The Cleantech Market in Egypt is Led by Declining Price of Solar PV Modules and Government’s Commitment to Improve the Renewable Energy Proportion in its Total Energy Mix: Ken Research
Posted on 17 November 2017 by KenResearch
The country has shown erratic growth pattern which is expected to follow smooth trend in future as market penetration of cleantech energy segment improves. Rooftop solar has gained significant demand for both on grid and off grid connections. Growth in cleantech energy segment has led to growth in the EPC (engineering, procurement and construction) market for cleantech energy segment as most of the bigger capacity tenders are based on this method. Even private companies which install large rooftop solar power plants use the EPC services to execute and ease the process of integration.
Egypt has vast area of barren land which is uninhabited making it ideal for generating renewable energy. In August 2016, government plans to increase electricity prices have been finalized as part of its five-year campaign to restructure subsidies for the electricity sector to zero by 2018. Companies developing renewable energy sources in Egypt are getting attractive rates in comparison to global rates and are the key growth driver of cleantech energy in Egypt.
The report titled “Egypt CleanTech Energy Market by Technology (Solar PV, Solar CSP, Wind, Hydropower) and by EPC Market Outlook to 2021” by Ken Research suggested that market for cleantech energy will be driven by wind energy segment. Global manufacturers including Siemens and Vestas will develop the majority of projects. Solar is expected to register very fast growth as many large projects are in pipeline.