Germany Distributed Solar Power Generation Market- Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The distributed solar power generation market in Germany is expected to witness a CAGR of more than 2.5% during the forecast period. The COVID-19 pandemic had a negligible effect on the country's solar energy market, as they witnessed an upsurge in distributed solar PV capacity addition in 2020, even after a slowed industrial activity during the lockdown. For instance, in May 2020, as per the federal networking agency Bundesnetzagentur, the country has added 291 MW of distributed solar PV additions. Factors such as increasing energy demand clubbed with low operating costs, and the presence of top-notch renewable energy companies in the country will drive the distributed solar power generation market during the forecast period. However, the market growth is hampered by the high initial cost and unfavorable climate, as Germany is not a very sun-drenched country.
Key HighlightsThe German distributed solar power generation market is fragmented, with a lot of players. Some of the major companies include Juwi Solar Inc., Wuxi Suntech Power Co. Ltd, First Solar Inc., Trina Solar Limited, and Tesla Inc.
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