel SpA
  • JinkoSolar Holding Co.
  • JA Solar Holdings.

The major players in the SA solar photovoltaic market include Canadian Solar Inc, Enel SpA, JinkoSolar Holding Co., and JA Solar Holdings.

Companies are engaging in mergers, acquisitions and partnerships to expand their market share.

In April 2020, Scatec Solar announced that its partners had grid-connected and begun commercial operation of the third 86 MW solar plant in Upington, South Africa, completing the 258 MW solar power complex.

Dyason's Klip 2, a 86 MW facility, is expected to produce 217 GWh per year. In September 2020, South Africa's solar industry welcomed government plans to purchase 6.8 GW of additional renewables from independent power producers by 2022, but warned that a "urgent response" is required to address the country's ongoing energy crisis.

The country's energy ministry revealed that the country plans to buy a total of 11,813 MW of new generation capacity by 2027, the majority of which will be solar and wind, with all electricity purchased through a tendering process by state utility Eskom.

South Africa Solar Photovoltaic Market

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