Report

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South Africa Solar Energy Market 2025-2029

Snapshot
Table Of Contents
Methodology

South Africa Solar Energy Market Size (2025–2029)

The solar energy market in South Africa is projected to grow by USD 5.45 billion, expanding at a compound annual growth rate (CAGR) of 37% from 2024 to 2029. This growth is fueled by the country’s abundant solar resources, favorable climatic conditions, and increasing demand for clean, affordable, and decentralized energy solutions.

Key growth drivers include:

  • Rising adoption of Pay-As-You-Go (PAYG) solar models.
  • Technological advancements in solar PV cells, battery storage, and grid integration.
  • Government efforts to reduce greenhouse gas emissions and improve energy access.
    However, competition from alternative renewables like wind and hydropower presents a key challenge, emphasizing the need for continued cost-efficiency and innovation.

Market Overview & Key Insights

South Africa’s solar energy sector plays a vital role in the country's shift toward renewable energy. Solar solutions—particularly photovoltaic (PV) and concentrated solar power (CSP)—are increasingly viewed as viable alternatives to fossil fuels due to their sustainability and lower carbon footprint.

The market benefits from:

  • Declining costs of solar panels and systems.
  • Expanding off-grid and grid-connected deployments.
  • Increased focus on utility-scale projects and decentralized energy generation in rural areas.

Key Drivers

  • High solar irradiance: Average 8–10 sunshine hours/day, offering ideal solar generation potential.
  • Government support: Policy frameworks and investments targeting renewable capacity expansion.
  • Sustainability targets: Solar energy’s role in cutting emissions and providing a low-cost energy source.

Emerging Trends

  • Growth of PAYG models: Allow consumers to pay in smaller increments, improving affordability and access.
  • Battery storage innovations: Including lithium-ion systems to manage energy fluctuations and peak demand.
  • Decentralized generation: Rooftop and microgrid installations gaining traction in off-grid communities.

Challenges

  • Competition from wind and hydro power.
  • Dominance of fossil fuels: Still accounted for ~85% of power generation as of 2023.
  • Initial setup costs for solar remain relatively high, especially without subsidies.

Major Companies Covered:

  • ARTsolar Pty Ltd
  • Canadian Solar Inc.
  • ENGIE SA
  • SunPower Corp.
  • Trina Solar Co. Ltd.
  • JinkoSolar Holding Co. Ltd.
  • Jetion Solar China Co. Ltd.
  • Schneider Electric SE
  • Sharp Corp.
  • Renenergy Ltd, and more.

Companies are categorized by:

  • Business focus: Pure play, category-focused, industry-focused, diversified.
  • Market strength: Dominant, leading, strong, tentative, weak.

Table of Content

1 Executive Summary

1.1 Market overview

  • Executive Summary - Chart on Market Overview
  • Executive Summary - Data Table on Market Overview
  • Executive Summary - Chart on Country Market Characteristics
  • Executive Summary - Chart on Market Segmentation by Application
  • Executive Summary - Chart on Market Segmentation by End-user
  • Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

2.2 Criticality of inputs and Factors of differentiation

  • Overview on criticality of inputs and factors of differentiation

2.3 Factors of disruption

  • Overview on factors of disruption

2.4 Impact of drivers and challenges

  • Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

3.1 Market ecosystem

  • Parent Market
  • Data Table on - Parent Market

3.2 Market characteristics

  • Market characteristics analysis

3.3 Value chain analysis

  • Value chain analysis

4 Market Sizing

4.1 Market definition

  • Offerings of companies included in the market definition

4.2 Market segment analysis

  • Market segments

4.3 Market size 2024

4.4 Market outlook: Forecast for 2024-2029

  • Chart on South Africa - Market size and forecast 2024-2029 ($ million)
  • Data Table on South Africa - Market size and forecast 2024-2029 ($ million)
  • Chart on South Africa: Year-over-year growth 2024-2029 (%)
  • Data Table on South Africa: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

5.1 Solar Energy Market in South Africa 2019 - 2023

  • Historic Market Size - Data Table on Solar Energy Market in South Africa 2019 - 2023 ($ million)

5.2 Application segment analysis 2019 - 2023

  • Historic Market Size - Application Segment 2019 - 2023 ($ million)

5.3 End-user segment analysis 2019 - 2023

  • Historic Market Size - End-user Segment 2019 - 2023 ($ million)

6 Qualitative Analysis

6.1 AI impact on Solar Energy Market in South Africa

7 Five Forces Analysis

7.1 Five forces summary

  • Five forces analysis - Comparison between 2024 and 2029

7.2 Bargaining power of buyers

  • Bargaining power of buyers - Impact of key factors 2024 and 2029

7.3 Bargaining power of suppliers

  • Bargaining power of suppliers - Impact of key factors in 2024 and 2029

7.4 Threat of new entrants

  • Threat of new entrants - Impact of key factors in 2024 and 2029

7.5 Threat of substitutes

  • Threat of substitutes - Impact of key factors in 2024 and 2029

7.6 Threat of rivalry

  • Threat of rivalry - Impact of key factors in 2024 and 2029

7.7 Market condition

  • Chart on Market condition - Five forces 2024 and 2029

8 Market Segmentation by Application

8.1 Market segments

  • Chart on Application - Market share 2024-2029 (%)
  • Data Table on Application - Market share 2024-2029 (%)

8.2 Comparison by Application

  • Chart on Comparison by Application
  • Data Table on Comparison by Application

8.3 Grid-connected - Market size and forecast 2024-2029

  • Chart on Grid-connected - Market size and forecast 2024-2029 ($ million)
  • Data Table on Grid-connected - Market size and forecast 2024-2029 ($ million)
  • Chart on Grid-connected - Year-over-year growth 2024-2029 (%)
  • Data Table on Grid-connected - Year-over-year growth 2024-2029 (%)

8.4 Off-grid - Market size and forecast 2024-2029

  • Chart on Off-grid - Market size and forecast 2024-2029 ($ million)
  • Data Table on Off-grid - Market size and forecast 2024-2029 ($ million)
  • Chart on Off-grid - Year-over-year growth 2024-2029 (%)
  • Data Table on Off-grid - Year-over-year growth 2024-2029 (%)

8.5 Market opportunity by Application

  • Market opportunity by Application ($ million)
  • Data Table on Market opportunity by Application ($ million)

9 Market Segmentation by End-user

9.1 Market segments

  • Chart on End-user - Market share 2024-2029 (%)
  • Data Table on End-user - Market share 2024-2029 (%)

9.2 Comparison by End-user

  • Chart on Comparison by End-user
  • Data Table on Comparison by End-user

9.3 Utility - Market size and forecast 2024-2029

  • Chart on Utility - Market size and forecast 2024-2029 ($ million)
  • Data Table on Utility - Market size and forecast 2024-2029 ($ million)
  • Chart on Utility - Year-over-year growth 2024-2029 (%)
  • Data Table on Utility - Year-over-year growth 2024-2029 (%)

9.4 Rooftop - Market size and forecast 2024-2029

  • Chart on Rooftop - Market size and forecast 2024-2029 ($ million)
  • Data Table on Rooftop - Market size and forecast 2024-2029 ($ million)
  • Chart on Rooftop - Year-over-year growth 2024-2029 (%)
  • Data Table on Rooftop - Year-over-year growth 2024-2029 (%)

9.5 Market opportunity by End-user

  • Market opportunity by End-user ($ million)
  • Data Table on Market opportunity by End-user ($ million)

10 Customer Landscape

10.1 Customer landscape overview

  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

11 Drivers, Challenges, and Opportunity/Restraints

11.1 Market drivers

11.2 Market challenges

11.3 Impact of drivers and challenges

  • Impact of drivers and challenges in 2024 and 2029

11.4 Market opportunities/restraints

12 Competitive Landscape

12.1 Overview

12.2 Competitive Landscape

  • Overview on criticality of inputs and factors of differentiation

12.3 Landscape disruption

  • Overview on factors of disruption

12.4 Industry risks

  • Impact of key risks on business

13 Competitive Analysis

13.1 Companies profiled

  • Companies covered

13.2 Company ranking index

  • Company ranking index

13.3 Market positioning of companies

  • Matrix on companies position and classification

13.4 ARTsolar Pty Ltd

  • ARTsolar Pty Ltd - Overview
  • ARTsolar Pty Ltd - Product / Service
  • ARTsolar Pty Ltd - Key offerings
  • SWOT

13.5 Canadian Solar Inc.

  • Canadian Solar Inc. - Overview
  • Canadian Solar Inc. - Business segments
  • Canadian Solar Inc. - Key news
  • Canadian Solar Inc. - Key offerings
  • Canadian Solar Inc. - Segment focus
  • SWOT

13.6 Enel Spa

  • Enel Spa - Overview
  • Enel Spa - Product / Service
  • Enel Spa - Key news
  • Enel Spa - Key offerings
  • SWOT

13.7 Energy Partners Solar Pty Ltd

  • Energy Partners Solar Pty Ltd - Overview
  • Energy Partners Solar Pty Ltd - Product / Service
  • Energy Partners Solar Pty Ltd - Key offerings
  • SWOT

13.8 ENGIE SA

  • ENGIE SA - Overview
  • ENGIE SA - Business segments
  • ENGIE SA - Key offerings
  • ENGIE SA - Segment focus
  • SWOT

13.9 Genergy

  • Genergy - Overview
  • Genergy - Product / Service
  • Genergy - Key offerings
  • SWOT

13.10 IC SOLAR AG

  • IBC SOLAR AG - Overview
  • IBC SOLAR AG - Product / Service
  • IBC SOLAR AG - Key offerings
  • SWOT

13.11 Jetion Solar China Co. Ltd.

  • Jetion Solar China Co. Ltd. - Overview
  • Jetion Solar China Co. Ltd. - Product / Service
  • Jetion Solar China Co. Ltd. - Key offerings
  • SWOT

13.12 Jiangsu Seraphim Solar System Co. Ltd.

  • Jiangsu Seraphim Solar System Co. Ltd. - Overview
  • Jiangsu Seraphim Solar System Co. Ltd. - Key offerings
  • SWOT

13.13 Jiangsu Zhongli Group Co. Ltd.

  • Jiangsu Zhongli Group Co. Ltd. - Overview
  • Jiangsu Zhongli Group Co. Ltd. - Product / Service
  • Jiangsu Zhongli Group Co. Ltd. - Key offerings
  • SWOT

13.14 JinkoSolar Holding Co. Ltd.

  • JinkoSolar Holding Co. Ltd. - Overview
  • JinkoSolar Holding Co. Ltd. - Product / Service
  • JinkoSolar Holding Co. Ltd. - Key news
  • JinkoSolar Holding Co. Ltd. - Key offerings
  • SWOT

13.15 Renenergy Ltd

  • Renenergy Ltd - Overview
  • Renenergy Ltd - Product / Service
  • Renenergy Ltd - Key offerings
  • SWOT

13.16 Sharp Corp.

  • Sharp Corp. - Overview
  • Sharp Corp. - Business segments
  • Sharp Corp. - Key news
  • Sharp Corp. - Key offerings
  • Sharp Corp. - Segment focus
  • SWOT

13.17 SunPower Corp.

  • SunPower Corp. - Overview
  • SunPower Corp. - Product / Service
  • SunPower Corp. - Key news
  • SunPower Corp. - Key offerings
  • SWOT

13.18 Trina Solar Co. Ltd.

  • Trina Solar Co. Ltd. - Overview
  • Trina Solar Co. Ltd. - Product / Service
  • Trina Solar Co. Ltd. - Key news
  • Trina Solar Co. Ltd. - Key offerings
  • SWOT

Research Methodology

All our research reports employ a mixed-methods approach, leveraging both primary and secondary research techniques to develop a comprehensive and well-informed analysis. The methodology ensures a balanced perspective by combining data-driven insights with expert opinions.

1. Secondary Research

Secondary research formed the foundation of the study, offering a contextual understanding of the market landscape, historical trends, and existing data. This phase involved gathering and analyzing information from:

  • Industry reports and whitepapers (e.g., McKinsey, Deloitte, Statista)
  • Academic journals and case studies
  • Company reports, investor presentations, and press releases
  • Government databases and regulatory publications
  • Trade publications, industry blogs, and news articles

2. Primary Research

To validate and complement secondary findings, extensive primary research was conducted. This included both quantitative data collection and qualitative insights, particularly through expert consultations.

a. Expert Consultations (Qualitative Primary Research)

In-depth interviews were conducted with a wide range of industry stakeholders, including:

  • Industry experts and consultants
  • Senior executives and decision-makers
  • Product managers and supply chain professionals
  • Academic researchers and analysts

b. Surveys and Questionnaires (Quantitative Primary Research)

Structured surveys were distributed among:

  • End-users/consumers
  • Retailers and distributors
  • Business-to-business (B2B) buyers

3. Data Validation and Triangulation

Findings from secondary and primary sources were cross-validated through data triangulation to ensure accuracy, consistency, and reliability. This process involved comparing insights from different sources and reconciling discrepancies through expert feedback.

4. Analytical Tools and Frameworks

Various analytical models were applied to interpret the collected data:

  • SWOT Analysis for understanding strengths, weaknesses, opportunities, and threats
  • Porter’s Five Forces to assess market competitiveness
  • PESTLE Analysis to evaluate external macroeconomic influences
  • Forecasting Models using historical data trends and regression analysis

Conclusion

The combination of comprehensive secondary research and robust primary data collection—enhanced by expert consultations—ensured the development of a well-rounded and in-depth analysis. This approach enables strategic decision-making backed by both empirical evidence and industry expertise.

For detailed methodology for this particular report please write to us on info@syovi.com

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