Solar Rooftop Sales Market Overview
The
worldwide solar rooftop market is a very dynamic market. It is likely to
experience increased growth during the forecast period. A solar rooftop photo
voltaic (PV) system transforms sun’s light energy into electricity power by the
means of solar rooftop installed on rooftop of a building.
Solar rooftop systems have been leading
the renewable energy market due to its growing demand from its end-use markets. The worldwide growing demand for
solar systems, mostly in residential rooftop usage is also fuelling the solar
rooftop market. The worldwide solar rooftop market is
estimated to develop at 20.14% CAGR over the forecast period. A detailed
analysis report of COVID-19 impact on Solar
Rooftop Sales Market is provided with the report.
Solar
rooftop units can either link to the grid, or they can be off grid with battery
storage. They are applied in commercial, industrial and residential purposes
with system ratings of up to 11 kW–100 MW, 10 kW, and above 100 MW. In the last
few years, the requirement for solar rooftop systems has gradually surged and
it is estimated to witness prominent growth in the future.
Since last
decade, a consistent drop in the prices of key elements such as, poly-silicone
and silver has been driving the solar systems market since poly-silicone and
silver find wide application in the manufacturing technique of solar cells.
Solar rooftop systems play crucial role in reducing harmful emissions, reducing
the overall energy bills, and conducting noise less operations. A consistent
drop in the prices of industrial commodities employed to create solar panels
coupled with the surging inflation in natural gas & electricity, is playing
a significant role in encouraging the growth of the global solar rooftop
market.
Global Solar Rooftop
Sales Market Segmentation
The global solar
rooftop market has been segmented based on
connectivity, end-users, and capacity.
Based on capacity, the global
solar rooftop market has been segmented into >10 kW, 11 kW-100 kW, and
<100 kW. Among these, the 11 kW-100 kW segment dominates the global solar
rooftop market. This segment is also projected to develop at a rapid rate
within the global solar rooftop market over the forecast period.
Based on connectivity, the
global solar rooftop market has been segmented into off-grid and on-grid.
Based on end users, the worldwide
solar rooftop market has been segmented into commercial, industrial, and
residential.
Regional Analysis
On regional basis, the
worldwide solar rooftop market has been segmented into four key regions such as
Europe, North America, Asia Pacific (APAC), and the rest of the world.
The Asia Pacific market
represented a share of 50 percent in the worldwide solar rooftop market during
2016. The demand for solar rooftop in this market is also expected to grow at a
rapid rate over the forecast period 2017 to 2023. Application of renewable
energy sources owing to the fast depletion of non-renewable sources is leading
to major energy crisis. Surged demand for electrical power as a result of rapid
expansion of commercial sector coupled with industrialization, growth in
government initiatives for optimum usage of solar energy to carry out several
operations in public infrastructures and increased adoption rate of solar water
heaters in residential buildings are primarily driving the demand of the global
solar rooftop in the Asia Pacific (APAC) market. Surged demand for energy owing
to rapid urbanization, industrialization, collectively with rapid adoption of
advanced solutions as alternatives for non-renewable energy sources and the
growth in population are propelling the demand for global solar rooftop market
in the North America market.
Key Players
Global solar rooftop market
is dominated by key players such as Trina Solar (China), SMA Solar Technology
AG (Germany), Canadian Solar Inc. (Canada), Yingli Green Energy Holding Company
Limited (China), Jinko Solar (China), SunPower Corporation (U.S.), SolarWorld
AG (Germany), Tata Power Solar Systems Limited (India), Shunfeng International
Clean Energy Limited (China), JA Solar Holdings Co., Ltd. (China), ABB Ltd. (Switzerland),
and Delta Energy Systems (Germany).
Browse Complete Research Report at: https://www.marketresearchfuture.com/reports/solar-rooftop-sales-market-4174
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