Market Size of North America Rooftop Solar Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 8.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Rooftop Solar Market Analysis
The North America rooftop solar market is expected to grow at a CAGR of more than 8% over the period of 2020-2025. The government policies that drive the rooftop solar installation market include net metering that allows the users to receive credit on its electricity bill by selling excess electricity that the user generates through its solar photovoltaic installations. Moreover, a reduction in the installation cost of solar photovoltaic panels helps the market to expand. However, the cost of electricity storage on the battery is quite high, which requires a grid battery to store electricity during the night. However, increasing space constraints in the major cities across the globe are driving the demand for offshore wind energy and other alternative renewable energy sources. This factor is expected to hinder the growth of the market studied.
- Residential rooftop installation is one of the prominent segments under rooftop solar PV installations that are used to generate electricity for residential purposes. The sector is expected to dominate the market growth in the region during the forecast period.
- Rising shift towards greener and cleaner distributed grid systems in the region is expected to provide an excellent opportunity for the rooftop solar players.
- With the second-highest installed capacity of solar power in 2019 in the region, the United States is expected to dominate the market for the rooftop solar in the region.
