Global Rooftop Solar PV Market has valued US$ 29.7 Bn and is estimated to reach US$ 82.4 Bn by 2026 at a CAGR of 13.6 % during the forecast.
Global rooftop solar PV market is segmented by application, by end use, and by region. Based on application, rooftop solar PV market is segmented into off-grid and on-grid. Commercial and residential are the end-use segment of the rooftop solar PV market. Geographically, rooftop solar PV market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Government focus on conventional energy sources and support of government subsidies and tax credits is driving the rooftop solar PV market. Increased awareness for the use of solar energy across the globe, shift toward clean, reliable, affordable electricity and rapid proliferation of solar panels mounted on the roofs of homes and businesses fuels the growth solar rooftop market. Reductions in technology prices, innovative financing, and growing networks of solar installers and financial partners further stimulate the market.
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Global Rooftop Solar PV Market
Residential segment dominated the rooftop solar PV market. Reduction in production costs and innovation in the technology of solar panels drives the rooftop solar PV in the residential segment. Rooftop solar is widely used in commercial and industrial buildings as it provides benefits such as economic cost, less complexity and no cost of land.
Rooftop solar PV systems are gaining popularity as they provide off-grid and on-grid flexibility. Transmission of solar electricity to other sites is less efficient for rooftop solar due to lack of smart grid infrastructure. Off-grid rooftop solar PV segment dominated the market in 2017. Rooftop solar PV systems are available through financial leasing and third-party model resulting in an increase in their demand in off-grid applications. Off-grid system allows you to store your solar power in batteries for use when the power grid goes down or off. Off-grid provides power for your critical loads when the power grid is down.
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Germany is leading in the global solar rooftop PV market. Countries such as Germany, Japan, and the USA grab a major chunk of solar PV rooftop market. Solar rooftop PV markets in these countries are driven by strong PV project pipelines, flexible and innovative financing mechanisms, and proactive government policies. Germany’s growth is blessed by technological progress, the learning curve, and economies-of-scale, the investment costs for PV power plants. In Germany, module prices range in 10-20% higher than on the world market, due to anti-dumping measures of the European Commission.
Hanwha Q CELLS Co. Ltd., JA Solar Holdings Co. Ltd., SolarCity Corporation, Sungevity, Shunfeng International Clean Energy Limited, SunPower Corporation, SolarWorld AG, JinkoSolar Holding Co. Ltd., Yingli Green Energy Holding Company Limited, Trina Solar Limited, Sharp Corporation, Pristine Sun LLC, Solimpeks Corporation, Kyocera Corporation, JA Solar Co. Ltd., Yingli Solar, Vikram Solar, Canadian Solar Limited, RelyOn Solar Pvt Ltd. and Sunshot Solar Co. Ltd are key players included in the rooftop solar PV market.
Scope of Global Rooftop Solar PV Market
Global Rooftop Solar PV Market, by Application:
Global Rooftop Solar PV Market by End Use:
• Commercial/Institutional Consumers
• Residential Consumers
Global Rooftop Solar PV Market, By Region:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
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Key Player analyzed in Global Rooftop Solar PV Market:
• Hanwha Q CELLS Co. Ltd.
• JA SOLAR Holdings Co. Ltd.
• SolarCity Corporation
• Shunfeng International Clean Energy Limited
• SunPower Corporation
• SolarWorld AG
• JinkoSolar Holding Co. Ltd.
• Yingli Green Energy Holding Company Limited
• Trina Solar Limited
• Canadian Solar Inc.
• Sharp Corporation
• Pristine Sun LLC
• Solimpeks Corporation
• Kyocera Corporation
• JA Solar Co. Ltd.
• Yingli Solar
• Vikram Solar
• RelyOn Solar Pvt Ltd.
• Sunshot Solar Co. Ltd.