A closer look at some record-breaking commercial PV market segments

A closer look at some record-breaking commercial PV market segments

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.