Today we’re sharing some content from our new Commercial market feature in Luminate.
It’s a closer look at some record-breaking commercial PV market segments.
So while the residential PV remains challenging, things are more favourable in commercial.
MORE PROJECTS REGISTERING LGCS THAN IN PREVIOUS YEARS |
CUMULATIVE # SOLAR LGC PROJECTS BY YEAR FIRST CREATED LGCS |
MORE PROJECTS APPLYING FOR LGCS REGISTRATION TOO |
#PROJECTS APPLYING FOR LGCS – MONTHLY – CUMULATIVE BY YEAR |
The previous slide showed what’s coming out of the LGC project pipeline; this slide shows what’s going into it. YTD there are 251 solar LGC projects that have applied for accreditation, which is significantly higher than in recent years. |
BUT A PROJECTS HELD UP IN CER PROCESSING |
CUMULATIVE # SOLAR LGC PROJECTS BY YEAR FIRST ACCREDITED |
However in 2024 YTD there are far fewer projects that have been accredited by the CER when compared to last year. The reason is likely to be processing hold-ups in the CER – something that affected last year’s figures too. |
OVERALL THE LGC MARKET IN A HEALTHY STATE |
CUMULATIVE # SOLAR LGC PROJECTS BY YEAR FIRST ACCREDITED |
Our LGC project tracker (which always takes 12-18 months to fully true-up to its final values, and which hence invariably shows downturns in YTD figures) reveals the market for 101-500kW systems grew from mid 2022 to the end of 2023. In contrast the market for 501-1000kW systems has been practically steady since 2022, and the market for 1MW-5MW peaked at the start of 2023 but has since cooled. |
STC MARKET ALSO OFF TO RECORD START – ESPECIALLY 15-30KW |
TREND IN STC COMMERCIAL VOLUME REGISTERED BY SEGMENT, LAST 3 YEAR |
Driving the record start to the year is ongoing growth in the 15-30kW range. By contrast, other STC commercial size ranges haven’t been growing. That may have changed in May 2024, which saw a substantial uptick in the all STC commercial size ranges. |