Off-Grid Solar Market Synopsis
Off-grid solar
system should be designed in such a way that it should generate enough power
throughout the year and have sufficient battery capacity to meet residential
requirements. Off-grid solar finds application majorly in remote areas which
are far away from electricity grid. There are two types of off-grid systems,
namely, AC coupled system and DC coupled system. Solar off-grid systems help to
save energy bills.
Off-grid solar is
a system that allow the users to store their solar power batteries for use when
the power grid goes down. The off-grid provide power to offset the grid power
whenever the sun is visible and also send excess power to the grid for later
use. The major end-users for the off-grid solar system are the households that
lack access to electricity connection to the national or main grid. These
households form a potential customer base for off-grid devices.
The global
off-grid solar market is set to witness significant growth due to Rising
population in the countries such as India and China are mainly driving the
off-grid solar market. The implementation of off-grid devices in the region is
also driven by increased availability and affordability of small solar devices
such as solar lights and lighting kits. Moreover, the major issue of
electrification in the region is being tackled through various solar products
with tailored solutions. For instance, stand-alone solar products in the region
involves catering to various applications such as solar home systems, and
community lighting solutions, among others.
Segmental Overview
The off-grid solar
market has been segmented based on application into as residential, commercial,
and industrial.
Residential
segment is expected to dominate the market during the forecast period due to
rising use of off-grid solar system as source of back-up power.
Industrial segment
is also the prominent segment as most of the industries are located in remote
areas where the connection from the main or national grid keeps on
fluctuating.
The installation is majorly taking
place in Europe, North America, and Asia Pacific. Considering the product, the
market is segmented as up to 10 W, 11-50 W, 51-100 W, and above 100 W. Up to 10
W segment accounts for largest share in the off-grid solar market due to its
rising installation in residential sector.
Regional Outlook
Region wise, Asia
Pacific held the largest market share of the global off-grid solar market in
2017. It is estimated that Asia-Pacific region would be the fastest growing
market during the forecast period, mainly due to the rising investment in
renewable energy sources and high demand for off-grid solar systems by the
residential sector. The off-grid solar market would be mainly driven by the
favorable government regulations against greenhouse gas emissions.
Key Players
The key players of
the global off-grid solar market are Schneider Electric, SMA Solar Technology,
Canadaian Solar, Yingli Solar, Su-Kam Power Systems, Backwoods Solar,
HelioPower, Solar Power Rocks, Greenlight Planet, and Off Grid By Design.
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