Global Solar Rooftop Market By Overview
Solar Rooftop market accounted for USD 69.40 billion in 2020 and is estimated to be USD 130.21 billion by 2030 and is anticipated to register a CAGR of 6.6%.
A solar rooftop converts the light energy from the sun into electrical energy by using solar panels fixed on the rooftop on any building. Solar panels may be off-grid with the storage of battery or associated with the grid. Solar rooftop systems consist of solar Photovoltaic panels and related equipment, which comprise transformers, inverters, meters, junction boxes, cables, batteries, and monitoring and mounting units. Along with providing energy productive resolutions, these solar panels are simple and easy to use and establish. Further, they play crucial role in many industrial, commercial and residential purposes.
Global Solar Rooftop Market By Drivers & Restraints
Growing Demand for Energy Consumption
The global solar rooftop market is expected to witness high growth over the forecast period owing to growing demand for energy consumption across the globe. Electricity generated by renewable sources is clean, cost effective and renewable in nature which drives the solar rooftop market towards growth. In addition, growing solar systems installations, government initiatives and policies is expected to fuel the growth of the solar rooftop market. Moreover, rising demand for solar photovoltaic panel from different regions leads to the production of cheap modules and thereby, causes decline in prices of solar modules across the globe. Rooftop solar systems require high capital investments and solar radiation for a significant duration of time, which inhibits the growth of the rooftop solar market during the forecast period. Adoption of rooftop solar modules in emerging markets and low-income countries such as India, Pakistan, and Nigeria combined with governmental support in form of subsides, tax credits, and feed-in tariffs are expected to offer opportunities for the growth of the solar rooftop market.
Global Solar Rooftop Market By Segmentations & Regional Insights
Solar Rooftop market is segmented based on capacity, connectivity, end user, and region.
On the basis of capacity, the global solar rooftop market has been segmented into three main types such as below 10 kW, 11 kW- 100kW, and above 100 kW. In terms of connectivity, the global solar rooftop market has been segmented on grid and off grid type. In the on-grid type of solar rooftop systems, the electricity produced from solar photovoltaic rooftop are connected to the utility grid. Whereas, off-grid type of systems produces electricity and it is utilized by the connected load, and excess of power is stored in batteries. Based on end user, the global solar rooftop market is divided into residential, commercial and industrial.
Regional Insights:
On region the global Solar Rooftop market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is estimated to be major share in terms of revenue over the forecast period, due to increased consumption of electricity, growing solar system installations, government initiatives and policies. For instance, according to ministry of statistics and programme implementation government of India, in 2018, electricity generation capacity has increased by 6.70% i.e. (23680 MW) from 2015-16 to 2016-17. Europe is expected to hold major share in solar rooftop market, owing to high adoption of solar energy and increasing compliance for green energy in this region. In addition, different governments of the European countries are providing tax benefits to manufacturers of solar panels, also fueling the growth of the target market in this region.
Solar Rooftop Market report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Billion & CAGR from 2020 – 2030 |
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Market Segmentation |
By Capacity- Below 10 kW, 11 kW- 100kW, and Above 100 kW By Connectivity– On Grid and Off Grid By End User– Residential, Commercial, and Industrial |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global Solar Rooftop market report based on capacity, connectivity, end user, and region.
Solar Rooftop Market, By Region:
- North America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- U.S.
- Canada
- Middle East & Africa
Global Solar Rooftop Market By Competitive Landscape & Key Players
The key players operating in the global solar rooftop market includes SMA Solar Technology AG, Trina Solar limited, Yingli Green Energy Holding Company Limited, Canadian Solar Inc., Jinko Solar, SolarWorld AG, SunPower Corporation, Shunfeng International Clean Energy Limited., and Tata Power Solar Systems Limited.
Tata Power Solar Systems Limited.
Tata Power Solar Systems Limited, formerly Tata BP Solar, is a solar energy services firm based in India. Solar modules, solar cells, and other solar products are manufactured by the company, which also offers EPC services for solar power projects.
Tata Power Solar became the first Indian company to ship over 1 GW of solar modules globally in February 2017. The company's Bangalore manufacturing facility has a capacity of 400 MW for modules and 300 MW for cells.
Global Solar Rooftop Market By Company Profile
- SMA Solar Technology AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Trina Solar limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Yingli Green Energy Holding Company Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Canadian Solar Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Jinko Solar
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SolarWorld AG
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SunPower Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shunfeng International Clean Energy Limited.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Tata Power Solar Systems Limited.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Solar Rooftop Market By Highlights
FAQs
The Global Solar Rooftop market is segmented into basis of capacity, connectivity, end user, and region.
Global solar rooftop market is driven owing to the electricity generated by renewable sources, which is clean, cost effective and renewable that increases the demand of solar system.
By region, the market in Asia Pacific is accounted major share in terms of revenue over the forecast period, owing to increased consumption of electricity, growing solar system installations, government initiatives and policies in this region.
The Key players operating in the global Solar Rooftop market include MA Solar Technology AG, Trina Solar limited, Yingli Green Energy Holding Company Limited, Canadian Solar Inc., Jinko Solar, SolarWorld AG, SunPower Corporation, Shunfeng International Clean Energy Limited., and Tata Power Solar Systems Limited.