New Zealand Solar Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The New Zealand solar energy market is expected to register a CAGR of more than 3.5% during the forecast period, 2022-2027. COVID-19 has led to disruption in the supply chain due to lockdown measures taken by various countries worldwide. However, in New Zealand, the solar energy sector did not witness any major impact. Though the industry had not seen any significant impact, solar developers faced some disturbance in imports of solar modules from countries like China and South Korea. Factors such as the declining cost of solar power technology, improved installation processes, and gaining interest in distributed solar power generation are likely to increase the demand for the solar energy market. However, due to the slow growth of solar, increased support and investments in alternative clean energy sources such as hydro, geothermal, wind, biomass, etc., is expected to slow down the development of the solar energy market during the forecast period.
Key HighlightsThe New Zealand solar energy market is partially fragmented. Some of the major companies include Meridian Energy Ltd, JA Solar Holdings, Trina Solar Co. Ltd, JinkoSolar Holding Co. Ltd, and New Zealand Solar Power Ltd.
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