Market Size of South America Rooftop Solar Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Rooftop Solar Market Analysis
The South America solar rooftop market is expected to grow at a CAGR of over 5% during the forecast period. Factors such as the government policies that drive the rooftop solar installation, along with increased awareness towards environmental concerns are expected to drive the rooftop solar market during the forecast period. Moreover, a reduction in the cost of producing photovoltaic panels and the demand for uninterrupted power supply is expected to augment the market. However, the high cost of electricity storage and the high initial cost of investment for setting up solar PV in rooftops is expected to hinder the growth of the market studied.
- Commercial rooftop is one of the largest segment under the rooftop solar market in South America, that are used to generate electricity for commercial purpose. Apart from residential rooftop solar photovoltaic installations, commercial and industrial rooftop installations are expected to grow with smart city initiatives.
- Due to increasing blackouts in the country leading to electricity crisis and increasing demand for continuous power, several opportunities are expected for the market players in South America to fill-in the supply and demand gap.
- Brazil is expected to be the largest market for rooftop solar in the region, owing to country's aim to increase its solar generation to 7 GW capacity. In addition, Brazilian Development Bank (BNDES) is expecting to invest USD 2.5 billion in solar development from 2018.
