Market Size of Rooftop Solar Photovoltaic Installation Industry
| Study Period | 2019-2029 |
| Market Volume (2024) | 111.27 gigawatt |
| Market Volume (2029) | 163.78 gigawatt |
| CAGR (2024 - 2029) | 8.04 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Rooftop Solar Photovoltaic Installation Market Analysis
The Rooftop Solar Photovoltaic Installation Market size is estimated at 111.27 gigawatt in 2024, and is expected to reach 163.78 gigawatt by 2029, growing at a CAGR of 8.04% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
Over the long term, supportive government policies in the form of incentives and tax benefits for solar panel installation, declining PV installation costs, and rising panel efficiencies are expected to drive the market during the forecast period.
On the other hand, high initial capital investment are expected to hinder the growth of the market during the forecasted period.
Nevertheless, new technological advancements and the development of perovskite solar cells are expected to create several opportunities for the rooftop solar PV installation market in the future.
Asia-Pacific was the largest market for rooftop solar PV installation in 2022. The region is also likely to be the fastest-growing market during the forecast period due to the presence of several developing economies, such as China and India.
