Residential Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers the Residential Solar Energy Market Size & Share and is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers the Market Size and Forecasts in Terms of Installed Capacity for all the Above Segments.

Residential Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Residential Solar Energy Market Size

Residential Solar Energy Market Summary
Study Period 2019 - 2030
Market Volume (2025) 147.98 gigawatt
Market Volume (2030) 204.56 gigawatt
CAGR 6.69 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players

Residential Solar Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Residential Solar Energy Market Analysis

The Residential Solar Energy Market size is estimated at 147.98 gigawatt in 2025, and is expected to reach 204.56 gigawatt by 2030, at a CAGR of 6.69% during the forecast period (2025-2030).

  • Over the medium term, factors such as favorable government policies, increasing investments in upcoming rooftop solar projects, and the reduced cost of solar energy, which has led to increased adoption of solar energy, are expected to drive the market during the forecast period.
  • On the other hand, the lack of financing options and the difficulties in integrating residential solar PV systems in regions like Africa are expected to restrain the market's growth.
  • However, ambitious targets are being undertaken to increase the renewable share in their energy mix. Governments across these nations also plan to increase the renewable energy share by deploying residential solar PV systems in the coming years. This factor, in turn, is expected to act as an opportunity for residential solar energy manufacturers and suppliers during the forecast period.
  • Asia-Pacific is expected to be the fastest-growing market during the forecast period due to the rising energy demand. This growth is attributed to increasing investments and supportive government policies in Asia-Pacific countries, including India, China, and Australia.

Residential Solar Energy Industry Overview

The residential solar energy market is fragmented. Some of the major players in the market (in no particular order) include Trina Solar Co. Ltd, Canadian Solar Inc., JinkoSolar Holding Co. Ltd, Hanwha Q Cells Co. Ltd, and Tesla Inc.

Residential Solar Energy Market Leaders

  1. Trina Solar Co., Ltd.

  2. Canadian Solar Inc.

  3. Hanwha Q Cells Co., Ltd.

  4. Tesla, Inc.

  5. JinkoSolar Holding Co., Ltd

  6. *Disclaimer: Major Players sorted in no particular order
Residential Solar Energy Market Concentration
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Residential Solar Energy Market News

  • April 2024: The German government released a new rooftop solar tender seeking 258MW of PV capacity. The maximum bid price is expected to be EUR 0.105/kWh (USD 0.113/kWh).
  • February 2024: The Indian government approved a USD 9 billion plan to add solar panels to 10 million homes, boosting a laggard industry in the country's transition efforts.
  • March 2023: North Carolina regulators issued an order to strengthen the state’s solar market by approving a three-year glide path for solar customers to transition from monthly credits to a more dynamic time-of-use rate structure that incentivizes the use of solar when it is most valuable.

Residential Solar Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Renewable Energy Mix, Global, 2023
  • 4.3 Residential Solar Energy Installed Capacity and Forecast, till 2029
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.1.1 Favorable Government Policies
    • 4.6.1.2 Reduced Cost of Solar Energy Systems
    • 4.6.2 Restraints
    • 4.6.2.1 Lack of Financing Options Coupled with Difficulties in Integrating Residential Solar PV Systems in Regions like Africa
  • 4.7 Supply Chain Analysis
  • 4.8 Porter's Five Forces Analysis
    • 4.8.1 Bargaining Power of Suppliers
    • 4.8.2 Bargaining Power of Consumers
    • 4.8.3 Threat of New Entrants
    • 4.8.4 Threat of Substitutes Products and Services
    • 4.8.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION - By Geography

  • 5.1 North America
    • 5.1.1 United States
    • 5.1.2 Canada
    • 5.1.3 Rest of North America
  • 5.2 Europe
    • 5.2.1 Germany
    • 5.2.2 France
    • 5.2.3 United Kingdom
    • 5.2.4 Italy
    • 5.2.5 Spain
    • 5.2.6 Russia
    • 5.2.7 NORDIC
    • 5.2.8 Turkey
    • 5.2.9 Rest of Europe
  • 5.3 Asia-Pacific
    • 5.3.1 China
    • 5.3.2 India
    • 5.3.3 Japan
    • 5.3.4 Australia
    • 5.3.5 Malaysia
    • 5.3.6 Thailand
    • 5.3.7 Indonesia
    • 5.3.8 Vietnam
    • 5.3.9 Rest of Asia-Pacific
  • 5.4 South America
    • 5.4.1 Brazil
    • 5.4.2 Argentina
    • 5.4.3 Chile
    • 5.4.4 Colombia
    • 5.4.5 Rest of South America
  • 5.5 Middle East and Africa
    • 5.5.1 Saudi Arabia
    • 5.5.2 United Arab Emirates
    • 5.5.3 South Africa
    • 5.5.4 Qatar
    • 5.5.5 Nigeria
    • 5.5.6 Egypt
    • 5.5.7 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Trina Solar Co. Ltd
    • 6.3.2 Yingli Green Energy Holding Company Limited
    • 6.3.3 Canadian Solar Inc.
    • 6.3.4 JinkoSolar Holding Co. Ltd
    • 6.3.5 JA Solar Holdings Co. Ltd
    • 6.3.6 Sharp Corporation
    • 6.3.7 ReneSola Ltd
    • 6.3.8 Hanwha Q Cells Co. Ltd
    • 6.3.9 SunPower Corporation
    • 6.3.10 Tesla Inc.
  • *List Not Exhaustive
  • 6.4 List of Other Prominent Players
  • 6.5 Market Ranking/Share (%) Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Ambitious Targets to Increase the Renewable Share in Total Energy Mix Worldwide
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Residential Solar Energy Industry Segmentation

Residential solar PV consists of photovoltaic cells and is nonchemical technology that turns sunlight into energy to power household appliances and equipment. It is a rapidly growing renewable energy technology and plays a vital role in global energy transformation.

The residential solar energy market is segmented by geography. The report also covers the market size and forecasts across major regions. For each segment, the market sizing and forecasts have been done based on installed capacity (GW).

North America United States
Canada
Rest of North America
Europe Germany
France
United Kingdom
Italy
Spain
Russia
NORDIC
Turkey
Rest of Europe
Asia-Pacific China
India
Japan
Australia
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
South America Brazil
Argentina
Chile
Colombia
Rest of South America
Middle East and Africa Saudi Arabia
United Arab Emirates
South Africa
Qatar
Nigeria
Egypt
Rest of Middle East and Africa
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Residential Solar Energy Market Research FAQs

How big is the Residential Solar Energy Market?

The Residential Solar Energy Market size is expected to reach 147.98 gigawatt in 2025 and grow at a CAGR of 6.69% to reach 204.56 gigawatt by 2030.

What is the current Residential Solar Energy Market size?

In 2025, the Residential Solar Energy Market size is expected to reach 147.98 gigawatt.

Who are the key players in Residential Solar Energy Market?

Trina Solar Co., Ltd., Canadian Solar Inc., Hanwha Q Cells Co., Ltd., Tesla, Inc. and JinkoSolar Holding Co., Ltd are the major companies operating in the Residential Solar Energy Market.

Which is the fastest growing region in Residential Solar Energy Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Residential Solar Energy Market?

In 2025, the Asia Pacific accounts for the largest market share in Residential Solar Energy Market.

What years does this Residential Solar Energy Market cover, and what was the market size in 2024?

In 2024, the Residential Solar Energy Market size was estimated at 138.08 gigawatt. The report covers the Residential Solar Energy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Residential Solar Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Residential Solar Energy Industry Report

The global market for residential solar energy storage systems and residential solar PV is on a trajectory of robust growth, driven by an escalating demand for clean and renewable energy sources within residential settings. This market, meticulously segmented by application, product type, connectivity, and mounting, caters to a broad spectrum of residential needs, spanning collective and detached houses, and providing both on-grid and off-grid solutions. Key product categories include lead-acid and Li-ion batteries for energy storage, as well as ground-mounted and rooftop solar PV installations. The residential solar market size is poised for growth across various regions, with Asia-Pacific particularly notable for its favorable policies and surging energy demand. This movement is propelled by the allure of potential electricity cost savings, the quest for alternative electricity sources, and the imperative to mitigate climate change risks. Ambitious renewable energy targets set by governments worldwide are further catalyzing the market's growth, with the aim of boosting the residential solar market share through the widespread adoption of solar PV systems. For comprehensive insights into the Residential Solar Energy market share, size, and revenue growth rate, Mordor Intelligence™ Industry Reports offer a detailed market forecast outlook and historical overview. Access a sample of this industry analysis as a free report PDF download.