Solar District Heating Market Size, Coronavirus-Covid19 Impact Analysis, Growth, Opportunity And Forecast 2025

The installation of solar district heating systems will observe significant expansion with the rising efforts towards economic and environmental protection. The extremely cold climates and fluctuating weather conditions have pushed the need for an incrementing supply of heated water. Solar district heating systems are large-scale solar thermal plants that supply heat with the help of district heating systems. In simpler terms, they are incorporated into local district heating networks and find applications in residential and industrial uses.

Solar heating systems are widely deployed on solar thermal technology. Moreover, in warmer climates, they can effectively replace renewable sources like fossil fuels, that is used to supply heat.

It has been reported that the global solar district heating market size will exceed an annual value beyond USD 7 billion in remuneration by 2025.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3512 

Rising preference for large solar district heating systems

The industry share of large solar district heating systems will garner considerable traction due to their higher penetration to offer heating benefits to a larger population base. These systems mainly source thermal energy that comes from combined heat and power networks, heating plants, or industrial waste heat. The large-scale solar thermal plants are also found to have a decentralized arrangement that increases the proportion of renewable energy in the heating systems.

Reduced energy costs in residential applications

Demand for solar district heating plants across residential applications is anticipated to rise at an exponential rate. This can be owed to the expanding solar sector that has increased the preference for the systems in comparison to gas or oil imports for heating. They are also witnessing a higher adoption over traditional electric boilers at homes.

Furthermore, various government programs have been formed to support the installation of small as well as domestic solar water heating systems for low-income families and social housing projects. This has further helped in the reduction of household energy costs, and to cater to the rising energy demand with the help of renewables.

Request For Customization of Research Report @ https://www.gminsights.com/roc/3512

Europe to emerge as a promising hub

Europe will witness a substantial inclination towards solar district heating. This is owing to the surge in the instances of installation of the plants specifically across Sweden, Denmark, Germany, and Austria. There is rising support from the various governing bodies across the continent for the adoption of the heating systems. For instance, in September 2019, the municipal district heating company of Latvia installed its first-ever large-scale solar district heating plant in the Baltic states.

Moreover, there is a growing need for district heating and solar thermal energy across the region for the effective energy transition of the heat sector.

Solution providers in solar district heating technology are consistently focusing on marketing initiatives like product innovations & differentiations, as well as capacity expansions to sustain competition. These enterprises are also looking forward to inorganic strategies like acquisitions, mergers, and partnerships to increase their presence across the globe particularly in the present COVID-19 pandemic. For instance, in November 2020, leading hydropower supplier, Statkraft inked an agreement to acquire Solarcentury in order to gain access to a 6-GW solar pipeline in Europe and South America.

Fortum, Cetetherm, Aalborg CSP, STEAG GmbH, Vattenfall AB, Shinryo Corporation, Korea District Heating Corporation, Kelag Warme Gmbh, LOGSTOR A/S, NRG Energy, are few other companies in the business.

Related Report:

https://www.globenewswire.com/en/news-release/2020/12/09/2142013/0/en/District-Heating-Market-worth-180-billion-by-2026-Says-GMI.html

https://www.globenewswire.com/news-release/2019/08/19/1903351/0/en/Solar-District-Heating-Market-to-hit-7-billion-by-2025-Global-Market-Insights-Inc.html

https://www.prnewswire.com/news-releases/concentrated-solar-power-market-to-hit-7-billion-by-2027-says-global-market-insights-inc-301247015.html