SAN ANTONIO, Oct. 04, 2016 (GLOBE NEWSWIRE) -- The Africa solar photovoltaic (PV) home systems rental market is primarily driven by low access to electricity to the population across the continent (http://www.verifymarkets.com/products/2016-africa-solar-power-photovoltaic-pv-systems-market). West African countries, like Ghana, Nigeria and the Ivory Coast, expect the highest growth in the region. East African countries, particularly Kenya, Tanzania and Uganda, constitute for a large majority of the overall Africa solar PV home systems rental market. In 2015, Kenya dominated the Africa solar PV home systems rental market (in terms of revenue) and is expected to maintain its market share throughout the forecast period to 2022.
The companies operating in the Africa solar PV home systems rental market primarily target the off-grid marginalized sections of population that lack adequate access to clean and affordable energy and electricity solutions. The solutions, or product offerings, of the companies in Africa provide affordable solutions, which provide better lighting and quality of life to the off-grid or rural population in Africa. In addition, the solar systems have helped in eliminating the need of daily travel for mobile charging as these systems provide charging facilities, coupled with lighting and other functions of solar photovoltaic home systems. These solutions have enabled the people in Africa to gain effective access to electricity with increased affordability and convenience.
Poor road infrastructure, particularly the ones that connect rural regions to the urban regions in a majority of the African countries, act as one of the major challenges in the solar photovoltaic home systems rental market in Africa. The roads connecting the rural and urban regions are generally unpaved, which increases the time and money required for transporting goods and movement of employees, resulting in higher operational costs for the companies. The solar PV home systems, which are offered on rent, primarily make use of mobile networks for payment and system management. Unreliability of mobile networks in many of the African countries further adds to the challenges in the solar photovoltaic home systems rental market in Africa.
In terms of revenue, the solar PV home system segment sizing less than 30W had a significant market share in the Africa solar photovoltaic home systems rental market. In 2015, direct sales was the most dominant sales channel used by the companies operating in the overall Africa solar PV home systems rental market. The low-income off-grid population in Africa formed the most significant end user group in the overall market in 2015. The Africa solar PV home systems rental market is expected to grow at a CAGR of 22.1 percent during the forecast period from 2016 to 2022.
This report provides an overview of the African solar photovoltaic home systems rental market and a country analysis for Kenya, Tanzania, Ghana, Uganda and Rwanda. The report captures growth drivers, restraints, challenges, market trends, market share analyses, market revenue forecasts, distribution channel shares, demographic customer shares (by end user), company profiles for leading participants, and strategic recommendations. The base year of the study is 2015 and revenue forecasts are provided up to 2022. Companies featured include M-KOPA LLC, Off.Grid:Electric Tanzania Ltd, Mobisol GmbH, Fenix International Inc, Nova-Lumos (Txtlight Power Solutions, Ltd.), Azuri Technologies Ltd, and PEG Africa Ltd, among others. A copy of the Africa Solar Photovoltaic (PV) Home Systems Rental Market 2016 research report can be obtained at www.verifymarkets.com.
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Source: Verify Markets