Rooftop Solar PV Market Revenue to close at USD 109682.3 MN by 2027
Posted On May 12, 2021
The Global Rooftop Solar PV Market is foreseen to grow at a remarkable CAGR of 9% during the year 2021-2027 as estimated by the report from Value Market Research wherein the market value is expected to grow to USD 109682.3 MN by 2027. The rapid adoption of renewable power worldwide to reduce the carbon footprint and save electricity bills will be the primary stimulant for the rooftop solar PV market. The ability to feed the solar electricity generated from rooftop PVs into the public grid, making it a source of income for the installers, will further propel market growth. Increased initiatives from government agencies to encourage investment in rooftop PVs will benefit market growth. Hybrid rooftop power systems capable of providing a continuous power source to the consumers and can be used for multiple applications will be a market booster. The various technical challenges associated with rooftop PV systems will negatively impact market growth.
Rooftop solar PV is a photovoltaic power generation system where the electricity-generating solar panels are mounted on a residential or commercial building rooftop. The various components included are photovoltaic modules, mounting systems, cables, solar inverters, and other electrical accessories. The power generated by rooftop mounted systems is small compared to ground-mounted photovoltaic power stations; hence it is part of a distributed power generation. Rooftop PVs are generally grid-connected photovoltaic power systems. Other power components like diesel generators, wind turbines, batteries, etc. camps are used in conjunction with an on-grid or off-grid rooftop PV system.
The geographical and segmentation study covered in the report "Global Rooftop Solar PV Market Report By Technology (Thin Film, Crystalline Silicon, Others), By Grid Type (On Grid, Off Grid), By Application (Residential, Commercial, Industrial) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" helps in understanding the upcoming trends of the market.
On the basis of technology the market is segmented into Thin Film, Crystalline Silicon, Others. By grid type the rooftop solar PV market is categorised as On Grid, Off Grid. By application the rooftop solar PV market is categorised as Residential, Commercial, Industrial. Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. This section provides the estimates of market by segment, thus providing valuable data to take strategic decisions.
The Report Segments Global Rooftop Solar PV Market -
- Thin Film
- Crystalline Silicon
By Grid Type
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
JA Solar, SunPower Corporation, ReneSola, Talesun, LONGi Solar, Hanwha Q-CELLS, GCL-SI, E-Ton Solar, JinkoSolar, Shenzhen Yingli New Energy Resources Co., Ltd, First Solar, Trina Solar, Canadian Solar, Risen Energy, Indosolar, and E-Ton Solar.
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