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PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402693
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1402693
Home Solar System Market, By Component, By End User, By Grid Type, By Solar Module Type, By System Type, By Geography
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PAGES: 140 Pages
DELIVERY TIME: 2-3 business days
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The home solar system market size is expected to reach US$ 212.81 Bn by 2030, from US$ 67.20 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 17.9% during the forecast period.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2023: | US$ 67.20 Bn |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
| Forecast Period 2023 to 2030 CAGR: | 17.90% | 2030 Value Projection: | US$ 212.81 Bn |
Figure 1. Home Solar System Market Share (%), By Region, 2023
A home solar system typically consists of solar panels, an inverter, mounting equipment, and a battery storage system optional. These components work together to capture the sun's energy and convert it into usable electricity. The excess electricity generated by the system can be stored in the battery or fed back into the grid, thus allowing homeowners to earn credits for the energy they produce. Moreover, advancements in solar technology have made home solar systems more efficient and cost-effective, thereby making them an attractive option for homeowners worldwide.
Market Dynamics:
The home solar system market is primarily driven by several factors. Increasing awareness of the environmental impact of traditional energy sources has led to a growing demand for clean and renewable energy alternatives. Homeowners are increasingly adopting solar systems to reduce their carbon footprint and contribute to the fight against climate change.
Government incentives and policies promoting renewable energy adoption have played a crucial role in the market's growth. Subsidies, tax credits, and net metering policies have made home solar systems more affordable and financially appealing for consumers. These incentives encourage homeowners to invest in solar installations, thereby driving the market growth.
However, certain restraints hinder the widespread adoption of home solar systems. One major challenge is the high upfront cost of installation. Although the long-term financial benefits outweigh the initial investment, the upfront expense can deter some homeowners from considering solar installations.
Despite these challenges, the home solar system market presents several opportunities. Technological advancements, such as the development of more efficient solar panels and battery storage solutions, are making solar installations even more attractive and cost-effective. Growing affordability of solar systems and the increasing availability of financing options are expected to drive market growth in the near future.
Key features of the study:
- This report provides in-depth analysis of the home solar system market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the home solar system market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include SunPower Corporation, Vivint Solar, Sunrun, Tesla, LG Electronics, Panasonic Corporation, JinkoSolar, Canadian Solar, ReneSola, Trina Solar, Yingli Green Energy, SMA Solar Technology, Enphase Energy, SolarEdge Technologies, Daqo New Energy Corp, JA Solar, LONGi Green Energy Technology, Array Technologies, First Solar, and REC Group.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The home solar system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the home solar system market
Home Solar System Market Detailed Segmentation:
- By Component
- Solar Panels
- Solar Batteries
- Solar Inverters
- Mounting Systems
- Trackers
- Others (Wiring, Controllers, etc.)
- By End User
- Residential
- Commercial
- Industrial
- Utility
- Others (Agriculture, Transportation, etc.)
- By Grid Type
- On-grid
- Off-grid
- Hybrid
- By Solar Module Type
- Mono-crystalline
- Poly-crystalline
- Thin Film
- Others (Organic PV, Quantum Dot PV, etc.)
- By System Type
- Ground Mounted
- Rooftop Mounted
- Floating PV Systems
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Top Companies in the Home Solar System Market:
- SunPower Corporation
- Vivint Solar
- Sunrun
- Tesla
- LG Electronics
- Panasonic Corporation
- JinkoSolar
- Canadian Solar
- ReneSola
- Trina Solar
- Yingli Green Energy
- SMA Solar Technology
- Enphase Energy
- SolarEdge Technologies
- Daqo New Energy Corp
- JA Solar
- LONGi Green Energy Technology
- Array Technologies
- First Solar
- REC Group
Product Code: CMI6265
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Home Solar System Market, By Component
- Home Solar System Market, By End User
- Home Solar System Market, By Grid Type
- Home Solar System Market, By Solar Module Type
- Home Solar System Market, By System Type
- Home Solar System Market, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Declining costs of solar PV systems
- High upfront costs and long payback periods
- Emerging battery storage systems
- Key Highlights
- Regulatory Scenario
- Recent Trends
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Mergers, Acquisitions, and Collaborations
4. Home Solar System Market - Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
5. Home Solar System Market, By Component, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
- Solar Panels
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Solar Batteries
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Solar Inverters
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Mounting Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Trackers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Others (Wiring, Controllers, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
6. Home Solar System Market, By End User, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
- Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Utility
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Others (Agriculture, Transportation, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
7. Home Solar System Market, By Grid Type, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
- On-grid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Off-grid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Hybrid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
8. Home Solar System Market, By Solar Module Type, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
- Mono-crystalline
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Poly-crystalline
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Thin Film
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Others (Organic PV, Quantum Dot PV, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
9. Home Solar System Market, By System Type 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 - 2030
- Segment Trends
- Ground Mounted
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Rooftop Mounted
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
- Floating PV Systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2030,(US$ Bn)
10. Home Solar System Market, By Region, 2018-2030, (US$ Bn)
- Introduction
- Market Share Analysis, By Sub-region, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Sub-region, 2018 -2030
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Grid Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Solar Module Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2030,(US$ Bn)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Grid Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Solar Module Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2030,(US$ Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Grid Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Solar Module Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2030,(US$ Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Grid Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Solar Module Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2019-2030,(US$ Bn)
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Component, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By End User, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Grid Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Solar Module Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By System Type, 2019-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Sub-region, 2019-2030,(US$ Bn)
- GCC Countries
- Israel
- South Africa
- Central Africa
- North Africa
- Rest of Middle East
11. Competitive Landscape
- Company Profile
- SunPower Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Vivint Solar
- Sunrun
- Tesla
- LG Electronics
- Panasonic Corporation
- JinkoSolar
- Canadian Solar
- ReneSola
- Trina Solar
- Yingli Green Energy
- SMA Solar Technology
- Enphase Energy
- SolarEdge Technologies
- Daqo New Energy Corp
- JA Solar
- LONGi Green Energy Technology
- Array Technologies
- First Solar
- REC Group
- Analyst Views
12. Section
- References
- Research Methodology
- About us
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