Africa solar photovoltaic (PV) market heats up

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The Big Picture of Africa Solar Photovoltaic
Market
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-analysis/africa-solar-photovoltaic-pv-market
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Global Market Scenario of Solar Photovoltaic
industry
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. Africa
solar power industry is expected to boost its
alternative energy capacities by installing large
number of large scale photovoltaic power
stations. Increasing demand for electricity,
rising awareness about environment sustainability
accompanied by the benefits of resorting to
renewable energy sources is expected to drive the
industry demand
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In addition, attributes such as superior output
efficiency, economical solar PV installation cost
and affordable maintenance is expected to
positively impact the industry growth. Falling
prices along with favorable government
regulations and schemes might boost the industry
over the forecast period. Cost optimization
offered by these systems is expected to intensify
the industry demand. Proliferating installation
of these systems is likely to encourage job
creation, stimulate local economies and also
deliver low cost energy. Rising blackout threats
and increasing load shedding frequency might
propel the industry growth from 2016 to
2023. 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
Africas 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.
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-analysis/africa-solar-photovoltaic-pv-market F
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