Market Size of United States Solar Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 16.48 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Solar Energy Market Analysis
The United States solar energy market is estimated to be at 164.2 Giga Watt (GW) by the end of this year and is projected to reach 352 Giga Watt (GW) after five years, registering a CAGR of over 16.48% during the forecast period.
- Over the medium term, factors such as declining solar PV costs and supportive government policies are expected to drive the United States solar energy market during the forecast period.
- On the other hand, increasing adoption of alternative clean energy sources and increasing natural gas consumption are expected to hinder the market's growth during the forecast period.
- Nevertheless, Perovskite-based cells attracted attention in recent years. Perovskite-based PV cells offer high ease of manufacturing, high efficiency, and excellent semiconducting behaviour. Hence, they are comparable to silicon-based solar PV regarding solar-to-electric efficiency. Hence, technological advancements in manufacturing PV cells will likely lead to mass-scale production, offering growth opportunities.
