Saudi Arabia Solar PV Commercial & Industrial Distributed Generation Market size is projected to grow at a CAGR of 35.2% during 2022-2028

Passenger segment acquired the largest market revenue share in the Saudi Arabia solar PV commercial & industrial distributed generation market – 6Wresearch. 

Saudi Arabia solar PV commercial & industrial distributed generation market experienced exponential growth during 2021 on account of the back of country’s commitment to decrease carbon emissions by 130 million tons a year which is equivalent to 4% of global fuel emissions each year. For achieving its emission reduction targets under the Vision 2030 and to diversify its economy from oil, significant investments in renewable energy segment is expected, which would drive solar PV distributed generation market during the forecast period.

According to 6Wresearch, Saudi Arabia Solar PV Commercial & Industrial Distributed Generation Market size is projected to grow at a CAGR of 35.2% during 2022-2028.  The commercial segment registered healthy growth during recent years, driven by favourable government policies towards increasing the overall share of renewables in the energy mix to meet the set targets under vision 2030. Rising retail sector in the country is also expected to be a leading adopter of Solar PV DG in response to increase in electricity prices in the coming years.

According to Arjun Khurana, Research Associate, 6Wresearch, “By models, PPA acquired higher share in the solar PV distributed generation market owing to higher adoption in the industrial sector due to the model’s favorability that enables easy payment terms, furthermore, rise in industrial electricity tariffs would further drive the demand of PPA model in Saudi Arabia.”

Some of the major companies in Saudi Arabia solar PV commercial & industrial distributed generation market include ENGIE Solutions Company Limited, Ethraa, Alfanar, Desert Technologies, among others.

“Saudi Arabia solar PV commercial & industrial distributed generation market (2022-2028)” report provides an in-depth analysis with 17 figures and 04 tables, covered in 67 pages. Saudi Arabia solar PV commercial & industrial distributed generation market report comprehensively covers the market by end user and model. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas, market drivers, which would help stakeholders to device and align their market strategies according to the current and future market dynamics.