DIFFUL SOLAR PUMP - Moroccan solar pump market
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- Issue Time
- Aug 28,2019
Summary
Due to the increased demand for use in the agricultural sector, the market share of solar pump systems in Africa is expected to grow at a compound annual growth rate of 20% from 2019 to 2024. Morocco is one of the markets that deserves priority attention.
Due to the increased demand for use in the agricultural sector, the market share of solar pump systems in Africa is expected to grow at a compound annual growth rate of 20% from 2019 to 2024. Morocco is one of the markets that deserves priority attention.
The Moroccan government is expected to invest $233 million in solar projects to serve agricultural growth. It is expected that Morocco will install a large number of pumps in the next few years. Morocco has the largest share of revenue in the solar pump market in Africa, followed by Ethiopia. Most of these solar water pumps are used for farmland irrigation.
In recent years, the African solar water pump market has experienced a significant increase in the number of new installations, mainly due to the decline in PV panel prices and government subsidies in the past few years.
The loose financing channels provided by NGOs and government banks have also enhanced the confidence of small farmers and supported the growth of the African solar pump market. In Morocco, the NAMA project supports the installation of solar water pumps in the agricultural sector.
In addition, low-capacity submersible pumps with DC motors account for the majority of the African market due to rising diesel prices and insufficient power supply in the agricultural sector.
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