(EnergyIndustry.Net, July 19, 2018 ) Owing to various expensive factors, the cost of the main grid extension for rural electrification is quite high. Grid extension is affordable and offers a lower cost per kW while covering a highly dense area. Regions lacking grid access are sparsely populated and as a result, grid extension becomes an expensive option. According to Publisher’s market study, this high cost of grid expansion will be one of the primary factors that will have a positive impact on the growth of the off-grid solar power systems market during the next few years. Owing to the high cost of grid extension, several governments and communities are implementing stand-alone energy systems to provide decentralized power to remote households and communities since these off-grid systems are highly cost-effective and can be scaled according to the various power needs. This will drive the growth of this market, which according to our market research analysts, will grow at a CAGR of more than 14% by 2022.
Covered in this report The report covers the present scenario and the growth prospects of the global off-grid solar power systems market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of off-grid solar power systems.
The market is divided into the following segments based on geography: -Americas -APAC -EMEA
Publisher's report, 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.
Key vendors -Greenlight Planet -M-KOPA Kenya -Schneider Electric -SMA Solar Technology -Su-Kam Power Systems
Market driver -High cost of grid expansion -For a full, detailed list, view our report
Market challenge -High initial PV system cost -For a full, detailed list, view our report
Market trend -Growing Pay-As-You-Go (PAYG) model -For a full, detailed list, view our report
Key questions answered in this report -What will the market size be in 2022 and what will the growth rate be- -What are the key market trends- -What is driving this market- -What are the challenges to market growth- -Who are the key vendors in this market space-