Factors catalyzing widescale adoption of solar technologies : market analysis for Masar

The world is undergoing a massive climate crisis: In 2015, record high temperatures occurred, millions of refugees have left their homelands due to poverty, weak crop yields and civil war, and hostile politics are at the center of a new fossil fuel field discovery crisis in the Mediterranean sea. Furthermore, energy prices are predicted to continue increasing, CO2 emissions have been flagged as the primary cause of climate change and over 1 billion people have no access to basic electricity. Meanwhile, a technology has existed for decades that promises to deliver reliable, limitless and CO2 emission-free energy to the world. Despite the fact that this technology has made great progress in recent years, it still only supplies less than 1% of the world’s power. This thesis will examine the factors catalyzing widescale adoption of solar technologies, namely solar Photovoltaics (PV) + storage, with a special focus on the role convergence between electricity consumers and producers, by observing and interviewing energy experts from around the world. The research examines whether the developing world, with Egypt as an example, is most likely to experience a breakthrough in solar adoption during the coming years. The research also attempts to combine different perspectives from industry experts, academics and entrepreneurs to reveal trends about the adoption of solar technologies. Wherever possible, actionable conclusions will highlight the most influential factors and players in the ongoing solar energy revolution as well as the author’s predictions about the future of this technology and the developments in financing relating to this market. Finally, the conclusion will provide some predictions on the growth of solar & storage adoption, whether the world will meet its solar deployment targets and which regions are more likely to grow faster than others