GCC’s distributed energy market estimated to reach a revenue of $602 million by the end of 2021

GCC’s distributed energy market estimated to reach a revenue of $602 million by the end of 2021

Recent analysis of the distributed energy market, which encompasses distributed solar photovoltaic (PV), distributed wind power, hybrid systems, diesel gensets, and gas gensets, in the Gulf Cooperation Council (GCC) countries shows that it is estimated to garner a revenue of $602 million by the end of 2021, registering strong double-digit growth at a CAGR of 25.4 percent over 2020.

Distributed Energy Rejuvenating the Power Sector in the GCC through Innovation and Efficiency, 2021 is the latest addition to Frost & Sullivan's Energy & Environment research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

The analysis reflects the gathering momentum in the GCC with declining technology costs, resource availability, and favourable policies. This encourages customers to self-generate electricity through distributed renewable sources and sell excess electricity back to the grid, transforming customers into prosumers (an individual who consumes as well as produces goods or services).