The global solar rooftop market revenue is expected to expand at a lucrative CAGR over the forecast period. Growth of the solar rooftop market is majorly influenced by the growing demand for energy consumption across the globe. Furthermore, electricity produced by renewable sources is clean, cost effective and renewable in nature which drives the market towards growth. Growing solar systems installations, government initiatives and policies are some of the factors fueling the market growth in the forecast period.
The global solar rooftop market report has been segmented on the basis of capacity, connectivity, application and region.
On the basis of capacity, the target market is segmented into below 10 kW, 11 kW- 100kW and above 100 kW. A rooftop solar system ranging with a power capacity from 11 kW- 100 kW are comparatively best option for commercial and small-scale industry.
On the basis of connectivity, the market is segregated into on- grid and off-grid. In the on-grid solar rooftop systems, the electricity is generated from solar PV rooftop which are connected to the utility grid. Whereas, off-grid systems generate electricity which is consumed by the connected load, and excess of power is stored in batteries to be used as and when needed.
On the basis of end-user, it includes residential, commercial and industrial. Rooftop solar systems is widely used in commercial and industrial buildings as it provides benefits such as economical cost, less complexity, avoiding of cost of land, etc.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is estimated to be highest share in terms of revenue over the forecast period, owing to requirement of high amount of electricity, growing solar system installations, government initiatives and policies. Introduced in 2016, Net accounting model allows customers to be paid in cash for any surplus they generate at the end of their monthly billing cycles.
Key players operating in the global solar rooftop market include SMA Solar Technology AG, Trina Solar, Yingli Green Energy Holding Company Limited, Canadian Solar Inc., Jinko Solar, SolarWorld AG, SunPower Corporation, Shunfeng International Clean Energy Limited., Tata Power Solar Systems Limited, Delta Energy Systems, JA Solar Holdings Co., Ltd., ABB Ltd., and others