Rooftop Solar PV - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Rooftop Solar PV market is accounted for $32,259 million in 2017 and is expected to reach $91,180 million by 2026 growing at a CAGR of 12.2% during the forecast period. Actively promoting the usage of rooftop solar PV in residential, rise in demand for renewable energy and the electricity generation are the key driving factors for the market growth. However, insufficient grid capacity creates hurdles in setting up new plants acts as major restraint for the market growth. Moreover, increasing investment by major players provides ample opportunities for the market growth.
Rooftop solar photovoltaic (PV) installation is basically an electrical installation that changes solar energy into electrical energy. The rooftop solar photovoltaic (PV) systems are much smaller in size and are majorly installed on the rooftop of commercial and residential buildings. Rooftop solar PV systems are basically the circulated power generation systems, which assist to meet buildings energy requirements by producing electrical energy within an active distribution network.
By technology, crystalline silicon PV segment commanded considerable growth in the market. It is made of highly pure silicon wafers that are further used to convert the solar energy into electrical energy. Crystalline silicon (c-Si) is one of the most widely used semiconductor material in photovoltaic (PV) technology to manufacture solar cells. They are highly efficient as compared to its rival technologies, for instance, amorphous silicon and non-silicon solar cells.
Asia Pacific is expected to have the largest market share and dominate the market during the forecast period. China is anticipated to be the most profitable region due to its increasing governmental schemes and feed-in-tariff program thus propelling the expansion of the rooftop solar PV market. These schemes have led to helping in connectivity particularly in isolated areas for electricity along with increasing demand for uncontaminated energy which is cheaper as compared to nuclear electricity and fossil fuels.
Some of the key players profiled in the Rooftop Solar PV market include Sharp Corporation, Trina Solar Ltd, Kyocera Corporation, JA Solar, Yingli Solar, Canadian Solar Inc., Sungevity, Tesla, Vikram Solar, Jinko Solar, SunPower Corporation, Sunshot Technologies, RelyOn Solar Pvt Ltd, Pristine Sun and Solimpeks.
• Crystalline Silicon
• Grid Connected
End Users Covered:
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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