Solar Energy Market in South Africa: Utility Segment to Offer Maximum Business Opportunities | Growth, Trends, Major Companies, and Forecasts (2022

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Solar Energy Market in South Africa Facts at a Glance-

• Total Pages: 120
• Companies: 10+ – Including 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. among others
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: End-user (utility and rooftop) and Application (grid-connected and off-grid)

Segmentation Analysis & Forecasts

The solar energy market share growth in South Africa by the utility segment will be significant during the forecast period. The growth is attributed to the huge number of installations of large-scale solar power plants to generate clean energy and reduce carbon emissions. Furthermore, it can also be stored in energy storage systems for using it when there is no sunlight. Such factors will drive the adoption of utility-scale solar power in the country during the forecast period.

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Vendor Insights-

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

• ARTsolar Pty Ltd.- The company manufactures crystalline solar panels. Moreover, the company also offers solar energy products under the brand name of Alpha.
• Canadian Solar Inc.- The company operates under CSI Solar and Global Energy business segments. Moreover, the company also offers solar energy products under the brand name of BiHiKu7.
• Enel SPA- The company operates under Thermal Generation and Trading, Enel Green Power, Infrastructure and Networks, End-user markets, Enel X, and Services business segments. Moreover, the company also offers services of solar energy to across the globe.

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Latest Drivers & Trends of the Market-

• Solar Energy Market in South Africa Driver:
• Sunny climatic conditions:

One of the key factors driving the solar energy market growth in South Africa is the sunny climatic conditions, as it is located in a latitude zone where the incidence of solar radiation is substantially higher than the rest of the globe. Solar energy began to gain traction in 2017, with total capacity increasing to 7.8 gigawatts by 2020. The rise in energy demand started to overwhelm the existing power generating plants in South Africa. The government policies and increased investments in solar PV projects to increase the installed solar PV capacity of the country in the coming years. Under REIPPP, the country aims to install an 8,400-megawatt generation capacity of solar PV by 2030, enough to provide energy to 1.5 million households. In addition, the country also plans to install 18 gigawatts of solar PV by 2050. Such factors are expected to positively impact the market growth during the forecast period.

• Solar Energy Market in South Africa Trend:
• Scaling up renewables in transport:

Scaling up renewables in transport will drive the solar energy market growth in South Africa, as the country is focusing on reducing carbon emissions and adopting renewable sources to fulfill energy requirements. For instance, Cape Town targets to procure only zero-emission vehicles by 2025. Cape Town’s Electric Vehicle Framework includes leveraging EV roll-out and charging to increase the share of renewables and is considering requiring public EV charging stations to operate on renewable energy (RE). This will require electrification of transport systems, which, in turn, will accelerate the adoption of solar energy sources for power generation during the forecast period.

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Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 – 2026

Five Forces Analysis

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

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
• Rooftop – Market size and forecast 2021-2026
• Market opportunity by End-user

Customer landscape

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ARTsolar Pty Ltd.
• Canadian Solar Inc.
• Enel SPA
• ENGIE SA
• 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

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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