Solar Panel Market Size, Share, Analysis, Industry Report and Forecast 2019-2025

 

The global rooftop solar panel market has considerable growth during the forecast period attributed to an increase in environmental concern, increasing demand for green energy, and the reduction of solar panel prices in both developing and underdeveloped economies. Other factors that contribute to the market growth include awareness among people towards cost-effective renewable energy source and government incentives, schemes and subsidies for domestic solar rooftops panel. Various government initiatives such as feed-in-tariff (FIT) programs in order to increase the installation of solar panels in commercial as well as residential is driving the growth of the rooftop solar panel market. 

 

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Further, fluctuation in crude oil price has been majorly contributing to the increase in adoption of the rooftop solar panel. As per OMR Analysis, total net installation was 92.4 GW (gigawatt), in which 27.5 GW of rooftop solar panel was installed in 2017. In global solar panel market, rooftop solar panel held nearly 30% of market share. Moreover, the market is anticipated to grow at a CAGR of 7.7% over the forecast period. Global net installation is estimated to reach 135.5 GW in 2023 attributed to increasing rooftop solar panel installation in household and corporate sector; thereby, driving the rooftop solar panel market growth across the globe.

 

The reduction in the price of rooftop solar panel in the last decade is probably the greatest driver of the global rooftop solar panel market. Rooftop Solar Panel are penetrating significantly from various commercial to household applications across the globe. This has been made possible due to reducing the cost of solar panels over the last decade. A significant decline in the cost of Rooftop Solar Panel has been observed in the past years. NREL has accounted for all system and project development costs incurred during the installation of residential, commercial, and utility-scale systems. 

 

NREL stated the cost of PV Rooftop Solar Panel used in the different application. As per NREL, average PV cost of residential systems in 2017, was around $2.80 per watt DC (/W DC), and commercial PV systems would cost around $1.85/W DC. Additionally, the cost of fixed-tilt utility-scale systems and one-axis-tracking utility-scale systems is around $1.03/W DC and $1.11/W DC respectively in the same years. There has been a sharp decline in the cost of these PV systems when compared with the cost in 2010. According to the data provided by NREL, around 61%, 65.4%, 77.5%, and 80% reduction in the cost of residential, commercial, fixed-tilt utility scale, and one-axis tracker utility-scale PV systems have been observed between 2010 and 2017.

 

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Current Market Trends Covered in the Global Rooftop Solar Panel Market Report

·        Based on the types, the polycrystalline solar panel segment is estimated to hold a dominating market share during the forecast period. 

·        Based on the end-user, corporate sector held the largest market share in the global rooftop solar panel market in 2018. 

·        Asia-Pacific is estimated to dominate the global rooftop solar panel industry during the forecast period.

 

Global Rooftop Solar Panel Market Segmentation

By Type

·        Monocrystalline Silicon Rooftop Solar Panel

·        Polycrystalline Silicon Rooftop Solar Panel

·        Thin-Film Rooftop Solar Panel

·        Other Rooftop Solar Panel

By End-User

·        Household Sector

·        Corporate Sector

Regional Analysis

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·        India

·        China

·        Japan

·        Rest oF APAC

Rest of The World

·        Middle East & Africa 

·        Latin America 

Company Profiles

·        ALLPOWERS Industrial international Ltd.

·        Canadian Solar Inc.

·        China Sunergy (Nanjing) Co., Ltd.

·        First Solar, Inc.

·        Hanwha Solarone Co. Ltd.

·        JA SOLAR Co., Ltd.

·        JinkoSolar Holding Co., Ltd.

·        juwi AG

·        KYOCERA Corp.

·        Motech Industries Inc.

·        Neo Solar Power Corp.

·        Renesola Zhejiang Ltd

·        Risen Energy Co., Ltd

·        Sharp Corp.

·        Shenzhen Portable Electronic Technology Co., Ltd.

·        SunEdison Inc.

·        SunPower Corp.

·        Tata Power Solar Systems Ltd.

·        Trina Solar Co., Ltd,

·        Vikram Solar Ltd.

·        Yingli Green Energy Holding Co. Ltd.

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1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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