The canada distributed solar power generation market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing awareness and concerns about the environment and sustainable future.
It is the personal generation of electricity from solar energy. The energy generated is used directly in households, factories, and commercial areas rather than being routed to a centralized system. One of the major drivers for the distributed solar power generation market in the nation is the growing need for clean energy. With almost 66 per cent of electricity produced by hydropower and renewables combined, the nation boasts one of the cleanest electrical networks in the world. Rooftop solar provides contemporary energy services to homes that previously did not have access to it, lowering power prices on islands and other remote places that rely on oil-fired production, and allowing residents and small companies to generate their electricity. Commercial and industrial systems are projected to expand the most since they are often less expensive and have a reasonably steady demand profile during the day, allowing for greater power bill savings, depending on the policy plan in place.
After China, Canada is the world's second-largest hydroelectric production. In 2018, the country produced approximately 387.3 TWh of energy with an installed capacity of 81,000 MW of hydropower. Hydropower has been used to generate energy in the nation for over a decade, dating back to before 1900. Over 500 hydropower plants are located throughout the nation. Hydropower has an advantage over other renewable energy options in the nation because of its dependability in the country's cold and severe weather. The country receives less than 51% of its sunlight and has severe temperatures in the winter, which may reach -40 C with concomitant wind chills, making it unsuitable for wind and solar power generation. As a result, the country's harsh winter weather and increased reliance on hydropower are projected to be the primary constraints for the country's distributed solar power production market over the projection period.
Market Segment Insights
In terms of end-users, the Canada distributed solar power generation market is bifurcated into households, industries, and commercial centers. The industries segment is expected to account for a key share of the market in the coming years due to many economic benefits, and are evaluating it as a continuous supply of energy to minimize downtimes and equipment damage caused by voltage variations in traditional power networks. On the other hand, the commercial centers segment is anticipated to expand at a rapid pace during the forecast period owing to rising environmental concerns.
Get Sample Report @ Request For Sample of Distributed Solar Power Generation Market – Canada Industry Analysis, Growth, Share, Size, Trends, and Forecast | Growth Market Reports
Key Players Covered in the Report
Polaron Solartech Corp; Grasshopper Solar Corporation; Canadian Solar Inc. Ltd; EDF Renewables Canada Inc.; and LONGi Green Energy Technology Co., Ltd.
About Growth Market Reports:
Growth Market Reports provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. Growth Market Reports has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: sales@growthmarketreports.com
Web: https://growthmarketreports.com
Follow Us: LinkedIn | Twitter
