Off-Grid Solar Market Research Report

Off-Grid Solar Market: Overview

Off-grid solar options have become popular ways to expand access to renewable energy while preserving the environment. With the use of batteries that store the solar electricity produced by the system, off-grid solar systems function independently away from the electrical grid. Batteries, solar panels, inverters, and controllers are the four basic parts of an off-grid solar system. In places where the power grid is not available, these systems supply electricity for vital loads. In 2021, the U.S. overtook Canada as the region with the largest market for off-grid solar PV panels. The United States is regarded as the second largest PV panel adopter in the world because of the country's increasing PV panel usage. The country's market is anticipated to show a significant CAGR during the forecast period.

Off-Grid Solar Market: Segmentation Analysis

The off-grid solar PV panel market has been divided into thin-film, crystalline silicon, and other categories based on technology. Thin-film solar PV panels held the greatest revenue share of 40% in the global off-grid solar PV panels market in 2021 because of their compact design, high durability high durability, and use of flexible and lightweight materials during manufacturing. Due to their small weight and affordable installation, thin-film off-grid solar PV panels are often used in commercial applications.

These are frequently referred to as "thin films" due to the incredibly thin layers of the film on glass, stainless steel, or a flexible substrate. The film must have a thickness of less than one micron. To prevent damage, these cells are assembled into a module and laminated.

Due to the prolonged lifecycle of the panels, the low weight-to-volume ratio, and the inexpensive production of silicon semiconductors, the crystalline silicon segment is anticipated to experience significant growth over the course of the forecast period. High demand for crystalline silicon exceeds production capabilities, which raises prices.

During the forecast period, the residential category is anticipated to increase at the fastest rate. Commercial solar PV panels can power industrial facilities in off-grid or remote regions, pre-heat ventilation air, and heat water in offices, enterprises, and other structures. They have a lifespan of 14 to 20 years. Along with an increase in power demand in communication base stations and data centres, the quick adoption of PV modules in corporate offices, hotels, and hospitals is anticipated to stimulate product demand throughout the commercial sector.

The global Off-Grid Solar market is segmented as follows:

By Type

• Thin Film
• Crystalline Silicon
• Others

By Application

• Residential
• Commercial
• Industrial

By Region/Geography

• North America

• The U.S.
• Canada
• Mexico

• Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

• Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

• The Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Egypt
• Kuwait
• Rest of the Middle East & Africa

• Latin America

• Brazil
• Argentina
• Rest of Latin America