Rooftop Photovoltaic Panel Market Analysis

What is the global rooftop solar PV market size?

The global rooftop solar PV market size was valued at USD 66.84 billion in 2019 and is projected to progress at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2027. Rising deployment of renewable energy for electricity generation along with abundant availability of solar energy during the day is expected to drive the market growth.

What is driving the growth of rooftop solar PV market?

Increasing trend of generating power through renewable energy is adding to the rising rooftop solar PV capacity. Moreover, stringent regulatory reforms regarding clean energy deployment are driving the regional market growth. North America occupied a significant market share, with the U.S. being the major revenue contributor to regional growth.

Which segment has the most rooftop solar PV capacity in 2020?

The residential segment accounted for a share of more than 30% of the rooftop solar PV cumulative capacity in 2020. The C&I segment backed by high growth in major solar PV markets such as China, the US, and India accounted for a share of more than 60% of the capacity. Which are the major players in the global rooftop solar PV market?

Who are the key players in the global rooftop solar photovoltaic installation market?

Key players operating in the global rooftop solar photovoltaic (PV) installation market are Suntech Power Holding Co. Ltd, First Solar Inc., Yingli Solar, Sunpower Corporation, Sharp Corporation, JA Solar Holding Company Ltd., Kyocera, Shenzhen Topray Solar Co. Ltd., Tata Power Solar Systems Ltd.., and Wuxi Suntech Power Co. LTD

Which countries have the most rooftop solar PV installations?

Germany, Italy, and France were the major markets for rooftop solar PV taking Europe’s share to more than 70% of the rooftop solar PV market in 2012. A huge number of installations in Japan, China, India, and recently in Vietnam resulted in Asia-Pacific accounting for over half of the rooftop solar PV cumulative capacity in 2020.

What is a rooftop solar photovoltaic installation?

A rooftop solar photovoltaic installation is a type of electrical installation setup, mounted on the roof that converts solar energy into electricity. Rooftop solar PV systems are distributed power generation system that help in meeting the energy demand of buildings within an existing distribution network.