Global Rooftop Solar PV Market to Attain a Notable CAGR During 2022-2030; Growing Adoption of Solar Energy on Residential Scale to Boost the Market Growth

Research Nester published a report titled Rooftop Solar PV Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global rooftop solar PV market in terms of market segmentation by application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global rooftop solar PV market is anticipated to attain notable CAGR over the forecast period, i.e., 2022-2030. The market is segmented on the basis of end-user, into residential, commercial, and others. Among these, the residential segment is estimated to hold the largest market share, as rooftop solar PVs are majorly used in houses. Growing awareness amongst the public, and adoption of solar panels at an individual level, is estimated to boost the segment growth.

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The global rooftop solar PV market is anticipated to grow on the back of increasing awareness regarding the use of renewable energy amongst the government as well as the public. Government initiatives, such as, subsidy on solar panels, to promote the installation of solar panels, is estimated to boost the market growth. Furthermore, the rapid depletion of fossil fuels, along with growing climate concerns amongst the authorities is estimated to further promote the market growth.

Geographically, the global rooftop solar PV market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the North America is estimated to garner significant share over the forecast period owing to the high awareness amongst the masses, along with presence of major manufacturers of solar panels in the region. As per the data from the U.S. Energy Information Administration (EIA), U.S. had over 2,500 solar power plants in the year 2018.

Growing Environment Awareness to Boost the Market Growth

The process of generating electricity in thermal power plants using coal or petroleum creates massive air pollution, which elevates global warming and ozone depletion. This has given rise to major environmental concerns among people and the authorities to curb pollution and develop an alternative source for generating electricity. As a result, people are opting for installation of solar panels in their houses to reduce dependance on electricity generated by fossil fuels. This is estimated to boost the market growth.

However, the high investment, along with the lack of proper infrastructure is expected to hamper the market growth.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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This report also provides the existing competitive scenario of some of the key players of the global rooftop solar PV market which includes company profiling of Canadian Solar Inc, S.A, Trina Solar Co., Ltd, GreenBrilliance Renewable Energy LLP, Sharp Corporation, TATA Power Solar Systems Limited (TATA Group), SunPower Corporation, First Solar, Inc., Shanghai Aiko Solar Energy Co., Ltd., JA Solar Technology Co., Ltd., and Jinko Solar Denmark ApS. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global rooftop solar PV market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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