Solar Water Pumps 2023 Saves Up To 31.8B KWh Elctricity, Which Brings Great Green Life To The Earth...
Apr 16, 2024
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The global water pump market size reached a value of approximately USD 67.76 billion in 2023. The market is projected to grow at a CAGR of 4.40% between 2024 and 2032, reaching a value of USD 99.82 billion by 2032.
A Solar Water Pumps is a pump running on electricity generated by photovoltaic panels or the radiated thermal energy available from collected sunlight as opposed to grid electricity or diesel run water pumps. Global Solar Water Pumps market size was valued at USD 1637.68 million in 2023 and is expected to expand at a CAGR of 9.8% during the forecast period, reaching USD 2869.38 million by 2031.
The penetration rate of Solar water pumps is only 2.4% in 2023. it is confident to see the continous growth in next 10 years.
In addtion, Refer to the resale price on alibaba.com, 2.2kW solar AC DC borewell pump 4" w/ inverter ~400$, ~0.2$/watt, 2.2KW Solar DC borewell Pump 4" w/inverter 320$, ~0.15$/watt, 750W solar DC surface pump w/inverter 150$, ~0.2$/watt. Assume average 0.15-0.2$/watt for solar pump market, we could roughly estimate the global market shipment is around 8.188 ~10.9GW new installation in 2023, YoY +
The vast majority of solar pump customer are using the pumps 6-8 hours per day. we could get 2190 ~2920 hours per year.
Y23New Installation GW Hour per year Total Power Consuption(KWH)
8.18 2190 17,914,200,000
8.18 2920 23,885,600,000
10.9 2190 23,871,000,000
10.9 2920 31,828,000,000
we could roughly estimate , total up to 31.8B KWh elctricity saved to the earth, reducing carbon emission ~ 31,784,360 ton in 2023.
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