Rooftop Solar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Location of Deployment (Residential, Commercial and Industrial), and Geography (North America, Asia-Pacific, Europe, South America, and Middle-East and Africa)

Market Snapshot

Rooftop Solar Market-Market Summary
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: >8.5 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

Rooftop solar market is expected to grow with the increasing deployment of solar energy in both residential and commercial use. During 2018, the installed capacity of the solar photovoltaic (PV) market increased by around 25%, from 407 GW installed capacity during 2017. It is estimated that the rooftop solar PV installation market to grow with increasing installed capacity of solar PV, which is expected to get increased at a CAGR of around 8.5% during the forecast period. The government policies that drives 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, cost for electricity storage on battery is quite high, which require grid battery to store electricity during night. However, increasing space constraints in the major cities across the globe is 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 segment under rooftop solar PV installations, that are used to generate electricity for residential purpose. Apart from residential rooftop solar photovoltaic installations, commercial and industrial rooftop installations are expected to grow with smart city initiatives.
  • With the highest installed capacity of solar photovoltaic in 2018 and a growing population to nearly 4.5 billion by 2025, Asia Pacific is expected to have significant growth and opportunity for the rooftop solar photovoltaic installation market.
  • Europe is one of the significant regions with the highest rooftop solar PV installations. Netherlands is one of the prominent countries in the region which has a major share of the market.

Scope of the Report

The rooftop solar market report include:

Location of Deployment
Residential
Commercial and Industrial
Geography
North America
Asia-Pacific
Europe
South America
Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Residential Rooftop Solar Photovoltaic Installation to Witness a Significant Growth

  • Solar photovoltaic mounted on the rooftop of a residential building used to generate electricity are know as residential rooftop solar PV. The installation includes photovoltaic modules, mounting systems, cables, and other electrical accessories.
  • It is expected that nearly 1.8% of homes across the largest metro areas around the world have installed the rooftop solar PV. California in the United States is the prominent state to have the highest penetration in this segment.
  • San Diego and San Francisco are the major cities to have the highest percentage of residents that installed rooftop solar PV. Moreover, the cities are expected to have around 12-15% penetration level during the forecasting period.
  • During the FY 2019-20, Government of India has released a huge subsidiary to expand the residential rooftop PV installation market. The government has initiated subsidy rate depending upon kilowatts of solar PV installed. Such initiation from the government side is expected to expand the residential solar PV installation in India.
rooftop solar market

Europe as a Significant Market

  • During 2018, Europe has a significant rooftop solar PV of around 80 gigawatts (GW) installed capacity. The market for rooftop solar installation is segregated into residential, commercial, and industrial. Commercial rooftop solar PV has the highest install capacity in the region.
  • Furthermore, it is expected that nearly 680-Terawatt hours of electricity can be generated if the rooftop across the region installs the rooftop solar PV.
  • 100 Electricity Finland Oy, 3 COMM Telecommunications Ltd., 3 Energy, 360 Tech Engineering, 3K, and 4M Energy are few prominent companies that provide installation of rooftop solar PV in the European region.
  • Europe has potential to have a significant growth in rooftop PV installation market. Germany is one of the potential country that have nearly 7900 square kilometre of rooftop area, which is estimated to produce nearly 680,276 gigawatt-hours of electricity a year. 
rooftop solar market

Competitive Landscape

The rooftop solar market is fragmented. Some of the key players in the market include Titan Solar Power NV Inc, Momentum Solar, Petersen-Dean Inc., Elemental Energy Inc., Semper Solaris Construction Inc., and POWERHOME Solar.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Rooftop Solar Photovoltaic (PV) Installed Market in GW, till 2025

    4. 4.4 Recent Trends and Developments

    5. 4.5 Government Policies and Regulations

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 Porter's Five Forces Analysis

      1. 4.8.1 Bargaining Power of Suppliers

      2. 4.8.2 Bargaining Power of Consumers

      3. 4.8.3 Threat of New Entrants

      4. 4.8.4 Threat of Substitute Products and Services

      5. 4.8.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Location of Deployment

      1. 5.1.1 Residential

      2. 5.1.2 Commercial and Industrial

    2. 5.2 Geography

      1. 5.2.1 North America

      2. 5.2.2 Asia-Pacific

      3. 5.2.3 Europe

      4. 5.2.4 South America

      5. 5.2.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Titan Solar Power NV Inc.

      2. 6.3.2 Momentum Solar

      3. 6.3.3 Petersen-Dean Inc.

      4. 6.3.4 Elemental Energy Inc.

      5. 6.3.5 Semper Solaris Construction Inc.

      6. 6.3.6 Powerhome LLC

      7. 6.3.7 ReVision Energy LLC

      8. 6.3.8 Sunpro Solar Inc.

      9. 6.3.9 Baker Electric Home Energy

      10. 6.3.10 Infinity Energy Inc.

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Rooftop Solar Photovoltaic Installation Market market is studied from 2016 - 2026.

The Rooftop Solar Photovoltaic Installation Market is growing at a CAGR of >8.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

Momentum Solar , Titan Solar Power NV Inc, Petersen-Dean Inc., Elemental Energy Inc., Semper Solaris Construction Inc. are the major companies operating in Rooftop Solar Photovoltaic Installation Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!