PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1758983
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1758983
Global Grid Connected PV Systems Market to Reach US$426.5 Billion by 2030
The global market for Grid Connected PV Systems estimated at US$218.0 Billion in the year 2024, is expected to reach US$426.5 Billion by 2030, growing at a CAGR of 11.8% over the analysis period 2024-2030. Non-Residential End-Use, one of the segments analyzed in the report, is expected to record a 13.4% CAGR and reach US$288.6 Billion by the end of the analysis period. Growth in the Residential End-Use segment is estimated at 9.0% CAGR over the analysis period.
The U.S. Market is Estimated at US$59.4 Billion While China is Forecast to Grow at 16.2% CAGR
The Grid Connected PV Systems market in the U.S. is estimated at US$59.4 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$90.2 Billion by the year 2030 trailing a CAGR of 16.2% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 8.4% and 10.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR.
Global "Grid Connected PV Systems" Market - Key Trends & Drivers Summarized
Why Are Grid Connected PV Systems Leading the Renewable Energy Adoption Wave?
Grid connected photovoltaic (PV) systems-solar power setups that feed electricity directly into the utility grid-are becoming the backbone of solar energy strategies worldwide. Unlike off-grid systems, these solutions allow excess power generation to be exported, reducing energy costs and stabilizing local energy supplies. As concerns over fossil fuel dependence, energy security, and climate change rise, grid-tied PV systems offer governments, businesses, and homeowners a scalable and cost-effective way to contribute to clean energy generation. Net metering, feed-in tariffs, and utility incentives are accelerating adoption across residential, commercial, and industrial sectors, making grid-connected solar systems a mainstream component of the global energy transition.
What Technological Advances Are Boosting Efficiency and Integration?
The performance of grid connected PV systems has been significantly enhanced by innovations in solar module efficiency, smart inverters, and real-time energy monitoring. High-efficiency monocrystalline and bifacial panels now generate more electricity per square meter, while string inverters and microinverters allow flexible, modular installation with improved shading tolerance. Integration with AI-driven energy management systems enables dynamic load balancing and remote diagnostics, ensuring better system uptime and energy optimization. Hybrid models-combining solar PV with battery storage-are also emerging, allowing users to store power for peak usage or emergency backup. Additionally, utility-scale PV installations are increasingly being integrated with demand-response networks and virtual power plants (VPPs), strengthening grid reliability.
Which Regions Are Leading Deployment and Infrastructure Development?
Asia-Pacific is the global leader in grid connected PV system installations, with China accounting for the largest solar capacity due to its ambitious renewable energy policies and massive utility-scale deployments. India, Australia, and Southeast Asian nations are following suit, driven by energy access goals and favorable government incentives. Europe continues to expand its solar footprint, with Germany, the Netherlands, and Spain at the forefront of integrating decentralized PV into national grids. In North America, the U.S. solar market is thriving amid strong rooftop solar adoption, corporate sustainability initiatives, and favorable state-level policies. Latin America, led by Brazil, Mexico, and Chile, is emerging as a high-growth region, while African markets are exploring solar-plus-grid solutions to enhance energy access in underserved areas.
What Are the Core Growth Drivers and Obstacles in the Grid Connected PV Market?
The growth in the grid connected PV systems market is driven by falling solar module prices, rising electricity costs, supportive policy environments, decarbonization mandates, and technological advances in system design and performance. Rapid urbanization, grid modernization projects, and rising awareness of energy self-reliance also contribute to increased deployment. However, the market faces challenges including regulatory uncertainty, interconnection bottlenecks, and limitations in grid infrastructure in some regions. Issues such as grid congestion, power curtailment, and technical barriers to integrating variable solar output into older grids can impact ROI and system efficiency. Still, as governments and utilities align incentives with climate goals, the expansion of grid connected PV systems is set to remain a cornerstone of global renewable energy growth.
SCOPE OF STUDY:
The report analyzes the Grid Connected PV Systems market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
End-Use (Non-Residential End-Use, Residential End-Use)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 36 Featured) -
AI INTEGRATIONS
We're transforming market and competitive intelligence with validated expert content and AI tools.
Instead of following the general norm of querying LLMs and Industry-specific SLMs, we built repositories of content curated from domain experts worldwide including video transcripts, blogs, search engines research, and massive amounts of enterprise, product/service, and market data.
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by increasing the Cost of Goods Sold (COGS), reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.