Solar Water Pump Outlook 2019: Global Trends and Market Opportunities
This report sizes the addressable solar water pump market in sub-Saharan Africa and South Asia and identifies solutions to current barriers.
Energy-efficient and affordable solar water pumps have the potential to be a critical enabler of economic growth and security for more than 500 million smallholder farmers worldwide. Today, the solar water pump industry is at an important inflection point, with technology increasingly well-adapted for small-scale users and prices on the decline. Declining costs in photovoltaic technology had led to irrigation products better tailored for smallholder farmers. While the upfront cost of a solar water pump remains high, potential fuel cost savings and income gains from high-value crops would allow some farmers to break even on their investment within 12-18 months.
This report offers insights on the solar water pump market in sub-Saharan Africa and South Asia like never before. The analysis underscores a growing business case for promotion and adoption. We estimate the addressable market in sub-Saharan Africa and South Asia at USD 15.6 billion.