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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