pdf Africa solar photovoltaic (PV) market .

Africa solar photovoltaic (PV) market heats up
Africa solar photovoltaic (PV) market size is anticipated to witness substantial growth by
2023 and is likely to grow at a CAGR of over 10% from 2016 to 2023. The spur in the industry
can be dedicated to high electricity prices accompanied by increasing government initiatives
towards renewable energy is expected to drive the industry growth over the forecast period. In
addition, solar irradiation is also likely to propel industry demand.
Government established renewable energy independent power producer program (REIPPP) is
anticipated to significantly contribute to the Africa solar PV market. Proliferating
advancements outside of the procurement program is likely to open up huge growth avenues
for the PV market as solar is now the preferred energy source due to increasing prices of retail
electricity over upcoming years. East and South Africa solar PV market is likely to lead
regional industry development.
Although this clean source of energy is steadily growing, the ignorance about the technology
among the people might hamper industry growth in the region. As the region has enjoyed many
years of readily available thermal power the mind set change among the people might take a
little longer. Providing guidance on the initial outlay for purchasing solar PV might furnish
massive growth avenues for Africa solar PV market over the several upcoming years. For
instance, the domestic government recognizes the value for public-private joint ventures in
development of solar projects. RustMo1 Solar Farm with 7 MWs production capacity is one of
the instances. The unit is already connected to the national grid and is now generating power
for Eskom.
South Africa solar PV market size should experience significant gains, since 2013 a number of
plants have been commissioned, which include the Jasper Project of 96 MW. This station offers
power for over 30,000 homes and is one of Africa’s largest. South Africa is anticipated to be
very ideal solar technology implementations, as most of the areas in the region receive more
than 2,500 hours of sunlight over the year. This can be attributed to the equatorial location of
the region, thus ultimately aids in generating optimal electricity and also aid the systems to
work even on cloudy days. Due to electricity price hikes in the region, solar energy is expected
to become much viable cost efficient as well as viable option for the businesses in the region.
Even the installation of the systems involve high initial investment, it can be recouped within
a period of five to eight years on an average from the date of installation. Implementation of
these systems also offer attractive savings model to the numerous businesses owing to striking
internal rate of return (IRR) offered considering the solar electricity it then gets free of cost
once the initial payback period is completed.
Africa solar PV market can be segmented on the basis of grid type, by technology and by end
use. On the basis of grid type it can be segregated into grid-connected and off-grid. Based on
technology the industry can be segregated into thin film PV as well as crystalline PV. On the
basis of end use the industry can be segmented into residential, commercial as well as utilityscale.
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Key industry participants occupying major Africa solar PV market share include Dream Quest
Enterprises, Setsolar, Sunnywin Energy, Tenesol Manufacturing (PTY), Yandalux and
SolaireDirect Technologies among others.
REC, a Norwegian company, announced intent to enter the East and South Africa solar PV
market in June 2015. The company anticipates 100 GW of solar PV installed capacity by 2030.
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