Energia
GCC's Distributed Energy Market Propelled by Rooftop Solar PV and Hybrid Power Systems' Expansion
The region's total distributed energy market, which encompasses distributed solar photovoltaic (PV), distributed wind power, hybrid systems, diesel gensets, and gas gensets, is estimated to garner a revenue of from $480 million in 2020, registering strong double-digit growth at a compound annual growth rate (CAGR) of 25.4%. This will be driven by the recovery in the diesel gensets market along with strong growth in rooftop solar PV and hybrid power systems. The and will lead the market for distributed energy, with set to emerge as the fastest-growing market in the region.
For further information on this analysis, , please visit:
"As utility-scale and distributed renewable resources become a crucial aspect of the region's decarbonization mandates, utilities will invest in associated with asset performance, modeling, and predictive analysis," said , Energy & Environment Industry Analyst at Frost & Sullivan. "Additionally, distributed solar PV will drive the market for (DERs) as an increasingly wider customer base is expected to adopt rooftop solutions, buoyed by the regulatory mechanisms supporting such installations."
Mense added, "Business models have evolved, and customers would prefer operation and output-based operating expenses (OPEX) contracts that include maintenance, performance guarantees, and availability, especially across residential, commercial, and industrial consumers. Further, is set to become a game-changer for DERs in the region as it enhances the value proposition of the DERs and enables revenue stacking."
The rise in prosumerism will present tremendous growth opportunities to the stakeholders, which include:
is the latest addition to Frost & Sullivan's research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Priya George ,
Corporate Communications
P: +91 44 6681 4414
E: priyag@frost.com
http://ww2.frost.com