PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1305934
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1305934
Residential Solar PV Market Size - By Connectivity (On-Grid, Off-Grid), By Mounting (Ground Mounted, Roof-Top), COVID-19 Impact Analysis & Global Forecast, 2023 - 2032
Global Residential Solar PV Market outlook is poised to strengthen over 2023-2032. Increasing awareness and concern about environmental issues, prompting individuals to seek cleaner and renewable energy alternatives, is among the key factors driving market growth and popularity. The declining costs of solar panels and related equipment have made residential solar PV systems more affordable and accessible.
Government incentives and subsidies, such as tax credits and feed-in tariffs, further incentivize homeowners to install solar panels, spurring product demand. Besides, rising electricity prices and the desire for energy independence also play a role, as solar PV systems allow homeowners to generate their own electricity and reduce reliance on the grid. This apart, technological breakthroughs in solar panel efficiency and energy storage solutions have boosted the viability and attractiveness of residential solar PV installations, further augmenting market gains.
The residential solar PV market is categorized based on connectivity, mounting, and region.
With respect to connectivity, the market share from off-grid segment will exhibit commendable growth through 2032. The demand for residential solar PV is rapidly growing for off-grid connectivity due to several key factors. Rising energy costs, environmental concerns, and advancements in solar technology have made solar PV systems an attractive option for homeowners seeking sustainable and self-sufficient energy solutions, allowing them to generate their electricity and reduce reliance on traditional power grids.
Based on mounting, the residential solar PV market size from the roof-top segment will record a noticeable valuation by 2032. Homeowners are increasingly recognizing the long-term financial benefits of generating their own electricity and reducing their reliance on conventional power sources. The growing awareness and concern about climate change have prompted individuals to embrace clean and renewable energy solutions. Moreover, government incentives, falling installation costs, and advancements in solar technology have made roof-top solar PV more accessible and economically viable for residential properties.
Regionally, North America residential solar PV industry will garner appreciable gains over 2023-2032. There is a growing awareness and concern about climate change in the region, leading homeowners to seek out sustainable energy solutions. Secondly, government incentives and favorable policies have made solar PV more affordable and attractive. Additionally, technological improvements and falling installation costs have made solar systems more accessible to a wider range of homeowners. Lastly, the desire for energy independence and cost savings are driving the increased adoption of residential solar PV in North America.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market definitions
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Secondary
- 1.4.1.1 Paid sources
- 1.4.1.2 Unpaid sources
- 1.4.2 Primary
- 1.4.1 Secondary
Chapter 2 Executive Summary
- 2.1 Residential Solar PV industry 360 degree synopsis, 2019 - 2032
- 2.1.1 Business trends
- 2.1.2 Connectivity trends
- 2.1.3 Mounting trends
- 2.1.4 Regional trends
Chapter 3 Residential Solar PV Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Vendor matrix
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.1.1 Shifting consumer focus on clean energy sources
- 3.3.1.2 Increasing off grid electricity demand
- 3.3.1.3 Favorable government schemes & mandates
- 3.3.2 Industry pitfalls & challenges
- 3.3.2.1 Availability of other clean energy sources
- 3.3.1 Growth drivers
- 3.4 Growth potential analysis
- 3.5 Porter's Analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL Analysis
Chapter 4 Competitive Benchmarking
- 4.1 Innovation & sustainability landscape
- 4.2 Competitive landscape, 2022
- 4.2.1 Strategic dashboard
Chapter 5 Residential Solar PV Market, By Connectivity
- 5.1 Key type trends
- 5.2 On-grid
- 5.3 Off-grid
Chapter 6 Residential Solar PV Market, By Mounting
- 6.1 Key application trends
- 6.2 Ground mounted
- 6.3 Roof-top
Chapter 7 Residential Solar PV Market, By Region
- 7.1 Key regional trends
- 7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
- 7.2.3 Mexico
- 7.3 Europe
- 7.3.1 Austria
- 7.3.2 Norway
- 7.3.3 Denmark
- 7.3.4 Finland
- 7.3.5 France
- 7.3.6 Germany
- 7.3.7 Italy
- 7.3.8 Switzerland
- 7.3.9 Spain
- 7.3.10 Sweden
- 7.3.11 UK
- 7.3.12 Netherlands
- 7.3.13 Poland
- 7.3.14 Belgium
- 7.3.15 Ireland
- 7.3.16 Baltics
- 7.3.17 Portugal
- 7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 Australia
- 7.4.3 India
- 7.4.4 Japan
- 7.4.5 South Korea
- 7.4.6 Thailand
- 7.4.7 Philippines
- 7.4.8 Vietnam
- 7.4.9 Malaysia
- 7.4.10 Singapore
- 7.5 Middle East
- 7.5.1 Israel
- 7.5.2 Saudi Arabia
- 7.5.3 UAE
- 7.5.4 Jordan
- 7.5.5 Oman
- 7.5.6 Kuwait
- 7.5.7 Turkey
- 7.6 Africa
- 7.6.1 South Africa
- 7.6.2 Egypt
- 7.6.3 Algeria
- 7.6.4 Nigeria
- 7.6.5 Morocco
- 7.7 Latin America
- 7.7.1 Brazil
- 7.7.2 Chile
- 7.7.3 Argentina
- 7.7.4 Peru
Chapter 8 Company Profiles
- 8.1 Trina Solar
- 8.2 Canadian Solar
- 8.3 JA SOLAR Technology Co., Ltd.
- 8.4 Jinko Solar
- 8.5 REC Solar Holdings AS
- 8.6 GCL SI, Q CELLS
- 8.7 CsunSolarTech
- 8.8 Solaria Corporation
- 8.9 LG Electronics
- 8.10 Yingli Solar
- 8.11 Shunfeng International Clean Energy Co., Ltd.
- 8.12 EMMVEE SOLAR
- 8.13 SHENZHEN SHINE SOLAR CO., LTD
- 8.14 Motech Industries Inc.
- 8.15 SunPower Corporation
- 8.16 Risen Energy Co., Ltd.
- 8.17 Vikram Solar Pvt Ltd.
- 8.18 Su-vastika Solar
- 8.19 LONGi
